New Car :) (4 Viewers)
- Thread starter Amr
- Start date
taken of reuters.com
"FRANKFURT, Oct 13 (Reuters) - General Motors (GM.N: Quote, Profile, Research) will cut around 10,000 jobs in Europe in a drive to save some 500 million euros ($613.4 million) a year and return its loss-making operations there to profit, a company source said on Wednesday.
"You would not be putting your head in a noose if you used that number," the source said.
An announcement would come on Thursday, he said, but there would be no details on the impact on individual plants.
GM, which last made a profit in Europe in 1999, employed around 63,000 people at 11 production and assembly plants in the region at the end of 2003.
A report in the Westdeutsche Allgemeine Zeitung newspaper said that included in the cuts will be 3,500 jobs at GM's Opel plant in the northwestern German city of Bochum, citing negotiators.
Bochum, which opened in 1962, makes Astra cars and Zafira vans.
German Economics Minister Wolfgang Clement is scheduled to meet Opel officials at the plant on Thursday, a spokeswoman for the North Rhine-Westphalia state government said.
GM Europe's losses widened in the second quarter to $45 million from $3 million a year ago amid intense pricing pressure, adverse currency movements and restructuring costs for a joint venture with Italy's Fiat (FIA.MI: Quote, Profile, Research) .
That brought its first-half loss to $161 million, up from $68 million in the same period last year and it has abandoned its original target of making a profit in Europe this year.
Its third-quarter results are due on Thursday.
GM has already reduced capacity in Europe by 28 percent from 1999 levels but has acknowledged it has to take a tougher line on cutting costs and boosting revenue.
It clipped the wings of its independence-minded European divisions in June by concentrating power at its regional headquarters in Zurich under a beefed-up management team, but stopped short then of announcing job cuts or plant closures.
Cuts at the Opel, Vauxhall and Saab units would be the latest blow to carmaking in western Europe.
Ford's (F.N: Quote, Profile, Research) luxury carmaker Jaguar is chopping 1,150 jobs in Britain in a bid to return to profit and Volkswagen (VOWG.DE: Quote, Profile, Research) is in talks with unions to try to push through a 30 percent reduction in its German labour costs by 2011. "
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OPEL FOREVER!!!
"FRANKFURT, Oct 13 (Reuters) - General Motors (GM.N: Quote, Profile, Research) will cut around 10,000 jobs in Europe in a drive to save some 500 million euros ($613.4 million) a year and return its loss-making operations there to profit, a company source said on Wednesday.
"You would not be putting your head in a noose if you used that number," the source said.
An announcement would come on Thursday, he said, but there would be no details on the impact on individual plants.
GM, which last made a profit in Europe in 1999, employed around 63,000 people at 11 production and assembly plants in the region at the end of 2003.
A report in the Westdeutsche Allgemeine Zeitung newspaper said that included in the cuts will be 3,500 jobs at GM's Opel plant in the northwestern German city of Bochum, citing negotiators.
Bochum, which opened in 1962, makes Astra cars and Zafira vans.
German Economics Minister Wolfgang Clement is scheduled to meet Opel officials at the plant on Thursday, a spokeswoman for the North Rhine-Westphalia state government said.
GM Europe's losses widened in the second quarter to $45 million from $3 million a year ago amid intense pricing pressure, adverse currency movements and restructuring costs for a joint venture with Italy's Fiat (FIA.MI: Quote, Profile, Research) .
That brought its first-half loss to $161 million, up from $68 million in the same period last year and it has abandoned its original target of making a profit in Europe this year.
Its third-quarter results are due on Thursday.
GM has already reduced capacity in Europe by 28 percent from 1999 levels but has acknowledged it has to take a tougher line on cutting costs and boosting revenue.
It clipped the wings of its independence-minded European divisions in June by concentrating power at its regional headquarters in Zurich under a beefed-up management team, but stopped short then of announcing job cuts or plant closures.
Cuts at the Opel, Vauxhall and Saab units would be the latest blow to carmaking in western Europe.
Ford's (F.N: Quote, Profile, Research) luxury carmaker Jaguar is chopping 1,150 jobs in Britain in a bid to return to profit and Volkswagen (VOWG.DE: Quote, Profile, Research) is in talks with unions to try to push through a 30 percent reduction in its German labour costs by 2011. "
_______________________________
OPEL FOREVER!!!
It's not that easy Andy, the world has gotten a lot smaller over the past 20 years
Very few automakers are purely American, or Japanese or German, etc. For example, Jaguar, Aston Martin, Range Rover, Volvo, Mazda are all part of Ford, Opel, Saab, Daewoo part of GM, Nissam part of Renault, Crystler part of Daimler, etc.
Very few automakers are purely American, or Japanese or German, etc. For example, Jaguar, Aston Martin, Range Rover, Volvo, Mazda are all part of Ford, Opel, Saab, Daewoo part of GM, Nissam part of Renault, Crystler part of Daimler, etc.
++ [ originally posted by Zlatan ] ++
It's not that easy Andy, the world has gotten a lot smaller over the past 20 years
Very few automakers are purely American, or Japanese or German, etc. For example, Jaguar, Aston Martin, Range Rover, Volvo, Mazda are all part of Ford, Opel, Saab, Daewoo part of GM, Nissam part of Renault, Crystler part of Daimler, etc.
It's not that easy Andy, the world has gotten a lot smaller over the past 20 years
Very few automakers are purely American, or Japanese or German, etc. For example, Jaguar, Aston Martin, Range Rover, Volvo, Mazda are all part of Ford, Opel, Saab, Daewoo part of GM, Nissam part of Renault, Crystler part of Daimler, etc.
Automakers such as GM have connections all over the globe, and thats the way it should be. It helps Detroit's economy so to speak, which I'm very grateful for.
++ [ originally posted by €lke ] ++
Aaaaaah of course
I thought they look like Toyota but I haven't said it.
So what's the difference between both? The price....
Aaaaaah of course
I thought they look like Toyota but I haven't said it.
So what's the difference between both? The price....
Three major Japanese manufacturers saw a market for this in the late 1980s and developed "upscale" products within their respective product lines (Acura is Honda's and Infinity is Nissan's).
It was a smart move. People relate to these brands as something upscale.
On average models of the same class are still cheaper than German and British luxary cars though, while quality is arguably the same.
++ [ originally posted by MISS DUBAI ] ++
There is no difference between the Lexus Land Cruiser and the Toyota Land Cruiser..my dad has a Toyota Land Cruiser and my friend has a Lexus Land Cruiser and believe me,there is no difference at all!!sometimes u get confused u wont even know which is which..
There is no difference between the Lexus Land Cruiser and the Toyota Land Cruiser..my dad has a Toyota Land Cruiser and my friend has a Lexus Land Cruiser and believe me,there is no difference at all!!sometimes u get confused u wont even know which is which..
"Dad's car"
"Friend's car"
Now you will tell
++ [ originally posted by Zlatan ] ++
It's not that easy Andy, the world has gotten a lot smaller over the past 20 years
Very few automakers are purely American, or Japanese or German, etc. For example, Jaguar, Aston Martin, Range Rover, Volvo, Mazda are all part of Ford, Opel, Saab, Daewoo part of GM, Nissam part of Renault, Crystler part of Daimler, etc.
It's not that easy Andy, the world has gotten a lot smaller over the past 20 years
Very few automakers are purely American, or Japanese or German, etc. For example, Jaguar, Aston Martin, Range Rover, Volvo, Mazda are all part of Ford, Opel, Saab, Daewoo part of GM, Nissam part of Renault, Crystler part of Daimler, etc.
you crack me up,Elnur! :LOL: maybe i shud 
++ [ originally posted by Zlatan ] ++
Yes, I know :groan:
Do you know that BMW lost to VW when trying to buy Bentley and Rolls Royce?
Yes, I know :groan:
Do you know that BMW lost to VW when trying to buy Bentley and Rolls Royce?
I would go for a piece that grows and brings money. Somthing like Deloitte Consulting and PWC (the ladder already belongs to IBM though).
But it's a fact: VW has by far more power as a corporation than BMW. Do I care? No.