Because of that, the Canada-based group has entirely dropped any other proposects in that direction.

“We’re not looking at any other transactions in that space,” said Don Walker, Magna CEO.

GM has decided that it will retain its European brand after seeing some improvement in its business despite having to declare bankruptcy just a few months back.

The whole Opel takeover has been on the table for the good part of the past months. Magna saw its shares jump by 10% following the deal’s collapse.

Source: Autocar

Fiat is one of the first who actually put up a bid for Opel. Magna International also put up an offer. A deal with Magna was viewed to be most likely until conflicting reports came out that the deal might not push through.

Fiat re-iterated its bid but CEO Sergio Marchionne confirmed that its existing bid is the best it can offer at the moment. “I don’t believe we could improve Fiat’s offer. It’s the most rational one we can put forward from an industrial viewpoint,” Marchionne said told reporters.

Marchionne’s statement is just a reminder that they are still open to talks. Fiat has acquired 20% of another US automaker in Chrysler. Part of its aims is to expand a foothold in the US market.

Fiat never made it past to a second round of talks with General Motors. GM and Magna seemed to have hit it off even striking a preliminary deal. Insiders are now saying that an Opel-Magna deal is on shaky ground right now.

Source: Reuters

While no details on the cabrio’s powertrain specs have been released, sources say that options include a 2.0-liter turbocharged petrol engine good for 270 horsepower. This would give the cabrio a top speed in excess of 150 mph and a 0-60mph time of under 6 seconds. Diesel options should include a 1.4-liter turbo good for 150 horsepower and another 2.0-liter CDTI engine that goes for 170 horsepower.

This Astra variant could feature just 2 seats, and it should have other premium features such as a folding metal hard-top, xenon headlights, chrome exhausts, and a new body kit.

The Opel Astra cabriolet is expected to compete with similar roadsters from Mini and Volkswagen. The new Opel Astra isn’t even launched globally, and the wagon and coupe variants should be released after that. This means the cabriolet could still take quite a bit of time before its debut.

Magna is one of the largest suppliers of a variety of auto parts, and its clientele includes such car manufacturers as Volkswagen. Those companies have expressed concern that the auto parts giant’s acquisition of Opel / Vauxhall could potentially create conflicts of interest.

“We do understand Magna is an auto parts company and Opel is a car company,” remarks Magna Co-Chief Executive Officer Donald Walker. “So, if we complete this then we have to have a complete firewall between the two business units and that is under discussion right now.” Walker added that all the necessary measures will be made in order to prevent conflicts of interest.

I don’t think anybody wants to lose clients, especially in the current economic conditions. We’ll see how effective Magna’s “complete firewall” really is—that is, once the Opel-Magna sale finally pushes through.

“Whoever comes out as the successful bidder will cut costs and consolidate,” said Mandelson. “We have to ensure that productive plants, where the greatest percentage of sales takes place and which include UK Vauxhall plants, have a secure future. That is what I am working for.”

The biggest point concerning the Opel takeover is that it may lead to massive job cuts for such plants as Vauxhall in the UK. Factories in other countries such as Germany and Italy are protected by the government, so the new Opel owners might turn to the UK for cuts.

Additionally, Mandelson stressed that the criticisms of UK scrappage scheme are unfounded. Many claim that the scheme only helps manufacturers from overseas because of the sheer amount of cars sold in the UK are made from outside it. Mandelson says this is not the case, saying that British-made components are used in the UK scrappage scheme, as well as other similar schemes in other European countries.

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“It is a very special honor to receive this endorsement from an international jury of non-automotive designers,” said Mark Adams, GM Europe Vice President of Design. “It confirms that Opel is on the right track of offering bold, dynamic style.”

True enough, the Insignia’s sleek and chiseled form won the day, despite stiff competition that made the job of the Red Dot jury “exceptionally difficult this year.” Opel had won Red Dot awards for previous models, namely the GT, Astra GTC, and the 1998 Astra G.

The Opel Insignia adds the Red Dot trophy to the European Car of the Year, awarded by Euro motoring press after a close voting where the Insignia edged out the Ford Fiesta by a single vote. With this design award, the Insignia proves once again that it is a car worthy of its name, symbolizing the very core of what Opel aims for.

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German minister Karl-Theodor zu Guttenberg and UK business secretary Lord Mandelson spoke at a press conference held in Berlin, where the announcement to reopen the bidding for Opel/Vauxhall was made. Guttenberg futher commented that talks with an unidentified Chinese investor were in progress.

“It is impossible to predict conclusively if the memorandum of understanding that we have now will translate into final agreement,” said Mandelson. “We hope it will. But, we also have to keep our mind open to alternatives if that memorandum of understanding does not convert into a final agreement. We are agreed on that.”

Whether Opel is seriously considering talks with other potential bidders is unclear. Some believe that this is a way to pressure Magna into giving terms of the deal that will result in less job cuts and less factory closuredownload american splendor free

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“The Ampera will be well-suited to the daily driving schedule of most European customers,” says GM Europe. “For example, approximately 80 percent of German drivers travel less than 50km daily.”

The Ampera distinguishes itself from the Volt with a more aggressive-looking nose, a mix of curves and edges, and some boomerang-shaped styling leading off from the wide headlights.

The Volt won’t hit US dealerships until 2011, so expect the Opel Ampera to be released much later. At the moment, there are is definite timetable for the release of the Ampera to the UK market. The Ampera will officially be presented to the public at the car’s Geneva Auto Show debut. The company bills the Ampera as the brand’s “revolutionary extended-range electric car.” GM’s Australian affiliate, Holden, is also set to release its own rebadged Volt, albeit not renamed as of the last statement.

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The Opel Insignia OPC Sport Tourer sports a 2.8-liter turbocharged V6 engine, which goes for 325 horsepower. The car’s 0-60 time is 5.8 ticks, with an electronically-controlled 155mph top speed.

As with the sedan and hatch OPCs, the new variant also gets standard 19-inchers with optional lightweight 20-inchers, all-wheel drive, and the definitive HiPerStrut, or High-Performance Strut, suspension that is also lowered by 10mm. The HiPerStrut system offers reduced torque steer and maintained negative camber during cornering.

The performance and specs aren’t really that different from the sedan and hatch variants. With the Sport Tourer, however, buyers get a whole lot more cargo space inherent to being a wagon. The Opel Insignia OPC Sport Tourer is slated to start sales in the second half of 2009.download three days of the condor dvdripover the hedge free

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The GTC conversion kit is applicable to the entire Opel Astra petrol range, which should allow the kit to see decent sales figures. The LPG-converted Astra GTC Turbo itself will be released in Europe shortly after it debuts at the Geneva Show. Its power is pegged at 180 horsepower for the LPG-fueled 1.6-liter Turbo.

The GTC package starts with the S1 level, which features a new radiator grille and spoilers for the front and the roof. The next level, S2, adds side sills, while the final level, S3, features an entirely-new body kit with 18-inch alloy wheels. All-leather interiors, an aluminum-finished handbrake, pedals of drilled aluminum, and the tuner’s custom floor mats are all optional.

Source: Motor Authority