« Federal Bankruptcy Law Trumps Consumer Law For Some Unhappy GM & Chrysler Owners | Main | Excessive Number Of American Car Dealerships Compared To Market Share Heart Of Dealership Problem »

Russian Owned Oligarchy Purchases Opel From GM

A Canadian-Austrian parts manufacturer Magna, which is actually largely funded by a large Russian financial oligarchy and by a major Russian bank has become the new owner of GM's German Opel company in Europe, giving Russian overseas investments further major diversification of products and a stronger economic position once the global recession eases. The German is also expect to put about 2.1 billion dollars into Opel as well as financial backing.

In Britain, 5,000 workers at GM's Vauxhall fear unemployment as many fear that British jobs could disappear if the production of vans or other production is brought to Russia. vauxhall03.jpg

Because of the relative economic strength of some major Russian and Chinese corporations and banks compared to the health of some major American industry groups such as GM, some American corporations are finding themselves prime targets for buyouts. Vauxhall_Astra_VXR-L.jpg

One thing is for certain here though. Russian cars never looked so good.


Note: Wizbang Blue is now closed and our authors have moved on. Paul Hooson can now be found at Wizbang Pop!. Please come see him there!

  • Currently 4/5
  • 1
  • 2
  • 3
  • 4
  • 5
Rating: 4/5 (1 votes cast)


Comments (5)

JLawson:

Well, so long as Russia doesn't buy out Lucas along with Opel, their cars should work pretty well. I REALLY dislike Lucas generators and oil pumps, due to owning an MG for 10k miles...

Two generators and an oil pump later, I was ready to sign the title and leave it abandoned on the side of the road. I understood why the previous owner sold it cheap, and was grinning as I drove it off. Lucas is INDEED the Prince of Darkness!

http://www.mez.co.uk/lucas.html

Here's hoping Russia doesn't restyle the Opels as Trabants and Ladas...

Paul Hooson:

Hello, JLawson. That "prince of darkness" comment was a great expression. I think that I can pretty well gather that you're not a huge fan of Lucus products.

The good looking cars above are the Vauxhall cars that Magna apparently now also controls. I don't think either would look particularly good in Lada trim.

Those MGs are great little cars, but like all classic British cars a little bit particular as as well as pricey for parts. But great to collect. It was once said that those V8 AMC Gremlins that I loved are amazingly similar to those Austin Healey sports cars in handling and weight characteristics. Those cars often reminded me of high power cast iron stoves for some reason to pilot around.

JLawson:

No, Lucas isn't a favorite of mine... LOl. How'd you guess?

I've heard that MGs (indeed pretty much any British 'roadster', especially with Lucas electrics) belong to a class of car that's designed for the 'automotive enthusiast' - the sort of guy who doesn't mind spending 3-4 hours maintaining his car for every hour driving it.

From my experiences, I see no reason to doubt that! It was a fun ride, but a friggin' money pit.

Tim:

If GM could have brought some of those models here and Opel-ized GM, instead of the other way around, things might be a lot different. They decided to try it with Saturn, but it was too little, too late.

http://tinyurl.com/omxhqj

GarandFan:

How is that "Hope and Change" thing working out this morning. Unemployment up to 9.4% and rising. And here poor Barry about broke his neck in speeding that "Stimulus" package into law. Interesting graph.............

http://michaelscomments.wordpress.com/2009/06/05/the-may-unemployment-numbers-are-here-and-worse-than-predicted/


Contact

Send e-mail tips to us:

[email protected]

Advertisments

Categories

Archives

Technorati



Add to Technorati Favorites

Credits

Publisher: Kevin Aylward

Editors: Lee Ward, Larkin, Paul S Hooson, and Steve Crickmore

All original content copyright © 2007 by Wizbang®, LLC. All rights reserved. Wizbang® is a registered service mark. Wizbang Blue™ is a trademark of Wizbang®, LLC.

Powered by Movable Type 3.35

Hosting by ServInt

Ratings on this site are powered by the Ajax Ratings Pro plugin for Movable Type.

Search on this site is powered by the FastSearch plugin for Movable Type.

Blogrolls on this site are powered by the MT-Blogroll.

Temporary site design is based on Cutline and Cutline for MT. Graphics by Apothegm Designs.