German newspapers are reporting that the sale of General Motors’ Opel division to French rival PSA Group will be finalized and announced on March 1, 2017. Both parties are reportedly looking to complete the transaction before the Geneva International Auto Show, which commences on March 6. This includes Britain’s Vauxhall, as well.
Though negotiations are still ongoing and will run until the last minute, the transaction is no longer at risk of failing or breaking down, as both GM and PSA have significant interests in the deal’s successful completion. We expect full details next week in official releases.
So far, the GM sale of Opel to PSA is said to be valued at $2 billion USD. Since the press caught wind of the negotiations, GM leaders, union leaders, and major European politicians have been in constant contact. Topics discussed mostly revolved around job protection. Other topics covered were what would happen to the current Opel management team, and if the German automaker would “remain independent” from Peugeot-Citrõen.
Stay tuned for more.
Comments
I’m gay
I can tell. Very happy you are
Gongratulation
Can we see a comeback of Chevrolet to the european market?
These sale is a admitted failure. If I was a GM’s investor, I wouldn’t be reassured for the next steps!
For all those that find I’m stupid and if you could read french:
https://www.challenges.fr/automobile/actu-auto/chez-psa-on-sait-exactement-quelles-sont-les-faiblesses-d-opel_456022
Interesting stuff, this article from “Challenges”.
I did not know this publication before.
Thanks for this interesting stuff, this article from “Challenges”.
I did not know this publication before.
Carlos Tavares denied this rumor this morning in a round with invited journalists, among them reporters for the German language Crain publication “Automobilwoche”.
Tavares also said, that taking over Opel would be a “nice to have”, but not a “must”.
He also explained that he wants to keep Opel as a German company, because in some markets, being German sells more than being French (which is also true the other way round in other markets).
renault must joined to PSA group have nice
GM= Sacramento Kings pathetic right now
I think this decision is outstanding!
psa
http://www.auto-moto.com/nouveautes/scoop/scoop-nouvelle-peugeot-508-2-2017-51340.html
A huge mistake in my opinion. Although GM has to be in Europe with Chevrolet as a core brand at first, Buick as premium and Cadillac as luxury brand. GM must develop diesel engines to rise its market share in Europe. GM must keep the R&D and engineering of Opel in GM Europe.
Diesel’s are a declining market in europe as electrified (full ev and hybrid) take off. The VW scandal proves the modern clean deisel is a fake promise and thus will decline diesel market share
I think chevrolet needs to stand on its own in Europe without having to worry about opel and vaxhual. This can be a fresh start for chevy, Buick and Cadillac in Europe.
At least GM won’t be losing money in Europe from opel year after year like they have been.
If this makes GM more profitable for both the short and long term then I think this is a great move.
Now is GM thinking Holden is next?
I have started to realize that PSA does really want a takeover of Opel with severing Opel’s ties to GM. Follow the link posted by Edmond and read also the other articles on the topic in that publication.
“GM technology will fade away and will be replaced by PSA technology”
With Crossland, Grandland and the small utility (LCV) being developed together by PSA and Opel, already one fifth or one quarter of Opel’s portfolio will be based on PSA platforms instead of GM platforms.
But as both sides said, it is not yet sure that a deal will be reached.
But if it comes as PSA wants, that actually does make way for a reintroduction of Chevrolet in Europe. GM could reconnect with dealers in the association of Opel and Chevrolet dealers, “Verband Deutscher Opel- und Chevrolet-Händler e. V.” (www vdoh de).
Any deal will stipulate GM will not be able to just bring back chevy right away and compete. That would be a bad deal for PSA. I think GM will be more selective and expand it’s portfolio of cars at the premium levels and not deal with the mass market segment at all
OTOH, Der Spiegel writes that GM is objecting to the export of Opel vehicles with GM technology to North America, China and the Russian Federation.
These reciprocal demands could be ironed out in the negotiations – either a reciprocal period of grace of a given number of years, or a free for all right from the start after the sale.
Things like that remind me of the irony in the purchase of Rolls Royce the the VW trust under Ferdinand Piëch, who (he was not yet among the owners of the VW corporation, but only his CEO) was ready to shell out one thousand million (can’t remember if it was already Euro or still Deutschmark) for the Rolls Royce Motor Company, but only to find out that the brand rights to Rolls Royce for motor cars was still owned by Vickers or rather Rolls-Royce aircraft engine and power systems, which had collaborated with BMW already in the field of aircraft engines (BMW is the creator of the famous star engine configuration for air craft engines, i.e. a number of pistons arranged in a circle) and also automobile. So the crazy Piëch had the Crewe factory but not the Rolls Royce name, only the Bentley name.
Rolls Royce plc sold the brand Rolls Royce for motor cars to BMW, and BMW and VW agreed on a three year grace period where VW would still be able to use the Rolls Royce brand, while BMW would build a new factory for Rolls Royce branded luxury cars. VW used those three years to build the Bentley brand, among others by allowing Bentley to win the 24 hours of Le Mans with a race car built on the base of the Audi R8 or however Audi’s Le Mans race car was named in those years.
‘t was a quite amusing story.
But gm can coporate psa future. I think they coporate. And they can buuld cars together like now today
And i hope and think that renaul joined psa group to. And gm and psa must be family this thing is grazy cool big bisnes