They say, where there’s smoke, there’s fire, and true enough in the case of GM’s relationship with its European subsidiary Opel, there seems to be a lot of smoke piling up lately. Just yesterday, press reports from Auto Bild and Spiegel Online said that GM is looking for a buyer, but the news was quickly dismissed by spokespeople from both Opel and the government of Germany's state of Thuringia, home to one of the brand’s factories.
Today, Reuters came out with a new report saying the Detroit automaker is “frustrated” with its money-losing Opel brand and is “considering options for a turnaround”, noting, however, that a sale of the Opel brand is highly unlikely.
"Akerson is fed up with Opel, and the turnaround isn't gaining traction," a unnamed source who is close to the GM CEO told Reuters. "He is trying to think of all possibilities to improve performance. But a sale is wishful thinking,” the source added.
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