Jump to content

MyCarForum Logo
Search
Magnifying glass

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: 789 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
Purchase MPM engine oils and stand a chance to win $500 cash and a three-year supply of MPM...
POPULAR BLOG POSTS
Photo
Nissan has pulled the cover off the concept car, ahead of its public debut at the 2017 Tokyo Moto...
Photo
According to Autocar, McLaren's 720S is a hit in terms of sales. Many buyers are said to have...
Photo
Bridgestone showed their support to Singapore Polytechnic’s SunSPEC5 solar car team before they h...
Photo
Subaru has released a couple of photos of its new concept car, the Viziv Performance Concept. Is...
Photo
The MCF Hangout with Follow Me Japan, held at the Toyota showroom, offered members a taste of FMJ...
   Lifestyle Articles