It’s been a whirlwind of a week for General Motors and its European divisions. Specifically, GM is now without any European footprint. The American automaker sold off Opel and Vauxhall for $2.3 billion to France’s PSA Group, effectively creating the second largest European automaker after Volkswagen.
Opel CEO, Dr. Karl-Thomas Neumann, addressed followers and fans alike during the 2017 Geneva Motor Show, where the brand also debuted the 2018 Opel Insignia Grand Sport and 2018 Opel Crossland X, and he spoke of “new possibilities” under its new ownership at PSA Group.
“We now have the chance to create a real European champion. We will benefit from the new scale but also from the joint vehicle development and the strengths of both our companies with their highly motivated and highly qualified employees,” Neumann said.
As part of the sale agreement, Opel will continue to supply inbound Buick and Holden models as previously planned with no changes to products in the immediate future. However, once the models run their current life cycles, the future is wide open for vehicles like the Buick Regal, Encore and Cascada, all of which hail from Opel.
After 88 years of GM ownership, Opel and will move on to French pastures, and you can watch and listen to what Dr. Neumann has to say regarding the monumental news in the video right up above.