General Motors’ central European arm, Opel, could be under threat of being sold off from GM after CEO Dan Akerson announced the company is reviewing options of what to do with Opel in the foreseeable future.
Akerson has expressed concerns over selling the brand in the past and was one of only a few board members who actually voted against holding onto Opel in 2009.
Now it seems the same sort of thinking has returned at GM. Accorinding to German newspaper Der Spiegel, GM is getting tired of Opel reporting consistent loses and is thinking of selling up.
However, sources who refused to be named told Reuters yesterday that selling was not a realistic option for GM, dismissing the German paper’s reports. It doesn’t mean Akerson is content with Opel’s business though. The same sources said in the report that,
“Akerson is fed up with Opel, and the turnaround isn’t gaining traction. He is trying to think of all possibilities to improve performance. But a sale is wishful thinking.”
Possible and rumoured prospective buyers for Opel include one of the fast-growing Chinese car firms, or Volkswagen. Volkswagen hasn’t commented on the matter.
Opel CEO Karl-Friedrich Stracke has said the reports of Opel being sold off are “pure speculation”.