Opel’s new owner won’t be able to sell cars in U.S. or China

Earlier this week Opel managed to secure a $2.1 billion bridge financing package from the German government to keep itself operating until ownership is transferred from GM to another investor. This new investor will be Canada’s Magna International, which together with Russian bank Sherbank, has signed a memorandum of understanding (MoU) with GM and the German government for the eventual sale of Opel.

Magna’s main purpose in acquiring Opel is to build cars and expand into the emerging Russian market. However, there were also reports that Magna may use Opel’s plants to start churning out cars for other automakers, including Ford and Ford and PSA Peugeot Citroen. While the exact future plans of Magna and Opel are still relatively unknown, we can confirm that no Opel models will be sold in the U.S. or China for the time being.

Magna founder Frank Stronach has revealed to Automotive News that his company is prevented by an agreement with GM from selling Opel cars in those key markets. Stronach did however hint that there may be a chance in the future as GM will still keep a 35% stake in Opel so it’s in the U.S. automaker’s best interest to see the deal thrive.

He suggested the prohibition on Opel sales in China might be flexible: "If it makes economic sense you might persuade people to change something." Stronach also revealed that he expects Opel to break even in three years, and to turn a profit in four.

This means that we’re unlikely to see stylish cars like the all-new 2010 Astra and 2009 Insignia sold in the U.S., though GM still owns the rights to these vehicles and their respective platforms. This means the cars could be sourced from non-Opel factories, just as GM does for its Insignia-based Buick Regal in China.