PSA gets EU approval to buy Opel

PSA peugeot Citroen

French automaker PSA Groug secured genuine EU antitrust approval on Wednesday to obtain General Motors’ German unit Opel, a move which will assist it better rival with market leader Volkswagen. The European Commission stated the deal did not pose any rivalry issues. PSA, the maker of Peugeot and Citroen automobiles, has vowed to return Opel […]

Opel CEO Karl-Thomas Neumann to resign after sale to Peugeot

Karl-Thomas Neumann

The CEO General Motors’ European subsidiary Opel, Karl-Thomas Neumann, prepares to resign as GM prepares to sell the company to France’s PSA Group, Frankfurter Allgemeine Sonntagszeitung (FAS) reported on Saturday. Without mentioning its sources, the newspaper stated that while Neumann sees the sale to PSA as the best tactical action, he is concerned that the […]

Peugeot Family Suggests Opel Purchase Part Of Bigger Plan To Top Global Market

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General Motors surprised the European automobile market when it reached a deal to sell Opel and Vauxhall to France’s PSA Group this month. While GM wants to save important resources by foregoing development of Europe-only automobiles, PSA Group has bigger strategies. Robert Peugeot, chairman of the PSA Group’s technique committee, described to Reuters, that “all […]

FCA CEO Sergio Marchionne says a General Motors merger still makes sense

CEO Sergio Marchionne

Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne is still interested in a merger with General Motors, stating on last week that it still made sense after General Motors sold its European operations to PSA Group. Marchionne has long promoted more vehicle market mergers to share the prohibitive expenses of making cleaner and more technically advanced […]

Vauxhall boss Rory Harvey says UK production essential to the car brand

vauxhall adam rocks

The managing director of British automobile brand Vauxhall, which is being purchased by Peugeot from General Motors, stated on Tuesday the company’s British production sites were essential to the brand’s heritage and sales. “A key part of the brand heritage is that there is UK manufacturing,” Rory Harvey informed press reporters at the Geneva Motor […]

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

Volkswagen CEO Matthias Müller

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 […]

French and German ministers share job concerns in PSA-Opel deal

Images of Opel Adam Rocks S

France and Germany share common issues about the influence on jobs from PSA Group’s proposed tied-up with General Motor’s Opel unit, the two nations’ economy ministers stated on Wednesday after talks in Paris. French Economy Minister Michel Sapin stated it remained in the interest of Peugeot-maker PSA that Opel’s autonomy is fully protected in the […]

Opel deal would find ‘speedy’ savings says Tavares

Carlos Tavares

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, […]