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Vauxhall's cash boost
15 April 2009
Vauxhall and Opel do not face an imminent cash crisis, despite the troubles of parent company GM, according to a company spokesman.
Reports in Germany today suggested that Vauxhall and Opel had enough money to survive at least another four months. Although a spokesman declined to comment on this, he said: "Opel is liquid."
GM Europe officials had previously said that Opel could run out of cash during the second quarter of this year.
However, strong sales of the Insignia, plus a boost in sales of Corsas and Agilas provided by Germany's scrappage scheme, have raised significant revenue.
Opel has said it needs 3.3 billion euros (£2.9 billion) in state aid in Europe to avoid layoffs and plant closures.
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