Working in Car insurance it’s really quite sad when a famous marque goes to the wall.
It’s even sadder when it’s a British one!
So it’s great news that Vauxhall Motors will not just be appearing on the classic car insurance list in the future!
As a kid I remember my first ride in a vauxhall viva and later buzzing around in my mate’s Astra sri and later still in an excellent Vauxhall Cavalier 2.0 company car provided by General Accident.
I’ve never actually owned owned one… hey! but I love Aston Martin’s as well….
And it’s good news for Bedfordshire too!
The company and it’s 5000 workers, whose long term future has been in doubt since General Motors sold off the European Division to Canadian Company Magna earleir this year, appears finally to received the assurances that the German Division Opel Motors received on day one of the deal! The jobs are safe for now!
As late as Monday, the future of the deal was still hanging in the balance as the British and Spanish governments threatened to wreck the sale because it favoured GM Europe’s Opel plants and workers in Germany.
The outcome appears to be a triumph for ministers, led by Lord Mandelson, the UK Business Secretary, in the face of what seemed to be a done deal between the government of the German Chancellor Angela Merkel and Vauxhall/Opel’s US parent company, which was itself recently restructured. Such an arrangement would have fallen foul of EU competition rules.
Yesterday, the GM chief executive Fritz Henderson said it was “quite possible” that the deal would be signed this week.
Dark Lord Peter Mandelson said: “We now have a much better outcome than we originally had, but we still have some way to go in agreeing the financing of this and that’s what talks will be continuing about.”
GM will sell a 55 per cent stake in its former European operations to Magna, with €4.5bn in loan guarantee from the German government.
Maybe Peter Mandelson does carry as much clout as Angela Merckel?
Since his early summer Sunday morning trashing of that Andrew Marr bloke, Lord M has gone from strength to strength….
PM would make a great PM…..
And we might actually have somebody English leading England’s 2018 Football World Cup Bid!