Opel Insignia Wins European Car of the Year

Finally, some good news for GM.

GM Europe's Opel division has taken the European Car of the Year award for the first time in 22 years.

The Opel Insignia, the latest mid-sized sedan from the German automakers, beat out Ford's new Fiesta by just one point to win the top prize.

The Insignia comes with a range of four 2.0 liter diesel engines (from 110 to 190 hp) and four gasoline engines which top out with a 2.8 liter V6 turbo with 260 hp. It has won largely positive reviews for its top notch styling and improvements in driving dynamics.

Car sales in Europe have been hit hard by the current crisis. New car sales were down 14.5 percent in October compared to the same period last year for the Europe region, which includes the 27 EU states and other European countries too, according to figures compiled by ACEA, the industry group that represents automakers in Europe.

The other runner ups were the Alfa Romeo Mito, the Citroen C5, Skoda's latest Superb, the Renault Megane and the Mk VI of the VW Golf.