Despite the recent approval of a mid-term business plan, analysts believe the firing of Stracke could represent a last ditch effort to save Opel. The European division has lost $3.5 billion over the last three years and GM's interest in saving the business is clearly waning.
IG Metall, the union that represents Opel's blue collar workers, shares Dudenhoeffer's sentiment. Armin Schild, a regional boss for IG Metall, told reporters last month that if negotiations with Opel fail, "the overarching message then is there is no agreement with IG Metall and that is possibly the beginning of the end of the company."Â
Opel has struggled to cope with dropping European auto sales and overcapacity at most of its European plants. GM attempted to sell Opel in 2009, but the deal was ultimately terminated. Given Opel's current state, it seem unlikely that a deal to sell the division could be struck.
