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.
There are three companies which want to own the marque: Italian automaker Fiat, Russian-Canadian partnership VAZ-Magna and Belgian investment consortium RHJ international. If German government approves one of the bidders, it promises to give a $9.7 billion loan to support and restore the development of the manufacturer.
It has been reported that Chinese automaker Beijing Auto has also planned to bid, but they were too late and the bid was turned off.
Before the final decision is made the German authorities want the U.S. Treasury to protect Opel from GM bankruptcy filing. If this condition is done, Berlin offers a $2.1 billion bridge loan that will help Opel to survive in the time of ownership change.
Opel Sale: to Be or not to Be
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.
Ferrari Is Struggling…
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.
Chery Builds a Plant in Brazil
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 Hopes for a Good Year
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 Leaves Tata
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.