VX closing rumours

**yorkshireborn** · 9th November 2008, 10:45

our lasses brother told me last night thst on the buisness news channel they mentioned that both VX plants are to close in the uk and one in europe plus the sale of VX/OPEL/SAAB.
im sure these are just false rumours floating about with some major news coming some time next week.

has anyone else heard these rumours that work for VX.

**steve1975l** · 9th November 2008, 11:04

My friend is a mechanic at a Vx dealership and was made redundant on Friday.

**vecdti** · 9th November 2008, 11:10

its true mate , it aint guna happen overnight tho

**_ZS_** · 9th November 2008, 11:12

Every dealership is shedding employees. Only thing that indicates is the recession is realy hitting.

**Hirobofly** · 9th November 2008, 12:54

GM is about going bankrupt if no money is inserted into the company. -GM hopes the US goverment will give them a hand.
What happens with the different brands that GM has is uncertain, they are probably sold to others. There is a speculation that SAAB is to be sold to some Chinese company....Opel/Vauxhall is probably sold as well.

The economy has grinded to a halt in almost every country now, everybody is keeping their money close now and that means that alot of people are going to be unemployed for a while. This is the backside of the economy we have learned to love the last few decades.......

**gregc** · 9th November 2008, 14:30

Is there to be a nother big TATA round of buying car companies????

**Ozz** · 10th November 2008, 06:46

Your right fella's, it is damned ugly what is going on & there really isn't anything speculative about these rumours at all, if you consider this. GM has dropped 48% in sales for the last 6 months alone,with trends suggesting further 3-5% accumulative drops per quarter for the next 4 quarters alone. Some serious salvage work for GM is afoot my friends & it aint going to be pretty.

I can tell you that being an investment banker/economist, this is just one of the things that comes across my table on a weekly basis. Imagine, unemployment alone in double figures for many first world countries within 2 yrs.....This is what greed does boys.....

**VauxVeteran** · 10th November 2008, 09:10

They along with the rest of the car firms wanna start offering new cars at affordable prices, 20k for a mid range Vectra is just 6k too much for the common man to head into the showroom, if I could get a new Insignia SE auto CDTi for 14k next year I would get one, but blow paying 21k for one, Skoda have just released a fantastic new model, but again it's 20k+ for a decent spec one, imagine VX were to offer Insignia's for £9999 in basic spec, how many ppl would be tempted to have a nice new 09 plate on their drive next yr?

**Ste** · 10th November 2008, 09:22

TATA is unlikely to buy anty new brands - we are feeling the effects of lower sales too.

Dealerships shedding employees isnt anything to do with VX, as they are not VX, just a dealership.

It will defo get more serious over the next 18 months.

I completely agree with lower cost cars. Give me a well built basic car (who really needs toys anyway) and ask a good price for that. That will get peoples business in the hard times ahead.

**caspy** · 10th November 2008, 09:28

Current Vectra's are selling brand new at £9995! How much cheaper does it need to be ??? GM have a min CASH bank balance point of £7.8 Billion! They can sustain losses at current rate til mid to late next year before this figure is hit. They have plenty of reserves but no one ever wants to dip in, but times like these are what reserves are for. European element of GM is profit making, US isint. Why sell your life blood?? SAAB, different story though!