PSA Group prepares to cut numerous models and curb discounts at its Opel division, Frankfurter Allgemeine Zeitung reported on Monday, without pointing out the source of the details. The automaker is in the process of incorporating Opel after buying it previously this year from General Motors, a project which experts say will result in sweeping
PSA Group’s quarterly income increased by nearly a third, the maker of Peugeot and Citroen cars stated on Wednesday, as it added Opel-Vauxhall sales estimates for the first time. The company’s performance was likewise helped by sales growth in Europe and Latin America in the 3 months ended September 30, however the automaker lost more
PSA on Friday stated it would cut about 400 jobs at Vauxhall’s Ellesmere Port located in Britain by the end of the year to enhance the production center’s competitiveness. PSA obtained the Opel and Vauxhall brands from General Motors in August, assisting the automaker leapfrog rival Renault SA to become Europe’s second biggest automaker by
PSA Group has agreed to purchase Opel from General Motors in a deal estimating the company at 2.2 billion euros ($2.3 billion), the company stated, developing a new regional cars and truck giant to compete market leader Volkswagen. The maker of Peugeot and Citroen automobiles pledged to return Opel and its British Vauxhall brand to
PSA Group’s proposed acquisition of Opel would quickly produce savings and worth from the General Motors European division’s turnaround and complementary brand names, the French automaker’s CEO Carlos Tavares stated on Thursday. Including GM’s German Opel and British Vauxhall brands would bring new consumers hesitant to buy French automobiles, Tavares informed experts and press reporters,
PSA Group, the French automaker in talks to purchase Opel from General Motors, revealed its first dividend in six years and raised its medium-term profitability objective on Thursday after full-year revenue nearly doubled. The maker of Peugeot and Citroen vehicles said more stronger pricing, sales of higher-specification models and cost cuts raised the automotive operating
PSA Group’s CEO provided assurances to German Chancellor Angela Merkel in a call that Opel would stay independent in a merged business with PSA as well as gave jobs and investment assurances, the chancellor’s spokesman stated on Tuesday. “PSA Chief Carlos Tavares stressed that both companies would match each other well,” representative Steffen Seibert stated.