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Motor Authority - blog Tag: Opel

  • Opel Boss Carl-Peter Forster Calls It Quits

    Opel Boss Carl-Peter Forster Calls It Quits November 6th, 2009 By Viknesh Vijayenthiran Viknesh Vijayenthiran, Author, November 6th, 2009 Viknesh Vijayenthiran 8 Comments

    Opel Boss Carl-Peter Forster Calls It Quits

    Carl-Peter Forster, GM group vice president and president of Opel, will be leaving his role as head of the European operation and will advise the company during the transition to find a new CEO, it was announced today.

    With the departure of Forster, GM will initiate an immediate external search for a new CEO for Opel. Expected to replace him, believe it or not, is GM's Bob Lutz.

    The move comes just days after GM decided to keep Opel rather than selling it to a consortium of buyers led by Magna International and Russia's Sberbank.

    No other management changes to the Opel organization are being considered at this time, and that all key...

    Carl-Peter Forster, GM group vice president and president of Opel, will be leaving his role as head of the European operation and will advise the company during the transition to find a new CEO, it was announced today. With the departure of Forster, GM will initiate an immediate external search for a new CEO for Opel. Expected to replace him, believe it or not, is GM's Bob Lutz. The move comes just days after GM decided to keep Opel rather than selling it to a consortium of buyers led by Magna International and Russia's Sberbank. No other management changes to the Opel organization are being considered at this time, and that all key management roles remain while the search for a new CEO continues. Perhaps most telling in the whole fiasco, GM still has plans for Opel cars here in the U.S. Although Saturn was previously the primary outlet for re-badged Opels in America, Buick recently confirmed a redesigned Insignia to be sold as the Regal. For more on what may be in store for that car, read up on our preview story here. [General Motors] Read More

  • GM To Keep Opel, Sale To Magna Off

    GM To Keep Opel, Sale To Magna Off November 3rd, 2009 By Nelson Ireson's avatar Nelson Ireson, Author, November 3rd, 2009 Nelson Ireson 7 Comments

    GM To Keep Opel, Sale To Magna Off




    Late last month reports emerged that GM's sale of Opel to a consortium of buyers led by Magna International and Russia's Sberbank could be done as early within weeks. Since then, the deal hasn't quite come to completion, undergoing scrutiny from the EU for fairness in the bidding process. Today, GM made all the hubbub around the Opel sale meaningless by announcing it has decided to keep the brand.

    GM CEO Fritz Henderson summed up the decision succinctly: "This was deemed to be the most stable and least costly approach for securing Opel/Vauxhall’s long-term future." He also acknowledged that the whole ordeal has been "draining" for all...

    Late last month reports emerged that GM's sale of Opel to a consortium of buyers led by Magna International and Russia's Sberbank could be done as early within weeks. Since then, the deal hasn't quite come to completion, undergoing scrutiny from the EU for fairness in the bidding process. Today, GM made all the hubbub around the Opel sale meaningless by announcing it has decided to keep the brand. GM CEO Fritz Henderson summed up the decision succinctly: "This was deemed to be the most stable and least costly approach for securing Opel/Vauxhall’s long-term future." He also acknowledged that the whole ordeal has been "draining" for all involved, but was unapologetic about the sale reversal. The drama isn't over, however, as the economic situation in Europe, especially for the car industry, is still touch-and-go. Quick action to restructure Opel/Vauxhall's operations and investment in the company by EU governments will be necessary to pull the company through according to the new plan. The delay that preceded the switcheroo was rooted in EU concern for the bidding process and its fairness. According to a late October posting to GM's FastLane blog by John Smith, GM Group Vice President, Corporate Planning and Alliances, "Last week, the Directorate-General for Competition expressed concerns about possible limitations on the availability of government financing for all Opel bidders, and how that may have influenced the selection process. "The German Government was asked by DG Competition to communicate its position on financing availability to GM and the Opel Trust Board who, in turn, were requested to consider the recommended bidder for Opel accordingly." Negotiation of the finer details was ongoing for about a month, though the agreement did make clear the general shape of the deal: GM would have retained 35% of Opel, with 10% reserved for Opel employees, and the Magna-Sberbank group would have taken the remaining 55%. Perhaps most telling in the whole deal, GM still has plans for the brand's cars here in the U.S. Although Saturn was previously the primary outlet for re-badged Opels in America, Buick recently confirmed a redesigned Insignia to be sold as the Regal. For more on what may be in store for that car, read up on our preview story here.[GM] Read More

  • Spy Shots: 2010 Opel Meriva

    Spy Shots: 2010 Opel Meriva September 24th, 2009 By Viknesh Vijayenthiran's avatar Viknesh Vijayenthiran, Author, September 24th, 2009 Viknesh Vijayenthiran 0 Comments

    Spy Shots: 2010 Opel Meriva

    General Motors’ next-generation Opel Meriva compact MPV has been caught undergoing testing once gain. Though it remains in full camouflage, many details are still discernible, including the overall shape, which remains close to the original Meriva concept car from last year's Geneva Auto Show.

    The front door’s handle and the general construction of the doors and rubber strips indicate the rear-opening rear doors of the concept are gone. The suicide door configuration makes for better display in a car show booth, but is both inconvenient and hard to get past the legal department in the real world.

    The simple and attractive front...

    General Motors’ next-generation Opel Meriva compact MPV has been caught undergoing testing once gain. Though it remains in full camouflage, many details are still discernible, including the overall shape, which remains close to the original Meriva concept car from last year's Geneva Auto Show. The front door’s handle and the general construction of the doors and rubber strips indicate the rear-opening rear doors of the concept are gone. The suicide door configuration makes for better display in a car show booth, but is both inconvenient and hard to get past the legal department in the real world. The simple and attractive front fascia, minimalist outlines, and overall configuration remain very close to the concept’s design, however. Small detail differences include the addition of a tailpipe (hidden on the concept) and the removal of the rear roof spoiler and addition of an antenna in its place. The treatment of the rear windows and rear hatch area seem to indicate both the angular upsweep before the C-pillar and the hourglass-shaped rear hatch will carry over into production. The tail lights, though heavily camouflaged, carry a hint of the outline of the concept’s large and stylistic units as well. The new Meriva is expected to make its world debut early next year and should be on sale across Europe by the end of the year. Read More

  • GM Approves Opel Majority Sale to Magna International And Sberbank

    GM Approves Opel Majority Sale to Magna International And Sberbank September 10th, 2009 By Viknesh Vijayenthiran's avatar Viknesh Vijayenthiran, Author, September 10th, 2009 Alex Kaufmann 1 Comment

    GM Approves Opel Majority Sale to Magna International And Sberbank

    General Motors today announced that its Board of Directors supports a bid from the consortium of automotive parts supplier Magna International and Russian bank Sberbank to buy a majority stake in its European Opel (Vauxhall) operations.

    Several key issues will be finalized over the next few weeks to secure the binding agreements, including the written support of the labor unions to support the deal, as well as the finalization of a definitive financing package from the German government.

    The final agreements should be ready to sign within a few weeks, with closing to follow within the next few months. Under the deal, Magna and Sberbank will...

    General Motors today announced that its Board of Directors supports a bid from the consortium of automotive parts supplier Magna International and Russian bank Sberbank to buy a majority stake in its European Opel (Vauxhall) operations. Several key issues will be finalized over the next few weeks to secure the binding agreements, including the written support of the labor unions to support the deal, as well as the finalization of a definitive financing package from the German government. The final agreements should be ready to sign within a few weeks, with closing to follow within the next few months. Under the deal, Magna and Sberbank will purchase a 55% stake in New Opel (the restructured company), while GM will retain a 35% stake and the last 10% stake reserved for Opel’s employees. The agreement will keep Opel a fully integrated part of GM’s global product development organization, allowing all parties to benefit from the exchange of technology and engineering resources. Read More

  • Rendered: 2011 Opel Astra Sport Coupe

    Rendered: 2011 Opel Astra Sport Coupe September 2nd, 2009 By Viknesh Vijayenthiran's avatar Viknesh Vijayenthiran, Author, September 2nd, 2009 Viknesh Vijayenthiran 4 Comments

    Rendered: 2011 Opel Astra Sport Coupe

    With Opel’s new Astra out in the open, attention can now turn to variants other than the regular five-door Hatchback that’s been plastered all over the web in recent months. While a new Wagon and stylish Cabrio have already been speculated on, new reports indicate the sporty three-door Sport Coupe will also make a return but this time around it will be much more aggressively styled than the regular five-door.

    The Astra's chief designer, Malcolm Ward, recently revealed that the Sport Coupe would feature a far more rakish and lower profile than the current model and would arrive on the market in 2011. The car will also spawn a...

    With Opel’s new Astra out in the open, attention can now turn to variants other than the regular five-door Hatchback that’s been plastered all over the web in recent months. While a new Wagon and stylish Cabrio have already been speculated on, new reports indicate the sporty three-door Sport Coupe will also make a return but this time around it will be much more aggressively styled than the regular five-door. The Astra's chief designer, Malcolm Ward, recently revealed that the Sport Coupe would feature a far more rakish and lower profile than the current model and would arrive on the market in 2011. The car will also spawn a high-performance OPC (VXR) variant, though details on this model are yet to be confirmed. OPC, which stands for ‘Opel Performance Center,’ is the name given to models developed by Opel’s official in-house tuner and typically feature minor engine and handling mods as well as styling and performance upgrades such as bigger wheels and sporty bodykits. Opel's designers will be building upon more than 600 hours of wind tunnel testing that went into the regular five-door model to ensure the new sports hatch is much more aerodynamic. Opel is taking the economy gains that can be had from better aerodynamics very seriously and utilized a number of new design touches to improve efficiency. The front bumper, for example, will be angled to direct air past the wheel and on to the side of the car. There will also be sculpted areas around the rear lights to reduce the pool of air that gathers behind hatchbacks, cutting drag. The new Astra is crucial for Opel as it will need to recover market share lost by the current model to Ford’s strong-selling Focus hatch as well as fend off the Fiesta compact, and with a number of new and exciting variants in the works it may just accomplish this goal. Read More

  • GM Considering Plan To Keep Opel

    GM Considering Plan To Keep Opel August 25th, 2009 By Viknesh Vijayenthiran's avatar Viknesh Vijayenthiran, Author, August 25th, 2009 Alex Kaufmann 7 Comments

    GM Considering Plan To Keep Opel

    General Motors CEO Fritz Henderson has previously stated that a new buyer for Opel would be picked this year and that at least three different companies were still in the bidding. Those three companies included auto parts supplier Magna International, private equity group Ripplewood Holdings and Chinese automaker Beijing Automobile Co. (BAIC), however, late last month reports emerged claiming the German government and GM had failed to agree on a buyer though Magna is said to be the leading contender.

    Now it appears that GM has a backup plan to keep Opel all for itself. Latest reports indicate that GM is considering a plan to raise funding to...

    General Motors CEO Fritz Henderson has previously stated that a new buyer for Opel would be picked this year and that at least three different companies were still in the bidding. Those three companies included auto parts supplier Magna International, private equity group Ripplewood Holdings and Chinese automaker Beijing Automobile Co. (BAIC), however, late last month reports emerged claiming the German government and GM had failed to agree on a buyer though Magna is said to be the leading contender. Now it appears that GM has a backup plan to keep Opel all for itself. Latest reports indicate that GM is considering a plan to raise funding to keep Opel as an alternative to selling the unit. At a board meeting last Friday, GM directors declined to endorse a sale of Opel to Magna, sending the automaker back into negotiations this week with the German government. A person familiar with Magna’s plans previously revealed that the parts supplier had increased its bid for Opel, from the original 20% stake it envisioned, to 27.5%. Under the new plan, Magna and Sberbank, Magna's Russian partner, would own 55% of Opel--27.5% each--while the remaining 35% would go to GM and 10% would go to Opel employees. However, while GM remains focused now on trying to clear remaining issues with the Magna deal, executives also are considering other options, including raising more than $4 billion in a bid to keep Opel, sources said. To raise the necessary funds, GM could potentially sell or mortgage its assets in China. In the meantime, the German government is providing Opel with bridge loans to stay afloat while the bids continue to be studied. GM has also asked Germany for financial assistance for the brand. [Reuters] Read More

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