GM Won’t Sell Opel, Hertz-Dollar Thrifty Once Again: Consumer Business Report

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Chief Executive Dan Akerson of General Motors Company (NYSE:GM) told more than 5,000 employees in Germany that the firm is not going to sell its European Opel division or “simply close up shop and leave” it. The executive has recently experienced investor pressure to sell or unwind Opel, which Morgan Stanley says could report another $1 billion in yearly operating losses on average through 2021, following $16 billion during the past 12 years. Separately, GN and ABB Ltd (NYSE:ABB) on Thursday exhibited the most recent results of their collaboration through which to re-use electric car batteries from the Chevrolet Volt to provide back-up electrical power for the home. This marks the next phase in battery reuse — five used Chevrolet Volt batteries were packaged into a modular unit that can supply two hours of electricity for three to five average American homes.

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It’s on again. The now famous $2.6 billion attempt by Hertz Global Holdings (NYSE:HTZ) to purchase Dollar Thrifty Automotive Group (NYSE:DTG) is now at the stage in which the United States Federal Trade Commission is prepared to okay the deal, after the former agreed to divest more airport locations than were first offered, according to inside sources. Taken together, Hertz, Avis Budget Group (NYSE:CAR) and Enterprise Rent-A-Car control approximately three-fourths of car rentals with Dollar Thrifty at 5 percent, said a February report in IBISWorld.

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