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Dealers Looking To Buy Minority Stakes In Opel And Vauxhall Photo:
 
 
Mike Stevens | Mar, 13 2009 | 1 Comment

As part of a combined effort to keep GM Europe's Opel and Vauxhall brands alive, dealers for the two companies are putting together a bid to buy a minority stake in the ailing carmakers.

A group called Euroda, which represents 4000 Vauxhall and Opel dealers in 25 countries, is behind the plan. The dealers will have to raise in the order of ?400 million (AUD$789m) for a successful bid however, which, with credit markets still in lock-down, won't be easy.

The plan has yet to be approved by the group?s member dealers, and with each dealer required to commit ?150 (AUD$295) of every vehicle sold in the next three years, the vote ? scheduled for May 15 ? may be a tight one.

Above: European Car of the Year, the Opel Insignia

A minority stake wouldn?t give Euroda enough leverage to take control of the carmakers, but the dealers concerned are hopeful that the investment would demonstrate to the European governments ? some of them hesitant to help GM Europe?s subsidiaries at all ? the strength of the support for the two marques.

 
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