This morning, news broke that General Motors was considering the sale of Opel-Vauxhall to PSA Group, comprised of Peugeot, Citroen and DS. The original report broke from PSA’s confirmation it was indeed deep in discussion and in “advanced” talks to acquire the Opel and Vauxhall brands from GM.
GM has officially released a statement on the matter. It reads as follows:
Since 2012, General Motors and PSA Group have been implementing an alliance covering, to date, three projects in Europe and generating substantial synergies for the two groups. Within this framework, General Motors and PSA Group regularly examine additional expansion and cooperation possibilities, as well. PSA Group and General Motors confirm they are exploring numerous strategic initiatives aiming at improving profitability and operational efficiency, including a potential acquisition of Opel Vauxhall by PSA.
There can be no assurance that an agreement will be reached.
GM and PSA previously partnered up for future vehicle collaborations, but GM ultimately sold its stake in PSA off in 2013. Since then, GM has stated vehicle collaboration programs would survive the first product cycle, which we’ve seen in the Opel Crossland X and upcoming Grandland X crossovers.
Should a deal be reached, the original report states GM would hold some sort of stake in the “combined entity.”