the republic logo

GM's Opel unit to pull out of Chinese market, invest $337 million in main plant in Germany

Share/Save/Bookmark

BERLIN — General Motors Co.'s Opel unit will end its small presence in the Chinese market — a decision its chief executive describes as long-overdue.

GM's struggling European subsidiary said Friday its sales in China will end next January. The company says 22 Opel dealers in China last year sold 4,365 vehicles — a tiny fraction of the 810,000 sold by GM's Buick brand.

Opel CEO Karl-Thomas Neumann says "it would have cost hundreds of millions of euros to raise awareness of the Opel brand and to expand the distribution network."

Opel also plans to invest 245 million euros ($337 million) in its main German plant, Ruesselsheim. It plans to build an additional Opel model there as well as a future model to be sold as a Buick in the U.S.

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear.
View our commenting guidelines and FAQ's here.

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.