GM has announced its Q2 earnings [Analyst slides in PDF here], and the firm has recorded a healthy $2.5b profit for the quarter on strong North American performance and an end to losses from the European Opel division. In fact, on an EBIT (earnings before interest and taxes) basis, all of GM’s global divisions were in the black last quarter, although GM Europe and GM South America both recorded modest $100m gains and GMIO (which includes the lucrative Chinese market) recorded a $600m EBIT. The powerhouse continues to be GM North America, which recorded $2.2b in EBIT, continuing North America’s post-bailout importance as the driver of GM’s financial results. Globally, a $600m reduction in EBIT due to costs and “other” was offset by the same amount of gains in volume/mix, while pricing added a billion dollars to overall EBIT. And though fleet sales were up in North America, incentives for the quarter appear to have hit record lows. [Hit the jump for global deliveries and market share/fleet data, via GM’s financial highlights release].

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According to Germany’s usually well informed AUTO BILD, Korea’s Hyundai either did or still does cast longing eyes on struggling Opel. Opel is on Hyundai’s horizon, literally: Hyundai’s German tech center in Rüsselsheim is only a few miles away from Opel. “Hyundai is growing faster than any other automaker. They are desperately seeking new engineers at the Hyundai tech center,” writes AUTO BILD, “and the plant in Czech Nošovice cannot be expanded further. Opel with thousands of well trained engineers, precious EV know-how (Ampera) and underutilized plants would be a great fit.” And this is how the latest car-cliffhanger started … (Read More…)

Better late than never: After refusing for months to comment on rumors that Opel might be up for sale, and after having been lambasted from his own workers up to Germany’s government, GM CEO Dan Akerson said the magic words: “We don’t comment on speculation — and there has been a lot of speculation — but I will say this: Opel is not for sale.”

Akerson made the remarks at a GM plant while celebrating the official launch of labor talks with the UAW, Reuters reports. (Read More…)

I spotted this Opel Vivaro CDTI on the University of Illinois campus.

How did this apparently-European vehicle end up in Illinois?  Opel’s website suggests that they don’t do business in Canada, but this Vivaro has Quebec license plates, and a stuffed animal in the window that suggests it is a personal vehicle.

Does anyone have any idea how such a vehicle could end up legally touring the American Midwest with Canadian plates?  What say you, readers of TTAC?

Good morning! Two years after GM reneged on the Opel sale to Magna and Sperbank, the Times of London has the big scoop. GM cancelled the sale of Opel because the buyers wanted the right to sell its factories to a Russian state-owned car maker, says the Times, citing U.S. diplomatic cables revealed in Wikileaks. Really? You don’t say! We are shocked! (Read More…)

With Opel planning to pull itself into the black within the year, the brand’s thoughts are turning from survival to “luxuries” like a flagship model planned for around 20k units starting in the 2016-2017 timeframe. Codenamed “TOL” for “Top Of Line,” the sedan will be designed to highlight one of GM’s many alt-drivetrain technologies, but according to Automotive News [sub], nobody yet seems sure which. Opel labor rep and recent champion of the brand’s forthcoming products Klaus Franz explains:

Already with the our Ampera electric vehicle, we have shown what we are able to do and enjoy an advantage of two to three years compared to the competition

But with the TOL is planned for 2016, Opel may have to dig deep to jump out ahead of the market, which is why a fuel cell-powered electric drivetrain is being considered (also, after decades of FCV research, GM has to build a production model someday). And if the eventual product has a truly ahead-of-its-time drivetrain, and looks as good as last year’s Flextreme Concept (above), this flagship could be an exclamation point on Opel’s turnaround. Unfortunately, neither of these things are a given…

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Automotive News Europe [sub] must have been bar-hopping with German auto execs. On the same day it unearthed secret anti-X6 plans by Daimler, ANE also heard that Opel will lauch “a new flagship model” by the end of 2016 or early 2017. Not only will it be a “big Opel”, the car “may come to market with alternative powertrains such as a fuel cell system to help boost Opel’s green image.” (Someone needs to tell Opel that in Europe, one does not need to be ashamed of big cars, just like Silverados are o.k. stateside.) (Read More…)

No good deed goes unpunished. While the leadership of GM refuses to comment on Opel, Volkswagen’s Winterkorn filled the void and dispensed some helpful advice.  He said that only the Chinese would be interested in Opel, and even that remains a very theoretical possibility. GM did not like that advice and fired back.

GM top echelons refused to break cover. Instead, there is a big pronouncement on GM’s website.

“General Motors has a longstanding policy of not commenting on rumors and speculation.  Unfortunately, some of our competitors do not show similar restraint. (Read More…)

Opel is casting a wary eye at parent GM. GM unleashed Chevrolet in Europe. Nobody took it seriously until Chevrolet announced today that the bowtie brand sold 23 percent more Chevys in Opel’s home market Germany than in the first half of 2010. In the first 6 months of 2011, Chevrolet sold15,077 units in Germany. (Read More…)

End of the year, Europeans can delight in the Made in America Opel Ampera, which is a rebadged and slightly reskinned (see picture) Volt. But don’t rush to your friendly Opel dealer to put in your pre-order: The Ampera is already sold out. (Read More…)

For a while now we’ve figured that the long-rumored Buick “Baby Enclave” would be a rebadged version of Opel’s Meriva MPV, as the suicide-doored Euro-confection is currently GM’s newest Gamma-platform people-carrier. But according to GMInsideNews’s 2013 lineup forecast, the Buick “Encore” will actually be a

Gamma based crossover will be a five-seater, about the size of the Nissan Rogue.

Because the Meriva is considerably smaller than the Rogue, and because it is rumored to have distinctly Enclave-like styling, we’re starting to rule out the Meriva as the next Buick CUV. Instead, we now think that this forthcoming Opel Corsa-based (Gamma II platform) “SUV” will be the basis for the Encore, as it’s larger than the Meriva and offers the higher seating that American drivers crave. But, based on this video of the new CUV testing in Germany, the new Buick should still be fairly playful for a front-drive crossover. These are not perfect drifts by any stretch, but I challenge any of you to do better in a front-drive Buick…

Talk about bad associations! Bloomberg reports that

General Motors Co.’s European Opel unit is introducing models with advanced options typically sold on luxury cars, seeking to revive a business that’s lost $14.5 billion since 1999.

The GM unit is working with AlixPartners LLP on how to tweak options packages or production plans to spur higher prices, said two people familiar with the matter. They are also studying ways to reduce engineering and manufacturing costs, said the people, who asked not to be identified disclosing private plans. Some new features include headlights tuned to high-speed driving on the Autobahn.

Which leads to one damning conclusion:

“They can’t price their cars like Audi or BMW,” said Thomas Stallkamp, principal of Collaborative Management LLC, a Naples, Florida-based consulting firm. Stallkamp, a former Chrysler Corp. president, was a partner at private-equity firm Ripplewood Holdings Inc. when it tried to buy Opel in 2009. “They’re like the Chrysler of Europe.”

Keep in mind, this isn’t just any old analyst… this is a guy who tried to buy Opel back when it was officially for sale. And though pricing issues in the face of rising costs are one Chrysler-like problem facing Opel, there’s another issue that may even be more troubling…

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Someone is really trying to shop around Opel. Or maybe it’s just a tactic to cow German unions into submission?  Two weeks ago, Volkswagen and the inevitable Chinese were floated as possible buyers. What other bogeymen could there be? Ah, yes, the Koreans! (Read More…)

According to Auto Motor und Sport, this Opel “Junior” city car (A-Segment) could be sold in the US if Opel isn’t sold first and if union boss Klaus Franz gets his way. Though GM has ruled out selling the Opel brand in the US, Franz tells AM und S that

I can see strong demand for this car in the cities of the East and West coasts.

But if the Opel brand is off the table, what will this car be sold as? There’s been no rumor yet of a Buick-branded microcar, but Cadillac did recently show an A-Segment concept, called the ULC, that could tip the strategy for this car’s US-market design and branding. It’s just too bad TTAC’s Best and Brightest answered the question “Does Cadillac Need A MINI-Fighter?” with a resounding “NO”. But would a ULC-style micro-Caddy be any less appealing than a baby Buick? This car will be a tough sell coming from any of GM’s remaining brands, but with CAFE increases in the cards (and as prices rising anyway) this may an unavoidable conundrum.

Workers, government, the press, all want a clear statement from GM: Is Opel up for sale, or not?

No clear statement is forthcoming, and frustration runs high. There never had been an official denial of the possible spin-off. The stress is so enormous that an alleged telephone call in which GM’s Dan Akerson supposedly told Opel’s Karl-Friedrich Stracke that purportedly GM is not in talks with a buyer for Opel, makes headlines around the world. Is that for real? (Read More…)