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Opel and Vauxhall not for sale, according to GM CEO Akerson

Opel and Vauxhall were rumored to be up for sale by German media sources, but GM CEO Daniel Akerson has reassured Opel CEO Karl-Friedrich Stracke they will remain under GM ownership.

Opel and Vauxhall, the respective German and British subsidiaries of General Motors, are not for sale, insists GM CEO Daniel Akerson.

Opel and Vauxhall, which are undergoing their own restructuring processes, were rumored by German media sources to be on the docket for sale to either Volkswagen or China's Beijing Automotive Industry Holding Company.

Though Akerson has expressed frustration with Opel's and Vauxhall's relative stagnation, he spoke on the phone with Opel CEO Karl-Friedrich Stracke early this morning, assuring that the brands would remain under GM ownership.

Opel (which builds the US-market Buick Regal in its factory in Russelsheim, Germany) and Vauxhall can both trace their histories back 150 years, becoming wholly-owned subsidiaries of General Motors in the 1920s.

Both Opel and Vauxhall are expected to sell their own versions of the Chevrolet Volt, called the Ampera, by the end of the year.

Source: Reuters