GM Considering Selling Opel Again, This Time To Volkswagen
The ghost of Saturn just can’t cut a break. GM is considering what to do with Opel, its German division that won’t be turning a profit anytime soon.
GM last tried to sell Opel in 2009 before giving the ailing brand another chance. But despite increasing its lineup with new vehicles, and even increased sales, the company continues to bleed cash. “[GM CEO Dan] Akerson is fed up with Opel, and the turnaround isn’t gaining traction,” said an anonymous source inside the company. Unsurprisingly, nobody is willing to comment on the situation—though Klaus Franz, head of Opel’s works council, called the sale “pure speculation.” So there’s that.
There are a few possibilities for GM’s Opel dilemma: the company is looking to expand in China, and Opel could go to any number of eager Chinese carmakers. Or, according to German magazine Spiegel, it could go to crosstown rival Volkswagen—feeding the VW corporate juggernaut on its goal of global domination. Volkswagen and Opel, dominating the German car market? There’s a reason why nobody has commented on the situation: because it seems too unbelievable (yet unsurprising) to be true.
[Source: Spiegel Online]
More by Blake Z. Rong
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