GM's Opel Loses Money in '07, Blames CO2 Regs

gms opel loses money in 07 blames co2 regs

Speaking to Autmobilewoche (via just-auto), Opel CEO Hans Demant's let slip that GM's German division will not book a profit for '07. Although an Opel spinmeister later retracted the revelation on Demant's behalf, the facts speak for themselves. According to the Kraftfahrt Bundesamt government vehicle agency, Opel's domestic sales sank 14.7 percent last year. (The overall German car market fell nine percent; its lowest level since reunification.) In fact, the future's so dim, Demant's pulled the shades. He says the entire German market is no longer profitable, either for the automaker or for its dealers. Proving that RenCen doesn't have a lock on the old finger-pointing to avoid accountability routine, Demant said the "endless discussion" about a new CO2-related tax system, and the introduction of eco-zones in big cities, had led to customers going on strike. Uh-oh. Does this mean war?

Comments
Join the conversation
 2 comments
Next