GM buyback of Opel disallowed in Germany, GMI offers buyback scheme for Opel Astra and Corsa owners in India

According to a Reuters report, Germany's economics minister has ruled out the possibility of allowing General Motors to include an option to buy back majority control of Opel, as part of a deal to give up over 50% of Opel in exchange for financial help from Germany.

GM has put the Opel brand up for sale but the deal is expected to be a difficult and complicated one, since the German government wants to make sure that the company that buys Opel is financially strong and that can take a long-term view of reviving Opel. Canadian and Chinese companies are said to be in the running to buy Opel and final offers from all interested parties were supposed to be submitted by today evening.

In an interesting aside, General Motors India (GMI) is offering a chance to Opel Astra and Corsa owners to trade in their cars for a new Chevrolet. GMI, which sold Opel cars in India for around 10 years, discontinued the brand here in early 2006, choosing to go only with Chevrolet.

Now, as part of its buyback scheme, GMI will offer Astra/Corsa buyers a certain sum of money (in terms of exchange value), depending on the condition of their car. This exchange value can be redeemed against the purchase of any new Chevrolet vehicle. ‘With the buyback scheme, we are giving an opportunity to our customers to enjoy the Chevrolet experience. Our goal is to continue to reach out to our customers both new and old, and provide them best and the latest cars,’ says GMI vice-president, P Balendran.

However, given the difference in build quality and performance between Opel and Chevrolet cars, and also given the fact that except for the Spark (and possibly the Captiva...) all current Chevrolet cars sold in India are simply terrible, we wonder how may of those who own an Opel car would want to ‘enjoy’ the Chevrolet experience!!