Opel Vauxhall Dealers Want to Step In

The dealers of GM's struggling brands Opel and Vauxhall are considering stepping in and try save the dramatic situation the companies find themselves in. They plan to raise some 400 million euros to buy a minority stake in the two manufacturers, Autonews reported.

Euroda, the entity that represents 4,000 Opel and Vauxhall dealers from 25 European countries, wants to set in place a fund in order to take a more active role in the companies it represents.

The fund's provisions state that each dealer would pay into the fund 150 euros from the profits they make after selling each car. The dealers will do so for the next three years in return for a stake in a new Opel Vauxhall company.

Limitations of the fund are obvious and Euroda is well aware that their efforts can only do so much. The reason behind the decision is supposed to act as an impulse for the European governments to step in and for customers to stand by the customers during these hard times.

The fund will be voted upon on May 15, when the next Euroda meeting is held. The votes are expected to be favorable, as "Opel and Vauxhall dealers have 125,000 employees and they are responsible entrepreneurs who want to preserve these jobs as well as their investments," according to Jaap Timmer, Euroda chairman.

Meanwhile, the noose is getting tighter around GM Europe's business. The "give-us"-"not yet" game is still on, as European governments need further reassurement from GM if they are to unlock aid packages for the companies.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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