Opel

General Motors Co. Vice Chairman Steve Girsky says the company will not sell Opel, its struggling European brand. Girsky said after a speech in Detroit on Tuesday that GM will keep Opel and is developing plans to fix it. Earlier Tuesday Fiat and Chrysler CEO Sergio Marchionne (MAR-key-oh-nee) told reporters that he wouldn't close the door on potential partners when asked if he's interested in Opel. But Girsky says he spoke to Marchionne on Sunday and the topic of selling Opel was not mentioned.

The head of General Motor's Opel unit has laid out a plan to fix the money-losing European subsidiary. Adam Opel AG CEO Karl-Friedrich Stracke told employees Monday the company will push for new export markets in Australia, North Africa, South American and the Middle East and boost its presence in China, Russia and Turkey. It's also looking at moving some Chevrolet production to Germany to make better use of plant capacity — a key issue for the struggling mass-market carmaker.

General Motors says that the head of its German-based Opel subsidiary will take over as head of GM Europe in January. Karl-Friedrich Stracke will replace Nick Reilly, who is retiring after 37 years with GM in Asia, Europe and Latin America, the company said in a statement Monday. Stracke, 55, took over the helm at Opel in March. He will remain head of the Opel and Vauxhall brands. THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

A group of German state governors is urging General Motors Co. to open up global markets for its struggling European brand, Opel, amid ongoing unease about cost-cutting plans. GM Europe lost $700 million in 2011 and company officials have expressed their determination to turn around the Opel and Vauxhall brands. They have rejected speculation that the company may decide in the near term on plant closures, but worries have persisted. The governors of the four German states where Opel has plants issued a joint statement Friday that said they "stand together behind the German Opel...

RUESSELSHEIM, Germany - Fearing layoffs, thousands of Opel workers walked off the job yesterday to protest General Motors Co.’s decision to abandon the unit’s sale. Their indignation was echoed by German and Russian politicians, who had supported selling a majority stake in Opel to the Canadian auto parts maker Magna International Inc. and the Russian lender Sberbank. Russian Prime Minister Vladimir Putin said GM exhibited an “arrogant attitude’’ in abandoning months of negotiations and complained that “GM didn’t discuss anything with anyone.’’ German Foreign Minister Guido...

FRANKFURT - General Motors Co.’s top European official said yesterday that a plan for Opel to be unveiled next month will include a schedule to launch new models and a financial break-even target. Nick Reilly’s comments in an official GM blog came as the US automaker finalized its restructuring plan for Opel and British sister brand Vauxhall, a program it has said will result in about 9,000 job cuts across the continent. “We have developed a sustainable plan for the future, including a break-even target, which we expect to unveil in the middle of December,’’ Reilly wrote.

The head of General Motor's Opel unit has laid out a plan to fix the money-losing European subsidiary. Adam Opel AG CEO Karl-Friedrich Stracke told employees Monday the company will push for new export markets in Australia, North Africa, South American and the Middle East and boost its presence in China, Russia and Turkey. It's also looking at moving some Chevrolet production to Germany to make better use of plant capacity — a key issue for the struggling mass-market carmaker.

ROME - Fiat Group SpA confirmed yesterday that it is in talks to buy General Motors' European operations in a move that, combined with its planned takeover of Chrysler LLC, would form one of the biggest car and truck makers. The new company would have $105 billion in annual revenue, Fiat said. Fiat is evaluating the possible spinoff of its auto business to form the core of a new company. Fiat Group Automobiles includes the Fiat, Alfa Romeo, and Ferrari brands. The statement was issued on the eve of a meeting between Fiat Group's chief executive, Sergio Marchionne, and Germany's economy and foreign...

Unions have warned General Motors that they won't engage in restructuring talks on the auto group's Opel and Vauxhall plants in Europe on a local level. GM is reviewing how to fix its lossmaking European business. Union contracts rule out any plant closures up until 2014, and the company has said it intends to abide by that. Union leaders issued a one-sentence open letter to Opel chief executive Karl-Friedrich Stracke saying "we will not negotiate with you on local level.

PARIS - General Motors is in talks about a possible tie-up with the French automaker PSA Peugeot Citroen, a French official said. An alliance would be a surprising twist; GM has been struggling to turn around its faltering European operations for years. Peugeot's chief executive, Philippe Varin, "informed me last night of these discussions for a strategic partnership, and told me it was good news for the company," Labor Minister Xavier Bertrand told Europe 1 radio. It appeared any deal would focus on joint development and production of some parts or models.

General Motor's struggling Adam Opel AG subsidiary in Europe has recruited a Volkswagen executive to take over its top marketing and sales job. Ruesselsheim-based Opel said Alfred Rieck, 55, will replace Alain Visser, marketing chief since 2004, who is leaving the company. Rieck's last job with VW was as vice president of Volkswagen Group China, where he was responsible for VW's Skoda brand. Detroit-based General Motors lost $700 million in Europe last year and has indicated it is determined to turn the business around.

Unions have warned General Motors that they won't engage in restructuring talks on the auto group's Opel and Vauxhall plants in Europe on a local level. GM is reviewing how to fix its lossmaking European business. Union contracts rule out any plant closures up until 2014, and the company has said it intends to abide by that. Union leaders issued a one-sentence open letter to Opel chief executive Karl-Friedrich Stracke saying "we will not negotiate with you on local level.

PARIS - General Motors is in talks about a possible tie-up with the French automaker PSA Peugeot Citroen, a French official said. An alliance would be a surprising twist; GM has been struggling to turn around its faltering European operations for years. Peugeot's chief executive, Philippe Varin, "informed me last night of these discussions for a strategic partnership, and told me it was good news for the company," Labor Minister Xavier Bertrand told Europe 1 radio. It appeared any deal would focus on joint development and production of some parts or models.

General Motors Co. Vice Chairman Steve Girsky says the company will not sell Opel, its struggling European brand. Girsky said after a speech in Detroit on Tuesday that GM will keep Opel and is developing plans to fix it. Earlier Tuesday Fiat and Chrysler CEO Sergio Marchionne (MAR-key-oh-nee) told reporters that he wouldn't close the door on potential partners when asked if he's interested in Opel. But Girsky says he spoke to Marchionne on Sunday and the topic of selling Opel was not mentioned.

General Motors says that the head of its German-based Opel subsidiary will take over as head of GM Europe in January. Karl-Friedrich Stracke will replace Nick Reilly, who is retiring after 37 years with GM in Asia, Europe and Latin America, the company said in a statement Monday. Stracke, 55, took over the helm at Opel in March. He will remain head of the Opel and Vauxhall brands. THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

MOSCOW - Russian lender Sberbank demanded compensation from US automaker General Motors Co. for the failed deal to buy Opel, threatening to sue GM otherwise. Sberbank’s chief executive German Gref said in televised remarks yesterday that GM should pay “voluntary’’ compensation for its decision in early November to scrap the selling of a 55 percent stake in the struggling Opel to Sberbank and Canada’s Magna International Inc. “We think that GM’s commitment went so far that they should have sealed the deal,’’ Gref said, adding that if GM does not agree to reimburse...

RUESSELSHEIM, Germany - An Opel plant in Belgium faces an uncertain future as General Motors moves to restructure its European operations, a drive expected to cost some 9,000 jobs across the continent, a top executive said yesterday. Nick Reilly, the head of GM Europe, detailed GM’s plans to employee representatives from Opel and sister brand Vauxhall. He stressed that action is needed because “the competition in this industry is intense and getting fiercer every day.’’ “Overall, we are going to reduce our capacity by around 20 percent, and we expect to reduce the number of people by...

MOSCOW - Russian lender Sberbank demanded compensation from US automaker General Motors Co. for the failed deal to buy Opel, threatening to sue GM otherwise. Sberbank’s chief executive German Gref said in televised remarks yesterday that GM should pay “voluntary’’ compensation for its decision in early November to scrap the selling of a 55 percent stake in the struggling Opel to Sberbank and Canada’s Magna International Inc. “We think that GM’s commitment went so far that they should have sealed the deal,’’ Gref said, adding that if GM does not agree...

FRANKFURT - General Motors Co.’s top European official said yesterday that a plan for Opel to be unveiled next month will include a schedule to launch new models and a financial break-even target. Nick Reilly’s comments in an official GM blog came as the US automaker finalized its restructuring plan for Opel and British sister brand Vauxhall, a program it has said will result in about 9,000 job cuts across the continent. “We have developed a sustainable plan for the future, including a break-even target, which we expect to unveil in the middle of December,’’ Reilly wrote.

RUESSELSHEIM, Germany - An Opel plant in Belgium faces an uncertain future as General Motors moves to restructure its European operations, a drive expected to cost some 9,000 jobs across the continent, a top executive said yesterday. Nick Reilly, the head of GM Europe, detailed GM’s plans to employee representatives from Opel and sister brand Vauxhall. He stressed that action is needed because “the competition in this industry is intense and getting fiercer every day.’’ “Overall, we are going to reduce our capacity by around 20 percent, and we expect to...