Opel confirms DTM withdrawal
Opel has confirmed that it will pull out of the German-based DTM touring car series - but not until the end of the 2005 season. The move is part of a massive financial restructuring of General Motors Europe, which intends to reduce its annual structural costs by £350 million
Opel was one of the manufacturers behind the resurrection of the DTM in 2000 along with Mercedes-Benz. Audi joined the series last year in a full works capacity, having supported the Abt Sportsline team.
The DTM withdrawal is part of GM Europe's plan to trim its sales, marketing and aftersales spending. It fielded seven cars in the DTM in 2004, run by the Holzer, Phoenix and Euroteam squads.
GM Europe chairman Fritz Henderson said: "With losses since 1999 and no reasonable indication that market or economic conditions will improve substantially in the coming years, we have no other choice than to take tough steps to ensure our long-term success. The convergence of a number of negative economic factors over the past several years has undermined our previous turnaround efforts and we obviously need to go much further."
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