JarAutoNews

Sold! GM Offloads Opel

Go Back
Junior's Auto Repairs

Sold! GM Offloads Opel

Sold! GM Offloads Opel onto PSA Peugeot Citroen

General Motors has officially agreed to sell its Opel and Vauxhall brands to the PSA Group as the Detroit automaker attempts to stanch more than a decade of staggering losses in Europe.

According to a report by Reuters, the PSA Group (Peugeot and Citroën) approved the deal Friday, weeks after admitting it was seeking to buy the German and British brands that GM has owned for 86 and 91 years, respectively. The two companies are expected to announce the deal on Monday, Reuters said, and have resolved their competitive issues in China and the problem of Opel’s billions in pension liabilities.

It is unclear whether the sale indicates GM would essentially give up the Europe market. GM Europe, primarily the Opel and Vauxhall brands, has lost money for 16 consecutive years. Cadillac has close to zero market share there, and as of last year Chevrolet no longer sells any cars in Europe aside from the Corvette. Whether GM sells the Opel Vauxhall entirely (as Ford sold 100 percent of Jaguar and Land Rover to Tata) or completes a merger that would let it retain a stake in PSA, the two former GM brands will inevitably face aggressive cost-cutting measures that will further shed jobs, close factories, and shrink model lineups.

Other News

Junior's Auto Repairs

188k+ Remains Missing

East Rutherford police say anyone turning in money won't be prosecuted, but that anyone seen on surveillance video taking money who doesn't turn it in could be arrested. About $188,000 remained unreturned this week......

read more..

Junior's Auto Repairs

Freeway Sign & Falling

Escaped from freeway sign crashing down without warning.......

read more..

Junior's Auto Repairs

2019 LEXUS LS 500: A Polarizing Visual

Lexus made a name for itself building unimpeachably well-engineered and well-built luxury cars that were also, let's be honest, a little bit beige. Impressive values, sure, and cool in their own normcore way (I'd love to have a Floridian grandpa-style early 1990s LS, personally), but beige. ....

read more..

Image

Schedule Appointment Today!

Have your Vehicle Services or Repaired Today!