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Opel deal still remains unsolved and now General Motors thinks about keeping the brand. So far the spokesman of the company says they would not comment anything on Opel story.
Just couple months ago the deal with Magna-VAZ seemed very clear, the companies have agreed on almost all points of the sale, and had to sign the last documents last Thursday, but European Union interfered and did not allow selling German brand to the Canadian-Russian partnership. According to the EU competition head Neelie Kroes Germany was ready to give state aid for Opel recovery to Magna bidding group, but since Russian firm joined them, it changes the conditions and breaks the internal market rules of the European Union.
The American manufacturer still has strong hope that the deal with Magna will work out. This would be the best solution, but if not, GM will be forced to restart Opel sale or keep the brand. If Opel remains in GM possession, it will have to be restructured either with the help of government support or through a hard road of bankruptcy that GM had to undergo itself.
Opel is still the center of attention in the automotive industry. The bidders are ready to take over the company and start working with it, but the final word is up to German government.
Some companies have already went through economic difficulties last year when they had to cut down workforce or stop the functioning of their facilities for several days or even weeks. Seems that this time it is Ferrarri’s turn.
Chinese auto manufacturers are becoming stronger and it looks like they are going to be really good competitors to the world-famous brands. Here is an example of their growth and increased sales.
GM announced that the troubles are over and the company is planning to rise from the crisis. In the beginning of last year the situation became so bad that the manufacturer had to announce bankruptcy in July. The second half has not been sweet either: General Motors suffered a $4.3 billion loss in profit.
Daimler AG has announced that is sold 5.34% of the stake in Tata Motors. The German company has raised more than $400 million for the shares it did not want to hold any more.