General Motors believes its European Opel brand can easily compete with the likes of rival Volkswagen and wants to steer it upmarket, GM Europe chief Nick Reilly said on Tuesday.
The chief representative of employees at German carmaker Opel has called on parent company General Motors to put an end to rumours that it is considering selling off its European unit.
US carmaker General Motors is once again considering selling it’s troubled German unit Opel, according to the media on Thursday. Opel dismissed the reports as "speculation."
Incoming Opel boss Karl-Friedrich Stracke is planning to slash some 1,200 jobs at the troubled German carmaker’s Bochum plant on the traditional labourers holiday May 1, a media report said Friday.
Opel, the European unit of US auto group General Motors, expects to report a loss of €1.4 billion this year, Opel head Nick Reilly said in a magazine interview in Frankfurt on Monday.
German new car sales should top 2.9 million vehicles this year, the industry federation VDA said on Tuesday, though its upgraded outlook still signals a sharp drop from 2009.
German automaker Opel, a unit of US car giant General Motors, said Monday it would shut down a plant in Antwerp, Belgium by the end of the year because no suitable buyer had been found.
Opel has reportedly enlisted the help of Germany’s sparkling 2010 Eurovision Song Contest winner Lena Meyer-Landrut for a new advertising campaign meant to burnish the ailing carmaker's frumpy image.
Germany’s advertising watchdog on Tuesday threatened to sue carmaker Opel for misleading customers with a widely advertised promise of a “lifetime guarantee” on all new cars.
Beleaguered German automaker Opel announced on Thursday it would offer a ‘lifetime guarantee’ on its cars in an attempt to attract new customers and boost its flagging market share.
General Motors ended its quest for state aid from EU government for its troubled German unit Opel on Wednesday, saying it now had the financial firepower to finance a restructuring itself.
Four German states with Opel factories are ready to provide financial assistance to US auto giant General Motors, Chancellor Angela Merkel said Thursday after meeting regional officials.
The German government has turned down a request from General Motors for €1.1 billion ($1.3 billion) in state loan guarantees for its Opel unit, Economy Minister Rainer Brüderle said Wednesday.
The prospect of state aid for car maker Opel dimmed on Monday with a large number of government MPs reportedly against giving government help to the firm.
Three German states home to Opel factories are reportedly set to grant requested financial guarantees, but the carmaker's parent group GM is still waiting for word on similar aid from the federal government.
General Motors' European unit Opel and European unions have agreed on the terms of a long-awaited restructuring plan for the troubled company, Opel said on Friday.
Russian bank Sberbank reached a deal with GM on compensation it had claimed for losses incurred after the US auto giant dropped plans to sell its Opel unit, the companies said on Monday.
US carmaker General Motors will pour substantially more money into its struggling German unit Opel than previously planned, the company announced on Tuesday.
Opel boss Nick Reilly presented on Tuesday a plan for the future of the ailing General Motors unit, with a forecast loss of 8,300 jobs from a total of around 50,000, as expected.
The European Union’s competition watchdog vowed on Sunday to keep a tight rein on how state aid is given to ailing carmaker Opel, as the firm’s parent company prepares its pitch for help from countries including Germany.
Top managers at the beleaguered carmaker Opel will once again be eligible for bonuses, sparking anger from company workers facing layoffs, the head of the staff association said Saturday.
The US automaker General Motors has paid €650 million to its European unit Opel/Vauxhall to cover engineering services amid a restructuring of the troubled division, GM said on Monday.
German auto maker Opel said Friday that General Motors' Nick Reilly has been named new chief executive responsible for Opel and its sister brand Vauxhall as part of a broad restructuring.
