ˆ Opel/Vauxhall dealers to buy stake in brands

tags : german automaker , german automaker bailout , german automakers , germanautomaker , germanautomakerbailout , germanautomakers , opel , opel dealers , opeldealers , vauxhall , vauxhall dealers , vauxhalldealers

With the German government taking a very cautious approach towards extending a helping hand to GM's Opel division (Vauxhall in the U.K.), a large group of the brand's dealerships have hatched a scheme that could see them take a minority stake in the company. Under the proposal, participating dealers would put 150 euros from each Opel or Vauxhall vehicle sold into an account for the next three years. The total investment would equal 400 million euros, which would only buy a minority stake in the automaker and is far short of the 3.3 billion euros ($4.15 billion) that General Motors says Opel needs to survive in its present state. Still, the dealers believe it would be a solid way to show their support for the brand and enough to show how serious they are about preserving the automaker and their investment in the company.

posted : 6/1/2009 @9:56:48 AM

ˆ Germany not pleased with Opel's "inadequate" rescue plan

tags : german automaker , german automaker bailout , german automakers , german opel bailout , germanautomaker , germanautomakerbailout , germanautomakers , germanopelbailout , germany , opel , opel bailout , opelbailout

Opel, General Motors' Deutsch subsidiary, may have hit a snag in its bid for government assistance from the German government. According to Automotive News, Finance Minister Peer Steinbrueck says of the proposal as it currently stands: "is not a workable basis for a decision." Steinbrueck said that Germany is willing to offer assistance to its domestic automakers, "But we can't make decisions that are irresponsible on a completely inadequate basis."
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posted : 5/25/2009 @12:52:16 PM