In light of the need for an additional EUR300m in financing that has just been estimated for Opel, the European association of around 4,000 dealers, Euroda, has renewed its offer for dealer shareholding in a future Opel/Vauxhall corporation.
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“As mid-sized dealers, we’re ready to play our part in saving Opel. That is why we’re once again calling upon the federal government to take our offer of EUR500m seriously. This is a historic chance for the automotive industry to let dealers and manufacturers work together to take entrepreneurial responsibility in shaping the future of Opel,” said Euroda president Jaap Timmer.
On 15 May, at their spring conference in Vienna, the dealers had issued a mandate to their association to make a competitive offer to the German government and General Motors. The concept provides for association members from 25 European countries to pay EUR150 per vehicle sold into an investment fund for a new Opel/Vauxhall company over three years. The association has assumed the investment would reach up to EUR500m.
