Opelâs Financials Exaggerated By Muddy Accounting - Saab General Bulletin Board - Saabnet.com
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Opelâs Financials Exaggerated By Muddy Accounting
Posted by Trev (more from Trev) on Wed, 27 Jun 2012 20:44:13
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tell me if you've heard this one before:
"As General Motors strategizes to restructure its loss-making European operations, a source familiar with the automakerâs European unit told GM Authority that the losses are more âon paper than anything elseâ.
Speaking on the basis of anonymity, the source explained that Opel doesnât âget paid for its share of development, engineering, or designâ when it comes to rebadged vehicles."
"Another item of contention is the fact that the platforms that are engineered by Opel âare handed over to GM to use as they wish without charge.â Engineers in Europe âspend years developing things like the Epsilon, Delta, and Gamma for Opels; then when Chevy wants to make a compact sedan, it has most of the work all doneâ, said the source referring to the Chevrolet Cruze. âThe same is true of the Malibu, Aveo [Sonic], Buick Regal, Veranoâ."
posted by 24.36.7...
http://gmauthority.com/blog/2012/05/source-opels-financial-problems-exaggerated-by-muddy-accounting/
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