In a move which could open further European opportunities for Holden, General Motors has decided to abandon plans to sell its German subsidiary Opel.
Following a lengthy process of soliciting potential investors, GM has announced it will invest 3 billion Euros to restructure its European operations.
This is significantly less than the highest offer it received from numerous interested buyers – the most prominent of which was the Magna corporation with partners from Russia.
GM will now work with the German government, unions, suppliers and dealers to quickly develop an ongoing, viable business plan for Opel.
Pleasingly, while the search for a buyer was underway, - with improved economic conditions and some standout new models - Opel has actually been outperforming its current business plan delivering sales growth and profits.
GM also hopes to secure a larger slice of the growing Russian automotive market and will partner with GAZ to modernize its operations in that nation as well.
Currently Holden sources the sporty HSV VXR from Europe but decided to terminate the European-sourced Astra. Car Showroom saw the all-new Opel Astra unveiled at the Frankfurt Motor Show a few months ago and it’s a stunner which has enjoyed rave reviews from the European media.
We’ll cross our fingers that this new direction for GM’s German brand will open doors for Holden and perhaps bring the new Astra downunder – in some form at least.
