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Russia could about to get a slice of carmaker Opel if the German government approves a bid from the Canadian Magna corporation.

Improving US car market reason behind GM not selling Opel

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Published: 04 November, 2009, 18:30
Edited: 08 November, 2009, 19:50

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TAGS: Manufacturing, Russia, Europe, Vehicles, USA, Big deal, Economy


General Motors has withdrawn the sale of Opel to the consortium of Canada’s Magna and Russia’s Sberbank. Some experts believe the improving situation at the US car market was one of the reasons for the decision.

Though the withdrawal of the sale came completely out of the blue, some reasons can be tracked.

“The ‘Cash for Clunkers’ scheme seems to have had a significant effect on car sales,” said Patrick Fullick, founder and President of London’s Science Connections company.

He also noted that they have been getting better in the UK and Europe in general, too: “We’ve seen a significant uptake this summer in the number of car sales.”

“The GM decision has something to do with this, but it’s difficult to say at this moment whether there’s anything strategic in it,” Fullick added.

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