General Motors Vice Chairman Steve Girsky says that Opel is not for sale

Article by Christian A., on January 12, 2012

Opel is not for sale but rather, its officials are looking at implementing plans so that the company’s issues would be resolved, according to General Motors Vice Chairman Steve Girsky who was interviewed at the Automotive News World Congress last Tuesday. Fiat-Chrysler CEO Sergio Marchionne had revealed that Opel and PSA/Peugeot-Citroen are potential targets.

Marchionne said that for the company to raise efficiencies and reduce development costs, it may decide to merge with another automaker. In 2009, Marchionne made a bid for Opel but it eventually withdrew.

In the later part of 2009, GM decided that it will keep Opel and sister brand Vauxhall instead of selling them to supplier Magna International Inc. Girsky became chairman of Opel's supervisory board in November 2011. GM CEO Dan Akerson tasked Girsky to revive a unit that has reported about $13 billion in losses since 1999.

Last November, GM backtracked on a previous forecast that its European operations will break even in 2011 for the first time in years due to the declining economy. Girsky reminded the Congress about the company’s commitment to making its European business become profitable once again.

Girsky, who used to be an analyst at Wall Street, said that four or five months will pass (in May or June) before it could be determined if the U.S. sales of GM's Chevrolet Volt plug-in hybrid will be satisfactory.

In 2011, GM failed to reach its 10,000-unit target as it sold just 7,671 Volts in the U.S. Its sales were adversely affected by a federal investigation of fires that took place after Volt crashes. GM has presented a repair for this matter however, its executives downplayed sales expectations for the Volt this year when they were asked at the sidelines of the Detroit Auto Show.

Topics: general motors, opel

If you liked the article, share on:

Comments

Recommended

New and improved 2018 Subaru Legacy comes packed with a number of upgraded features from the get go - from the exterior to the interior. And the company has finally...
by - June 23, 2017
In an interview involving Lamborghini CEO Stefano Domenicali and Automotive News, the topic about the Urus was thoroughly discussed. This super SUV is scheduled to make its debut later this...
by - June 23, 2017
Porsche definitely adores variety. You’ll see what we mean if you browse through the official company's website that shows a plethora of various 911 models. And now, the German marque...
by - June 23, 2017
2018 Ford Expedition is on its way to the market, and will be arriving at dealerships this fall. The all-new SUV will come with a new design, new EcoBoost engine,...
by - June 23, 2017
The 2018 Porsche 911 GT2 RS that made its debut not so long ago at the E3 video game expo in Los Angeles has already been sold out according to...
by - June 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries