Reports say Vauxhall and Opel have enough cash for another four months

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.

Add a comment…