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Tag Archives: gm europe
GM to Announce Sale of Opel/Vauxhall this Monday with Investors’ Call and a Press Conference
If the deal goes through, it would mean GM’s presence in Europe would be limited to niche sales of Cadillac, and Chevrolet Camaro and Corvette models – all of them exports. PSA is the third largest automaker in Europe behind Renault. Volkswagen Group leads in Europe PSA Group’s sales were 1,930,000 vehicles and increased by 3.6% in 2016. In 2016, global sales increased by 5.8%, to 3,146,000 units. Continue reading
General Motors to Sell Opel/Vauxhall and Leave Europe?
If the PSA deal goes through, it would mean GM’s presence in Europe would be limited to niche sales of Cadillac, and Chevrolet Camaro and Corvette models – all of them exports. Continue reading
Posted in auto news, economy, milestones, news analysis
Tagged autoinformed, autoinformed.com, eu, European Parliament, gm europe, Ken Zino, Opel Vauxhall, opel/vauxhall, PSA
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Opel Union Members in Germany Vote Down Labor Deal
Today, IG Metall union member employees of Adam Opel AG in Bochum voted against a revised labor agreement that would have offered their location some long-term jobs while cutting others. Since Opel management at the loss making GM subsidiary previously said that no further negotiations on the proposed labor agreement will take place, the production of the Zafira Tourer and the exclusion of compulsory separations will run out by the end of 2014. Continue reading
Posted in auto news, labor issues, manufacturing, news analysis
Tagged auto informed, autoinformed.com, automotive news, eu, gm europe, Ken Zino, opel
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EU Car Sales Continue to Evaporate in October – Off -5%
The economic decline of the European Union continued in October as sales of new passenger cars contracted by 5% to 959,412 compared to October of 2011. It was the thirteenth straight month of sales declines across the economically embattled Eurozone as the trade bloc comprised of 27 bickering nations is unable to move out of the economic doldrums. Continue reading
Posted in auto news, economy, news analysis, sales
Tagged auto informed, autoinformed.com, automotive news, chrysler europe, eu, eu sales, eurozone, fiat europe, ford Europe, gm europe, Ken Zino
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EU Cars Sales Drop 9% in August as Eurozone Crisis Continues
The crisis in the Eurozone continued unabated as new car sales dropped 9% in August year-over-year after declining by 7.8% in July. As a result, in the 27 countries that comprise the EU, sales dropped to 688,000 vehicles. Year-to-date sales are down to 8.3 million units, the lowest in decades and the fifth straight year of sales declines. Continue reading
Posted in auto news, marketing, news analysis, results, sales
Tagged august car sales, auto informed, autoinformed.com, automotive news, chrysler, eu car sales, eurozone crisis, Fiat, ford Europe, gm europe, Ken Zino, opel
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GM Europe President, Opel Head Karl Stracke Ousted over Losses
Insiders say that Akerson has told Girsky that it is time to show that Opel can be saved. For an ambitious Girsky who wants to head GM some day, this is a make or break appointment on the GM journey, a road strewn with road kill of former senior GM executives. Continue reading
Posted in auto news
Tagged akerson, auto informed, autoinformed.com, automotive news, eu, girsky, gm europe, Ken Zino, opel, stracke
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Opel Woes Continue as EU Auto Sales Decline In April. Latest Turnaround Plan Faces Fierce Union Fight over Plant Closings
Worrisome for GM shareholders, including the U.S. taxpayers who still own 32% of the world’s largest, but only marginally profitable, automaker after a $50 billion bailout, Stracke told employees that Opel will stay with existing labor agreements through 2014. With the European auto market headed for its fifth straight year of sales declines and with no upturn predicted for years, it’s impossible to see how Opel will cease being a drag on GM earnings. Continue reading
GM Buys 7% of PSA Peugeot Citroën to Share Parts, Vehicles
PSA already has partnerships with Ford on diesel engines, and Toyota, BMW, and Mitsubishi on components and engines. A previous GM venture started in Europe with Fiat in 2000 failed in 2005 when GM spent $2 billion to buy its way out of a put option in the deal that allowed Fiat to sell its automotive company to GM for market value. Globally, alliances have had mixed results at automakers. Continue reading
PSA Peugeot Citroën in Alliance Talks with GM
Neither General Motors nor PSA have officially confirmed the talks, other than to say that discussions with other automakers routinely occur. Last week Peugeot posted weak results as Group operating income declined to €1,315 million from €1,796 million in 2010. GM has been losing money at Opel for more than a decade – $700 million in 2011 alone. Continue reading
Posted in auto news, economy, financial results, news analysis, results
Tagged auto informed, autoinformed.com, automotive news, citroën, gm europe, gm psa, Ken Zino, opel, pas group, psa gm, psa peugeot citroen, psa results
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GM Europe President Nick Reilly Retires in March 2012. Karl Stracke Assumes Role in January; Remains Opel/Vauxhall CEO
The moves come as the economy of Europe remains battered, with auto sales on track to decline for the fourth straight year. During the first nine months of 2011, only 10,121,423 new cars were registered in the region, or 1.1% less than in the same period a year ago. Fiat, the owner of Chrysler, Ford and General Motors are all struggling to keep their European operations viable as all are losing market share. Results at Opel/Vauxhall and GM Europe are central to GM’s financial success, of course. Continue reading
Posted in auto news, news, people
Tagged auto informed, auto news, autoinformed, autoinformed.com, automotive news, gm europe, karl stracke, Ken Zino, nick reilly, opel, opel/vauxhall, zino
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Karl-Friedrich Stracke Confirmed as Opel Vauxhall CEO
Last year the German government – facing a taxpayer revolt and big deficits that foreshadowed the current budget turmoil in the United States – refused to provide €1.1 billion in subsidies that GM wanted for Opel, saying the company had enough cash to keep Opel running. Continue reading
Posted in auto news
Tagged auto informed, auto news, autoinformed, autoinformed.com, automotive news, daewoo, gm europe, karl-friedrich stracke, Ken Zino, nick reilly, opel, opel ampera, opel vauxhaul, zino
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