Tag Archives: opel

Opel Union Members in Germany Vote Down Labor Deal

Today, IG Metall union member employees of Adam Opel AG in Bochum voted against a revised labor agreement that would have offered their location some long-term jobs while cutting others. Since Opel management at the loss making GM subsidiary previously said that no further negotiations on the proposed labor agreement will take place, the production of the Zafira Tourer and the exclusion of compulsory separations will run out by the end of 2014. Continue reading

Posted in auto news, labor issues, manufacturing, news analysis | Tagged , , , , , , | Leave a comment

Karl-Thomas Neumann formerly of VW Now GM Europe Head

The Opel Supervisory Board today named Karl-Thomas Neumann, 51, chairman of the Management Board of Adam Opel AG, effective March 2013. General Motors also appointed Neumann president of its loss making GM Europe subsidiary and a GM vice president. Neumann will be in charge of a plan to return Europe to breakeven by 2015. Continue reading

Posted in auto news, news analysis, people | Tagged , , , , , , , | Leave a comment

EU Cars Sales Drop 9% in August as Eurozone Crisis Continues

The crisis in the Eurozone continued unabated as new car sales dropped 9% in August year-over-year after declining by 7.8% in July. As a result, in the 27 countries that comprise the EU, sales dropped to 688,000 vehicles. Year-to-date sales are down to 8.3 million units, the lowest in decades and the fifth straight year of sales declines. Continue reading

Posted in auto news, marketing, news analysis, results, sales | Tagged , , , , , , , , , , , | Leave a comment

EU Passenger Car and Commercial Vehicles Sales Down Again

Thus far the European auto industry has done little to reduce its capacity, which is now widely discordant with constantly falling demand. GM is planning to close its Opel Zafira plant in Bochum, Germany after the run-out of the current Zafira in 2015, but that is not enough to return Opel to profitability after decades of losses totaling hundreds of billions dollars. Opel employs 20,800 people across Germany and more than 40,000 across Europe. The head of GM Europe was ousted earlier this month over the continuing losses and the lack of progress. Continue reading

Posted in auto news, marketing, news, news analysis, results, sales | Tagged , , , , , , , , , , , | Leave a comment

GM Europe President, Opel Head Karl Stracke Ousted over Losses

Insiders say that Akerson has told Girsky that it is time to show that Opel can be saved. For an ambitious Girsky who wants to head GM some day, this is a make or break appointment on the GM journey, a road strewn with road kill of former senior GM executives. Continue reading

Posted in auto news | Tagged , , , , , , , , , | Leave a comment

GM Buys 7% of PSA Peugeot Citroën to Share Parts, Vehicles

PSA already has partnerships with Ford on diesel engines, and Toyota, BMW, and Mitsubishi on components and engines. A previous GM venture started in Europe with Fiat in 2000 failed in 2005 when GM spent $2 billion to buy its way out of a put option in the deal that allowed Fiat to sell its automotive company to GM for market value. Globally, alliances have had mixed results at automakers. Continue reading

Posted in auto news, economy, financial results, news analysis | Tagged , , , , , , , , , , , | Leave a comment

PSA Peugeot Citroën in Alliance Talks with GM

Neither General Motors nor PSA have officially confirmed the talks, other than to say that discussions with other automakers routinely occur. Last week Peugeot posted weak results as Group operating income declined to €1,315 million from €1,796 million in 2010. GM has been losing money at Opel for more than a decade – $700 million in 2011 alone. Continue reading

Posted in auto news, economy, financial results, news analysis, results | Tagged , , , , , , , , , , , | Leave a comment

General Motors Revises Opel Supervisory Board. European Reorganization, Layoffs and Plant Closures Imminent?

The Opel Board, as well as GM’s Board of Directors, has the task of returning GM’s European Operations to sustainable profitability, after years of stopgap measures by previous GM management teams that did not accomplish this. Further cost cutting is needed, which likely means politically contentious plant closures. On a Q3 earnings phone call with reporters earlier this month, CFO Amman said that nothing would be ruled out to return Opel to profitability. Continue reading

Posted in auto news, economy, financial results, news, people, results | Tagged , , , , , , , , , , , , | Leave a comment

GM Europe President Nick Reilly Retires in March 2012. Karl Stracke Assumes Role in January; Remains Opel/Vauxhall CEO

The moves come as the economy of Europe remains battered, with auto sales on track to decline for the fourth straight year. During the first nine months of 2011, only 10,121,423 new cars were registered in the region, or 1.1% less than in the same period a year ago. Fiat, the owner of Chrysler, Ford and General Motors are all struggling to keep their European operations viable as all are losing market share. Results at Opel/Vauxhall and GM Europe are central to GM’s financial success, of course. Continue reading

Posted in auto news, news, people | Tagged , , , , , , , , , , , | Leave a comment

Karl-Friedrich Stracke Confirmed as Opel Vauxhall CEO

Last year the German government – facing a taxpayer revolt and big deficits that foreshadowed the current budget turmoil in the United States – refused to provide €1.1 billion in subsidies that GM wanted for Opel, saying the company had enough cash to keep Opel running. Continue reading

Posted in auto news | Tagged , , , , , , , , , , , , , | Leave a comment

Opel Shuts German, Spanish plants for Japanese Parts Shortage; Management Shifts as Stracke Returns as Opel CEO

There is a certain amount of friction between Opel and Chevrolet factions inside GM as both brands compete for the same customers, and Chevrolet increasingly turns to GM’s Korean subsidiary Daewoo as a source for small cars that Opel once designed exclusively. Opel’s future is clearly as a regional European brand in a market where it is struggling. Continue reading

Posted in auto news, economy, news analysis, people | Tagged , , , , , , , , , , , , , | Leave a comment