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Opel’s Financials Exaggerated By Muddy Accounting
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Posted by Trev (more from Trev) on Wed, 27 Jun 2012 20:44:13 Share Post by Email
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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 automaker’s European unit told GM Authority that the losses are more “on paper than anything else”.

Speaking on the basis of anonymity, the source explained that Opel doesn’t “get paid for its share of development, engineering, or design” when it comes to rebadged vehicles."

"Another item of contention is the fact that the platforms that are engineered by Opel “are handed over to GM to use as they wish without charge.” Engineers in Europe “spend 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 done”, said the source referring to the Chevrolet Cruze. “The same is true of the Malibu, Aveo [Sonic], Buick Regal, Verano”."



posted by 24.36.7...

http://gmauthority.com/blog/2012/05/source-opels-financial-problems-exaggerated-by-muddy-accounting/

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