GM has finally announced the sale of Opel to Magna after months of debating. According to GM's press release, Magna/Sberbank will own 55 percent of Opel, while GM will retain 35 percent and employeeshttp://www.thetorquereport.com/us/sysdoc/blog/mt.cgi?__mode=view&_type=entry&blog_id=2 will hold the remaining 10 percent.

In the coming weeks binding agreements including the written support of the labor unions and a definitive financing package from the German government will be finalized.

Under the new agreement, Opel/ Vauxhall will continue to be a fully integrated part of GM's global product development organization.

GM'S board is meeting again to discuss the fate of the Opel and Vauxhall brands and a decision could come out as early as today. The board is expected to hold its second round of meetings today after it failed to make a decision last month.

Currently there are two bidders for Opel, RHJ and Magna. Germany's organized labor is supporting a sale to Magna because it is expected to save more jobs in Germany. On the other hand GM is worried that a sale to Magna would hurt GM's Russian business. Although GM could delay the announcement again, political pressure may bring a decision sooner than later.

GM's board declined to name a winning bidder for the Open brand last Friday as was expected. Instead the automaker decided to ask the German government more information about state financing for the buyers.

The German government has been pressuring GM to announce the sale of Opel to Magna and its Russian partners, since it would mean that more jobs would stay in Germany. Although it seems that GM is preferring a sale to Brussels-based financial investor RHJ International. So rather than announce the sale on Friday, GM's board wanted to find out how much money RHJ would get from the government if they were chosen. It's also being reported that the reason that GM is keen on selling Opel to RHJ is because it would include a buy-back option.

Either way the German government is not happy about the delay and Opel's labor leader Klaus Franz has threatened "spectacular measures" if a decision is not made this week.

The all-new Opel Astra is set to be officially unveiled at the 2009 Frankfurt Motor Show this September and now comes word that a two-seat convertible variant is in the works.

The new Astra convertible will replace the Astra TwinTop in the lineup and will only seat two. It will feature a retractable hardtop and will be sportier than the old TwinTop. The interior will be similar to the hatchback, but with sportier seats and more luxury appointments.

The two-seater is expected to go head to head with the Mini and VW's upcoming roadster.

Following yesterday's photo leaks, GM has officially unveiled the next-generation 2010 Opel Astra ahead of its unveiling at the Frankfurt Motor Show this fall.

The 2010 Astra borrows styling cues from the mid-size Insignia. The new Astra has more interior room thanks to a longer wheelbase. It also features a cab-forward design that exhibits Opel's new design language, sculptural artistry combined with German precision. The wing and blade design cues on the exterior are also used on the inside.

There are a total of eight engines that will be offered, four diesel and four gasoline powered. The diesel engines range in size from 1.3L to 2.0L units, putting out between 95- 160 horsepower. The four gasoline engines put out from 100hp to 180hp.

Now that Saturn is dead, it's been rumored that Buick will receive this new Astra.

Although the Saturn Astra may be dead, the US may still get the next Astra under the Buick brand. The first photos of the all-new Astra (Euro-spec) have surfaced.

The new Astra is based on the Delta platform, which underpins the Chevy Cruze and upcoming Volt. The sixth-generation Astra will be powered by a normally aspirated gasoline1.4L four-cylinder according to CarScoop and turbocharged variants will also be offered. A turbocharged 180-hp 1.6L is also expected. In regards to diesel powerplants, a range of diesels will also be available, including 1.3, 1.7 and 2.0L variants.

CarScoop also claims that the five-door Astra will hit showrooms this fall and a three-door GTC coupe is expected to follow. A wagon, four-door sedan, and a retractable hardtop model are also expected.

Now we just have to wait and see if the Astra makes it to the US, even though GM's ownership of Opel may soon be over.

Although Opel has been one of GM's "better" brands lately, the European brand is not going to be under the GM umbrella much longer. It's already been rumored that GM is looking for a suitable buyer for the brand, but now GM CEO Fritz Henderson recently stated that there are several bidders for the brand.

GM hopes to decide on a buyer by the end of this month, right before its June 1st deadline. Fiat and Magna have publicly announced their interest in the brand. GM insists on having the final word on who buys the brand. GM has also asked the German government for 2.5 billion euros to help finance new company.

Now if GM can find a buyer for Saab and HUMMER...

Although Opel and Vauxhaull's parent company GM may be having some financial problems, Opel and Vauxhall are still moving ahead with the unveiling of the 325 horsepower Insignia.

The Vauxhall version of the hot Insignia is dubbed the Insignia VXR and the Opel version is dubbed the Insignia OPC. No matter which name the Insignia receives, both models feature the same turbocharged V6 and Nurburgring-proven chassis.

Under the hood there is a turbocharged 2.8L V6 that puts out 325 horsepower and 295 lb-ft. of torque. That's 25 more horsepower than in the Saab 9-3 Turbo-X, which uses the same engine. The engine is mated to a six-speed manual that puts the power to the ground via all four wheels. According to the automaker the car reaches 0-62 mph in 6 seconds.

Deliveries are expected to start this fall.

Now that Saturn is all but dead in a few years it looks like GM is trying to figure out to bring its impressive Opel Insignia to the US. Originally the next-generation Saturn Aura would have been our version of the Insignia, but instead the sedan could come here as a Buick or Cadillac.

Automotive News is reporting that the Insignia is set to hit US dealerships under the Buick brand as a replacement for the discontinued Regal sedan. But the fact that the Insignia shares the same front-wheel-drive platform as the next-generation LaCrosse, it may not make much sense. Instead GM may bring the Insignia to the US under the Cadillac brand, which could feature both front-wheel-drive and all-wheel-drive versions.

GM is set to unveil two more versions of the Volt at the Geneva Motor Show. In Europe the Volt will be called the Ampera and sold under the Opel and Vauxhall brands.

The Ampera is essentially the same thing as the Chevy Volt although with a bit more style on the front and rear of the car.

The Ampera will enter production in late 2011.

The news has been pretty grim over at GM the past few weeks, but one thing the automaker can celebrate is that the 2009 Opel/ Vauxhall Insignia has been named the 2009 European Car of the Year.

The Insignia achieved the award by a mere one point (321) over the 2nd place finisher, the Ford Fiesta (320). The bronze winner was the VW Golf with 223 points. This is the first win for the Opel brand in 22 years.

Bob Lutz has confirmed that the all-new Opel Insignia is definitely coming to the US as the next Saturn Aura, but the Aura will have not share the Insignia's body.

After several leaks the last few days, Opel has finally taken the wraps off the all-new Insignia sedan.