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Because there is just no money to be made selling junk.,,,those cars have very little resale value which should tell us something.
I was unfortunate enough to end up with a Vauxhall last time I was in England. The shift stick blocked your view of the label that said which gear you were in and the adjacent gears. Had to lean right over to see it every time. Complete lack of attention to simple things like that made it a bad car to drive.
Ford pulled out of Europe also they like GM want to concentrate on their North America operations. Sure they closed down plants that were making sedans and parts for these vehicles. But they have also are making millions of $$$ investment into other plants in the USA. Sure they still make vehicles in Mexico like every other automakers. As in China and South Korea also.
Actually Ford is still in Europe and is planning a multi-billion dollar investment there through 2022. They are closing 18 plants and eliminating 20% of it's workforce. Ford is the number one selling brand in the UK and will be refocusing on CUV's and commercial vehicles - just like the US market.
The reality is MANAGEMENT - people - who make decisions.
The cars themselves were/are good cars.
"Opel called its 2018 profit "historic" after 20 years of losses under former owner General Motors.
The German brand and its U.K. sibling, Vauxhall, made a profit of 859 million euros ($979 million) in 2018 compared with a $204 million loss for the last five months of 2017 after PSA closed its acquisition of GM's European business on Aug. 1 of that year."
GM just didn't have the right people to run those operations.
The new owners DO !
No, it just shows how easy it would've been to make a profit without the pension albatross.
GM still has the legacy pensions, PSA gets them going forward. Good luck with that!
Europeans decided they'd love to continue driving their own vehicles that have electronic failures that cost several thousand dollars per incident. These are never maintenance-related and tend to happen after warranty, but always before 100,000 km like a slap in the face to anyone who thought about buying one, paying it off, and keeping it for 10 years.
This is why GM "failed" in Europe, and this is why the EU will fail. Arrogance, pride, and insolvency.
There should never be private pensions, the government should tax the companies and there should be a public pension that's better than social security. It's socialism but there's no safety blanket left for the middle class other than SS. Private pensions could easily belly up if a company go bankrupt and reorgs as a different name.
Oh sure, great idea. The government has an excellent track record of managing employee pensions.
Oh sure, great idea. The government has an excellent track record of managing employee pensions.
They do, the Federal Pension system is guaranteed and the Feds have started to require employee to pay more into the system the last few years because the cost of healthcare has gone up so much. For the record the Fed also uses private insurers and they are subsidizing less and less.
They do, the Federal Pension system is guaranteed and the Feds have started to require employee to pay more into the system the last few years because the cost of healthcare has gone up so much. For the record the Fed also uses private insurers and they are subsidizing less and less.
So in other words the federal government has expertise in forcing private-sector pensions to fund their pensions. Of course when a ship is going down, pension contributions tend to slide notwithstanding government guidelines and the pension funds tend to go down with the ship. And, that guarantee is only for 60%.
Of course the federal government doesn't follow the rules it forces the private sector to live by. If any pension was run the way the social security system is run, the fund managers would be dragged by their earlobes into a jail cell.
It’s thanks to GM’s European divisions that GM USA was able to sell the best quality FWD sedans they’ve ever had. GM no longer has Opel to develop their FWD cars anymore. Now GM has to try to build upon what they already have or use China and Korea for their FWD innovations.
It’s thanks to GM’s European divisions that GM USA was able to sell the best quality FWD sedans they’ve ever had. GM no longer has Opel to develop their FWD cars anymore. Now GM has to try to build upon what they already have or use China and Korea for their FWD innovations.
Not true. Company pensions are not part of the bankruptcy estate. Employees may not get as big a pension, but they don't disappear if the company goes under.
But they do, much like SS there are no money stored under mattress waiting for each new retire to tap in.
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