Magna Wins Opel Bid, Wants to Build Cars in Canada - Saturn ION RedLine Forums
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post #1 of 16 (permalink) Old 06-02-2009, 09:31 AM Thread Starter
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Magna Wins Opel Bid, Wants to Build Cars in Canada


By solidifying a deal to take control of GM's European operations, Canada's Magna International Inc. is eager to start producing Opel cars in Canada.

"We want to build Opel cars in Canada," said company founder and CEO Frank Stronach. "Canada should have its own Canadian company … a truly Canadian automobile industry."

The third largest auto parts supplier in the world, Magna certainly has the resources and the know-how - it just doesn’t have the facilities to build cars in Canada. That, however, might all change as Chrysler may close operations and General Motors Canada recently shut down its truck plant in Oshawa, Ontario.

The lower value of the Canadian currently would likely help matters and should be enough to easily offset the cost of shipping vehicles to Europe - although it's not clear that Canadian-built cars would be for the European market, as moving production outside of Germany would certainly be a devastating public relations move.

What Stronach may have in mind is for Opel-based cars to be built in Canada for distribution in Canada and the U.S. As Magna is also currently bidding to take control of Saturn from GM, it's entirely possible that production of those models, all but one of which are based on Opel vehicles, could happen in Magna's backyard.

There is also a strong possibility that Magna will expand into the Russian car market.

Magna's partners in the Opel deal include Sberbank of Russia and both Stronach and Magna have strong ties to Russia. Stronach actually did work as an auto industry adviser for Prime Minister Vladimir Putin and Russian Magna investor Oleg Deripaska (the owner of Russian truck maker GAZ) has had long standing aspirations to sell consumer cars.

Building Opel models in Russia is a strong possibility, however, it is unlikely those models would be exported to Europe.

General Motors is expected to announce final candidates for the sale of Saturn in the next few weeks.

More: Magna Wins Opel Bid, Wants to Build Cars in Canada on AutoGuide.com
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post #2 of 16 (permalink) Old 06-02-2009, 09:34 AM
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Oh eff yeah!

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post #3 of 16 (permalink) Old 06-02-2009, 09:38 AM
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what does this mean for us? cliff notes?

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post #4 of 16 (permalink) Old 06-02-2009, 09:49 AM
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The Opel/Vauxhall brand will be sold in North America, and GM and Chrysler will possibly have an chance to sell their closed/closing plants in Ontario.

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post #5 of 16 (permalink) Old 06-02-2009, 09:50 AM
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aah got ya. thanks!

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post #6 of 16 (permalink) Old 06-02-2009, 09:57 AM
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Where is DTCD? He'll probably jizz in his pants when he sees that his two favorite brands will be sold over here.

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post #7 of 16 (permalink) Old 06-02-2009, 10:19 AM
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Where is DTCD? He'll probably jizz in his pants when he sees that his two favorite brands will be sold over here.
*excited voice* oh hell yes.
now they should sell me the speedster for 2k....
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post #8 of 16 (permalink) Old 06-02-2009, 12:09 PM
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The move magna is thinking about doing with opel and saturn seems like one of the problems saturn now has with gm. Creating competition within itself. Since both brands are pretty much the same it doesn't make sense for a company to carry both brands unless they change them.
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post #9 of 16 (permalink) Old 06-02-2009, 12:24 PM
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The move magna is thinking about doing with opel and saturn seems like one of the problems saturn now has with gm. Creating competition within itself. Since both brands are pretty much the same it doesn't make sense for a company to carry both brands unless they change them.
Magna didn't buy Saturn.... just Opel and Vauxhall.
Who ever buys Saturn will have to take the brand in a different direction from the Opel styling that GM intended.

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post #10 of 16 (permalink) Old 06-02-2009, 01:17 PM
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Magna didn't buy Saturn.... just Opel and Vauxhall.
Who ever buys Saturn will have to take the brand in a different direction from the Opel styling that GM intended.

Very true, but in the 5th paragraph it says that magna is currently bidding for saturn from gm.
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