Adam Opel AG

European car sales crashed in September as data from an industry association shows. German new car registrations fell 11 percent to 250,000 vehicles compared to August. Declines in France and Italy surpassed 20 percent.

On the 150th anniversary since its founding, European carmaker Opel is planning to cut the working hours of its German workforce in half.

As General Motors (GM) struggles to avoid bankruptcy despite billion dollar loans from the U.S. government, its two classic European manufacturers Saab and Opel are now up for sale.

Opel, one of the biggest European auto makers, and currently part of GM, faces a tough fight for survival in the face of the global economic crisis and plunging auto sales.