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Opel boss denies sale rumors

in Auto
by Nicole
June 10, 2011 at 1:33 pm

The Opel CEO and sources in the German government have denied the rumors in the German press suggesting that they planned to sell the brand.

According to media reports, GM wants to sell Opel and potential customers include Volkswagen and several Chinese firms. Karl-Friedrich Stracke, head of Opel, has denied that rumor, calling it “pure speculation” from rivals who want to divert attention from the fact that Opel is again successful on the market. Dan Akerson, the head of General Motors, recently said that Opel and Holden will continue to play an important role in the future of the corporation.

In addition, a source says that Akerson is dissatisfied with the progress of the brand Opel and believes that the brand is not doing as well as it should. The source also added that the rumors in the German press about the sale of Opel are just speculation and that there is no formal discussion with any partner in this regard.

Opel maintains a close relationship with several GM platforms and the technology on which certain models function is used by the corporation globally, not always under the same logo. An anonymous source from the German government said that there is no intention to sell the Opel brand.

General Motors wants to focus on all possibilities of improving Opel’s performances. The American corporation wants to bring the Opel / Vauxhall division back on profit after it recorded losses of almost one billion pounds in 2010. Both market analysts and General Motors analysts expect Opel / Vauxhall to maintain a balance between profit and loss so that in 2012 they return to profit.

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