Jump to content


SEARCH

0

GM to inject €4 billion into ailing Opel

By SYF77 on 15 Apr 2013

Attached Image

General Motors (GM) has announced plans to invest 4 billion euros in its loss making Opel/Vauxhall subsidiaries in Europe over the next four years. The announcement was made by GM's Board of Directors at Opel's head office in Rüsselsheim, Germany.

"As a global automotive company GM needs a strong presence in Europe - in terms of design and development as well as manufacturing and sales," said Dan Akerson, Chairman and CEO of GM. "Opel is a key to our success and enjoys its parent company's full support," he added.

Attached Image

The money would allow Opel/Vauxhall to release 23 new models including the upcoming Cascada cabriolet and 13 new engine/transmission combinations by 2016. Opel has already introduced a brand new 1.6-litre SIDI Turbo gasoline engine and a 1.6-litre CDTI diesel engine. They develop 170bhp and 136bhp respectively.

In 2009, GM wasn't as optimistic as it sought to sell Opel, which was only halted at the eleventh hour. The European division has been hemorrhaging money for the past decade.

engine, new model, other news and 7 more...

Viewed: 815 times

Related Blog Posts
SYF77
Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.



 
Car Makes

Please select a car make

Facebook Likes
   Featured Blog Post
Photo
An authorised Ferrari dealership on Rokko Island has reported that 51 of the 53 Ferraris it had o...
POPULAR BLOG POSTS
Photo
More than 30 MyCarForum (MCF) members gathered at the Autobacs Ubi outlet the past Saturday morni...
Photo
The chief executive of German carmaker Audi, Rupert Stadler, has been arrested in connection with...
Photo
At the opening of the new franchise at Lorbek Luxury Cars in Melbourne, Australia, Koenigsegg sho...
Photo
Renault-Nissan-Mitsubishi Alliance has announced that it has saved nine billion dollars from work...
Photo
Volkswagen's Golf R, which has been facelifted this year, was given 10bhp more in its latest...
   Lifestyle Articles
   Tags