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General Motors to invest 4 billion in Opel (and Vauxhall)
TheLocal.de ^ | 04/11/2013 | (AFP/mb)

Posted on 04/11/2013 5:36:45 PM PDT by Olog-hai

General Motors will invest €4 billion ($5.2 billion) in its troubled German subsidiary Opel and its British sister brand Vauxhall by 2016, the US auto giant has announced.

“As a global automotive company, GM needs a strong presence in Europe, in terms of design and development as well as manufacturing and sales,” GM chairman and chief executive Dan Akerson said at Opel headquarters in Rüsselsheim near Frankfurt late on Wednesday. …

The German car maker has been making losses for years as it has been slow to react to the crisis in demand for cars in Europe, by far its biggest market, and GM has ordered Opel’s management to prescribe draconian cost-cutting. …

(Excerpt) Read more at thelocal.de ...


TOPICS: Business/Economy; Chit/Chat; Travel
KEYWORDS: bailout; governmentmotors; opel; vauxhall

1 posted on 04/11/2013 5:36:45 PM PDT by Olog-hai
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To: Olog-hai
Interesting coming on the heals of a major stock sale by the Obamatons and they need $71 / share with the remaining stock to break even. Opel is a bleeping money pit, so is the rest of Europe right now for the Auto Industry. What do they see that I don't a turn around up the road? I can't see Europe Un-fubaring itself anytime soon...
2 posted on 04/11/2013 5:40:10 PM PDT by taildragger (( Tighten the 5 point harness and brace for Impact Freepers, ya know it's coming..... ))
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To: Olog-hai

The German auto buyer will typically demand a quality vehicle.
If GM hopes to compete in Germany, it has to upgrade its product line ....


3 posted on 04/11/2013 5:41:05 PM PDT by faithhopecharity (()
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To: taildragger

There’s a big gold grab going on by the EU’s central government (Cyprus just had to surrender, I mean sell three-quarters of their gold to the ECB). If the euro suddenly gets reborn as a gold-backed currency, that could turn things around.


4 posted on 04/11/2013 5:51:06 PM PDT by Olog-hai
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To: Olog-hai

Good to know that they have enough money to do that but not enough to finish paying their debt to the American taxpayers who kept them alive.


5 posted on 04/11/2013 6:38:22 PM PDT by DustyMoment (Congress - another name for anti-American criminals!!)
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To: Olog-hai

The last and only Opels worth mentioning, that I recall ever existing in the U.S., were the Opel GT, and the Manta series. That was somewhere in the mid-70’s, the same timeframe that saw Ford sell a Mustang with no guts and no soul, that GM came out with something called a Chevette (phonetically misspelled, of course).


6 posted on 04/11/2013 6:41:11 PM PDT by Terry L Smith
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To: faithhopecharity

Opel had two of the top ten best-selling cars in Europe within the last couple years.

Most of Europe’s automakers have financial woes in their local markets.


7 posted on 04/11/2013 6:55:14 PM PDT by jjotto ("Ya could look it up!")
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To: Terry L Smith

A number of Saturns were based on Opels, IIRC.


8 posted on 04/11/2013 6:59:41 PM PDT by Olog-hai
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To: Olog-hai

The newer small Buicks (Regal, Encore, Verano) are Opel models as well, and even the LaCrosse is an Opel platform.


9 posted on 04/11/2013 7:04:15 PM PDT by jjotto ("Ya could look it up!")
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To: Terry L Smith

And I just finished working onmy 70 Opel Autocross car!


10 posted on 04/11/2013 7:38:24 PM PDT by When do we get liberated? (A socialist is a communist who realizes he must suck at the tit of Capitalism.)
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To: When do we get liberated?
The ‘67-'68 Kadett was available with a 1.1 liter 4 banger that, hopped up, could turn 7,000 rpm. It sounded like a tin can full of angry bees...
11 posted on 04/11/2013 7:42:01 PM PDT by Eric in the Ozarks (NRA Life Member)
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To: Eric in the Ozarks

Mine is bored out .080 to a 2.0 liter, 12.5 : 1 compression solid lifter cam, ported polished 1.5 liter head and drilled out the valves to put small block chevy valves in it. Smoked the factory clutch, so now it has a Chevy S10 clutch, BMW brakes and a lowered suspension, giant sway bars etc. Been a real riot to play with and even when I lose, the car looks great doing it!


12 posted on 04/11/2013 7:51:46 PM PDT by When do we get liberated? (A socialist is a communist who realizes he must suck at the tit of Capitalism.)
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To: Olog-hai

Didn’t WE give GE BILLIONS and BILLIONS to BAIL OUT the UNIONS????? Where are we getting this money to buy VAUXHALL??? OMG!


13 posted on 04/12/2013 2:58:48 AM PDT by Ann Archy (Abortion.....the HUMAN Sacrifice to the god of Convenience.)
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To: When do we get liberated?
I lost track of Opel when they were no longer sold by Buick dealers, but I always thought they were solid little cars. The GT “baby vette” was a cool looking coupe and much could have been done to sell more of them.
GM has always had a love/hate relationship with its foreign subsidiaries. I don't think the Opel margins were very good for the dealers, which could explain why they went away...
I own an ‘02 Carerra coupe, by the way.
14 posted on 04/12/2013 4:41:44 AM PDT by Eric in the Ozarks (NRA Life Member)
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To: Olog-hai; mickie; flaglady47
Where is the $5.2 BILLION coming from?

It's such a simple question it probably will never get answered.

Is our perfidious government secretly funding this investment with our tax dollars, partially or fully?

I perused the article and such a minor detail wasn't even addressed.....which is why I smell a rat.

Everyone apparently gets so hung up on the design and power details of the auto itself that the BIG QUESTION is left hanging. How is the U.S. benefitting from this deal?

How many desperate Detroit workers will be hired in this Billion Dollar Baby deal? How many ravaged GM facilities in Detroit/Beirut will be rehabilitated?

How many MPG the German cars will get is NOT the question de jour.

Leni

15 posted on 04/12/2013 5:00:58 AM PDT by MinuteGal
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