Opel goes to Magna and Sberbank
The uncertainty is over.
Although many feared that after endless meetings and discussion GM would not give away Opel but instead keep it to rebuild GM, it will finally go to Magna and its investors. Although this put an end to endless speculations, many workers at Opel now fear for their jobs. German Minister of Economics Affairs, zu Guttenberg, confirmed rumors that Magna will lay off more workers than initially expected. Latest news are speaking of up to 4,500 jobs that will be cut in Germany. Most of these will be in the area of production but also administrative job will fall away.
But Opel also has demands against former owner GM. Until recently GM decided in which countires Opel models are to be sold. It took long until Opel models could be sold in the US under its American brand Saturn. But still today, many Europeans are wondering why many of those attractive and efficient German Opel models never made their way into the American market. The reason seems obvious: cannibalisation. Why buy a Chevrolet when you can have the technologically superior European Opel models? Let’s hope Opel under Magna will have the possibility to enter more international markets that bear opportunities.