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VW boss fans GM sale rumours?

2011-07-15 10:00

NAUGHTY, NAUGHTY: VW's boss has reopened the discussion surrounding Opel's future.

Volkswagen AG’s Martin Winterkorn is accused by General Motors of encouraging speculation that its German brand, Opel, is back on sale.

Bloomberg reports that Winterkorn told the Frankfurter Allgemeine Zeitung at a press event held in Berlin, Germany that, should Opel be put back on sale, a Chinese automaker would be most likely to buy the marque.

GM responded by saying the comment by the VWAG CEO "continues a regrettable pattern of fanning speculation” over the previously-troubled German brand’s future.

PROFIT SOON


Recent reports that GM may again be considering the sale of Opel have been dismissed by the company as speculation. The company said it was restructuring its business; a strategy that in the initial phases has been showing progress, Opel said.

The automaker has reportedly lost $14.5 billion in Europe since 1999, but expects to start turning a profit in 2012.
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