German Opel Dealers Like Opel So Much, They Want To Buy It
Important visitors today in Angela Merkel’s chancellery in Berlin: A delegation of German Opel dealers. They present a plan for a truly German future of Opel. The title of the plan: “We believe in the future of the Opel brand.” What the dealers and the German government don’t quite believe in is the future of the US bail-out package. Everybody is preparing for the worst, the defeat of the General, and (in their eyes) the best: Opel, German again.
The delegation is led by representatives of several well-heeled dealer groups. As early as November, plans had surfaced that a consortium of dealers is ready to take over Opel if the previously unsinkable should go down. The Opel works council has openly supported the plan. Opel management is giving tacit approval, without sticking their necks too far out. Recriminations from Zurich or Detroit can be swift. There is an update:
They finished their presentation. The parties agreed on absolute confidentiality, so mum’s the word. There will be further consultations, soon, after all in the meeting have completed their homework. The plan is to launch a new European company in case of “insolvency or liquidation of GM.” The idea is not a German solution, but a European one. They are not thinking about “re-nationalizing Opel.” The plans are European, and involve other brands also. “Everything we are thinking and doing is European,” said Kurt Kröger, Managing Director of Opel dealer Dello to Autohaus.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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Saturn is selling the Astra in America... and losing money on each sale. But aside from that, is anyone wondering why America's GM dealerships aren't trying to buy GM... like the German Opel dealers are trying to do with Opel? It looks like GM dealerships have no faith in their product.
@ gogogodzilla: The reason why the dealers wouldn't buy GM is because GM is dead. Seriously, their total equity was at $-60 billion at the end of the third quarter 2008. So if they'd buy anything, it's individual brands. But to buy the mothership would be suicide.
@psarhjinian : What does Opel loose? The Antara, billions of dollars in liability, some excess Astras that they can’t sell and two European competitors. Don't forget the Agila (Suzuki Splash clone, brought in through the GM-Suzuki partnership) and the Opel GT (Saturn Sky) - both could be replaced easily: Opel already has a Renault/Nissan connection for commercial vehicles, so they could get a competent RWD platform for a homegrown GT there. Opel's own RWD platform competence has been exported to Australia though - the Holdens are built on an evolution of the old Omega platform.