• Car Dealer Plus
No Result
View All Result
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
No Result
View All Result

General Motors invests €4bn in Opel/Vauxhall

Jon Reay by Jon Reay
April 11, 2013
0
Home News

071875100_1253105409GENERAL MOTORS looks set to invest billions of Euros in Opel/Vauxhall, stifling speculation that the pair might be sold.

Opel has been losing money for over 10 years, according to the BBC, with sales of the maker’s models dropping a further 16 per cent across Europe in February this year.

Instead of selling the pair on, however, GM has reaffirmed its intent to invest €4bn (around £3.4bn) – the American company’s officials heading to Germany yesterday.

‘We are more convinced than ever that GM must have a strong presence in Europe generally and particularly — especially — here in Germany,’ Daniel F. Akerson, chairman and chief executive of GM.

The money, suggests the New York Times, will be used to ‘introduce 23 new models and variants of existing models,’ along with over 10 new engines.

It’s hoped that the investment will re-invigorate the brand and, unlike previous turnaround attempts, may yield positive results.

That sort of news would be welcomed with open arms by Opel’s workers across Europe, with German factories suffering from waves of job cuts and a wage freeze currently in force.

Opel is even planning to close down one of its German factories – Bochum, which produces the Astra – while workers at its Ellesmere Port plant in Britain was put on a four-day week in October last year.

GM, the fourth largest automaker in Europe, has been suffering from the slump that’s struck European sales in the last two years – with much of the continent suffering from an economic downturn.

Have you filled in our Car Dealer Power survey yet? It’s a great opportunity to have your say, and you could win one of seven great prizes! Click here to enter.

 

Previous Post

Shelbourne Motors celebrates 40 years in business

Next Post

Ford Focus eclipses Toyota Corolla as world’s best selling car

Related Posts

Latest economy figures confirm UK is heading back into recession
News

Latest economy figures confirm UK is heading back into recession

January 15, 2021
Bespoke Bentaygas weave Bentley Mulliner and Savile Row together for double centenary
News

Bentley told to destroy clothing line following trademark battle that lasted 15 years

January 15, 2021
Documents reveal dealers should be able to offer home deliveries and click and collect during lockdown
News

Car dealers denied claims under business interruption policies could now get pay-outs after Supreme Court ruling

January 15, 2021
Used car market stronger than ever as August sees sales up by nearly 50 per cent for Big Motoring World
News

U-turn over ‘perverse’ VAT anomaly for Northern Ireland used car dealers is welcomed

January 15, 2021
Carwow enjoys healthy car sales in June – despite nationwide drop
News

Carwow cuts group losses to £13.8m but warns of possible decline because of Brexit

January 15, 2021
Dacia Sandero announced as 2021 What Car? Car of the Year
News

Dacia Sandero announced as 2021 What Car? Car of the Year

January 15, 2021

Want to receive the latest news?

Sign up to the Car Dealer daily news briefing for the latest news and advice during these unprecedented times.

Subscribe Now
Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK
Car Dealer Top 100

Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK

December 21, 2020
Used Car Awards Shortlist: Find out who made it through mystery shopping and are now in running for our gongs
News

Used Car Awards Shortlist: Find out who made it through mystery shopping and are now in running for our gongs

January 6, 2021
Car Dealer Live: Data shows there are buyers out there and they want new cars via click and collect, say What Car? team
Car Dealer Live

Car Dealer Live: Data shows there are buyers out there and they want new cars via click and collect, say What Car? team

January 15, 2021
Car Dealer Live: Top tips for car dealers to keep business and spirits high during national lockdown
Car Dealer Live

Car Dealer Live: Top tips for car dealers to keep business and spirits high during national lockdown

January 15, 2021
Less demand at home and abroad sees car production drop by nearly a fifth
News

Car dealers blast manufacturers for continuing to impose sales targets during lockdown 3 as ‘morally wrong’

January 15, 2021
Become a Car Dealer Plus member and get more out of this website including free legal advice
News

Become a Car Dealer Plus member and get more out of this website including free legal advice

January 15, 2021
Car Dealer Power

Car Manufacturer of the Year – Where did your manufacturer rank in Car Dealer Power 2020?

January 15, 2021
Car Dealer Power

The best car dealer suppliers named in the Car Dealer Power Awards 2020

November 26, 2020
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
Call us: 020 8125 3880

© 2020 Blackball Media

No Result
View All Result
  • Car Dealer Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100

© 2020 Blackball Media

Log In
Register
Register
Server C