Home » News » Opel » GM will not sell Opel to Fiat

GM will not sell Opel to Fiat

A few days ago, the italian daily “Il Sole-24 Ore” was stating that Fiat’s current CEO Sergio Marchionne is preparing a new proposal to buy Opel if GM decides to sell it. There was even more, as the daily newspaper says that Marchionne's plan is to get Opel practically free, not paying money as it happened with Chrysler.
 
Fiat declined to comment, but GM made light in this case today. The Detroit based manufacturer reaffirmed its commitment to Opel/Vauxhall, rejecting the Italian newspaper report.
 
"Opel is not for sale. GM fully stands behind Opel," said GM Vice Chairman Stephen Girsky. Also heading GM's European operations, Girsky said: "Opel is a fully integrated part of GM's global footprint and vital for GM's future success in Europe. The GM-PSA alliance is fully on track."
 
Opel has been a drag on GM's performance due to its financial problems. Morgan Stanley estimated that Opel will lose an average of $1 billion annually through to 2021, pretty much even for GM standards.

Related Articles

Leave a Comment

Fields marked with * are required
Name *:
Email *:
Comment *:
Code *:
  CAPTCHA
  • Email
  • YouTube
  • RSS
  • Twitter
  • facebook
  • feedburner

Related Specs

  1. 2005 Opel Astra VXR

    Engine: ECOTEC Inline-4, Power: 170 kw / 237 bhp @ 5600 rpm, Torque: 320 nm / 236.0 ft lbs @ 2400 rpm
  2. 2001 Opel Astra X-Treme Concept

    Engine: 90 Degree V8, Power: 328.1 kw / 440.0 bhp @ 7350 rpm, Torque: 530 nm / 390.9 ft lbs @ 4800 rpm
  3. 1991 Opel Calibra Turbo

    Engine: 16-Valve DOHC Inline-4, Power: 152.1 kw / 204.0 bhp @ 5600 rpm, Torque: 280.0 nm / 206.5 ft lbs @ 2400 rpm
  4. 2003 Opel Insignia Concept

    Engine: Aluminum V8, Power: 256.5 kw / 344 bhpN/A
  5. 1993 Opel Omega EVO 500

    Engine: Inline-6, Power: 238.6 kw / 320.0 bhp, Torque: 280 nm / 206.5 ft lbs @ 5500 rpm

New Vehicles

Jaguar E-Pace available with new 200 hp petrol engineJaguar E-Pace available with new 200 hp petrol engine
Launched this Spring, the baby SUV Jaguar is now available with more options and a new engine. The new Jaguar E-Pace can be ordered with ‘self-learning’ ...

Concept Cars

Subaru Viziv Tourer Concept unveiled in GenevaSubaru Viziv Tourer Concept unveiled in Geneva
Even if it's not recording huge volumes in Europe, Subaru didn't want to miss this year Geneva Motor Show. So it kept the stand and unveiled the Subaru ...

Custom Cars

Rolls Royce Wraith Luminary Collection announcedRolls Royce Wraith Luminary Collection announced
Rolls Royce is continuously improving its client experience with special editions for the current range of cars. Same happened with the current Wraith ...

Future Cars

Volkswagen to unveil new Camper VanVolkswagen to unveil new Camper Van
Volkswagen is one of the strongest name in Europe when it comes to building commercial vehicles. So every concept coming from Volkswagen Commercial Vehicles ...

Market News

Volkswagen Group deliveries increase in first two moths of 2018Volkswagen Group deliveries increase in first two moths of 2018
Despite being overtaken by Renault-Nissan-Mitsubishi Alliance last year, Volkswagen Group continues its great momentum and scores high sales lso the the ...

Gadgets

Volkswagen Connect offered as standard on Polo and UpVolkswagen Connect offered as standard on Polo and Up
Volkswagen is updating its technology found in its small car range. The Up! and the Polo are targeted by this latest update. Volkswagen Connect – the ...

Various News

The next Volvo S60 won't have a diesel engineThe next Volvo S60 won't have a diesel engine
Volvo is one of those car manufacturers who have decided to take some real actions on the eco-side. And now we have another good news for you. The next ...

Motorsports

Volkswagen ID R Pikes Peak - officially unveiledVolkswagen ID R Pikes Peak - officially unveiled
Volkswagen has officially unveiled the new Volkswagen ID R Pikes Peak Concept. The car is set to compete in the famous Pikes Peak Hill Climb event which ...

Videos

Here is the Bugatti Veyron Vitesse WRC doing some fast stuff in off-roadHere is the Bugatti Veyron Vitesse WRC doing some fast stuff in off-road
A few year ago, Bugatti launched a special edition Veyron. Its name was Veyron Vitesse WRC but the WRC doesn't stand for World Rally Championship. Instead, ...