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Opel secure German government bailout


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The German government has finally agreed to provide support for Opel, a day after the US government rejected General Motors’ request for an extra $16bn (£11bn) of aid.

Chancellor Angela Merkel said: “An investor [in Opel] will of course have state support. I am assuring you of that explicitly, not only for the state governments, but also for the federal government. We have tools for that.”

While Opel has asked for €3.3bn (£3bn), Vauxhall is also looking for money from the UK government. Vauxhall’s managing director, Bill Parfitt, was said to be asking today for £600m. GM has officially denied that it is seeking anything from the UK government, despite the UK being the fourth largest market for GM globally.

With 23,000 advanced orders for the new Insignia, things might be looking up for Vauxhall/Opel! +++

Edited by News_Stig
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