The news from The Associated Press that Canada's Magna International together with Russia's Sberbank is to take control of General Motors' German subsidiary Opel is the latest example of the new world order arising in the auto industry.

Outside the industry, whoever had heard of the giant Canadian auto parts company, let alone Sberbank, before the negotiations over the future of Opel began with GM's restructuring?

Now Magna, which owns the Austrian automobile production company Magna Steyr, is set to control one of Europe's oldest brands. Opel began building automobiles in 1899 and currently employs nearly 50,000 workers across Europe. GM has owned it since 1929.

The deal also involves British auto maker Vauxhall, which GM acquired in 1925 and which employs about 5,000 in Britain, and Sweden's Saab which is in negotiations with Swedish exotic car maker Koenigsegg, U.S. conglomerate Renco Group and Fiat.

Meanwhile, China's Geely Automotive said its parent company, Geely Holding Group Co., plans to bid for Ford's Swedish unit Volvo which has been valued at about $2 billion, according to Reuters.

And GM continues to be in negotiations with China's Sichuan Tengzhong Heavy Industrial Machinery the sale of its Hummer brand. (This followed reports of India's Mahindra & Mahindra being interested in the brand.)

Such a sale would follow Ford's sale last year of the Jaguar and Land Rover brands to Tata Motors of India.

Magna, Koenigsegg, Geely, Sichuan Tengzhong, Mahindra & Mahindra, Tata - all comparatively new names in the global auto industry. But they are likely be taking more of a role in the global auto industry and indeed joined by other, little known companies.

- Peter C.T. Elsworth