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Wed July 27, 2011
GM CEO says European division Opel is not for sale
Reports have swirled that GM plans to sell its European division, Opel, for more than a month:
Both Der Spiegel and Auto Bild write that GM could throw in the towel on Opel and will put the loss making European division up for sale. Both papers are known to have high-ranking inside sources, both in Wolfsburg and in Berlin.
Auto-Bild: “GM is slowly wising up to the fact that the reasons that led to the planned Opel sale in 2009 have not changed.”
GM CEO Akerson says those reports are wrong.
From the Associated Press:
General Motors CEO Daniel Akerson says the company's European car business is not for sale.
There have been numerous reports that GM wanted to sell its Opel operations.
But Akerson told reporters at the opening of contract talks with the United Auto Workers that Opel would not be sold.
GM's European car business has struggled to make money during the economic downturn.
GM War Room