CEO Matthias Mueller sees no immediate issues from PSA-Opel deal

PSA Group’s purchase of General Motors’ Opel will trigger no immediate issues for Volkswagen’s core automobiles division, which is going through significant restructuring, Volkswagen CEO Matthias Mueller stated.

PSA is purchasing Opel in an offer valuing GM’s European arm at 2.2 billion euros ($ 2.33 billion), developing a new automobile giant in the region to challenge market leader Volkswagen.

“Opel and PSA will have had their factors” for the transaction, Mueller informed Reuters. “It has no influence on our strategies initially. We have our own concepts and thoughts and will completely deal with them.”

Asked whether the VW brand will face higher competitive pressures after PSA, by obtaining Opel, ends up being Europe’s second-ranked automaker by sales, Mueller stated: “We took Opel and PSA seriously as rivals in the past. These were two brands and now they’re under a single roofing. I don’t believe that a great deal will change there.”

The VW brand and PSA-Opel will be contending in a European market that experts have stated will become even tougher as emissions guidelines tighten up, demand is near its peak and young consumers rely on ride-hailing services instead of buying an automobile.