fbpx

GM Sells Opel/Vauxhall to PSA

Autosphere » Dealerships » GM Sells Opel/Vauxhall to PSA

PSA, together with BNP Paribas, will also acquire all of GM Financial’s European operations.

GM is selling their Opel/Vauxhall subsidiary and GM Financial’s European operations to the PSA Group in a transaction valued at almost CDN $3 Billion.

The deal will make PSA the second-largest automotive company in Europe, with a 17% market share.

“We are proud to join forces with Opel/Vauxhall and are deeply committed to continuing to develop this great company and accelerating its turnaround,” said Carlos Tavares, chairman of the Managing Board of PSA.

“For GM, this represents another major step in the ongoing work that is driving our improved performance and accelerating our momentum,” said Mary T. Barra, GM chairman and CEO. “We are reshaping our company and delivering consistent, record results for our owners through disciplined capital allocation to our higher-return investments in our core automotive business and in new technologies that are enabling us to lead the future of personal mobility.”

Categories : Dealerships

Popular Posts

Calendar

march

21marAll Day23N! Business Forum - We owe you more than business as usual

23marAll Day25The 2023 ERA Trade Show

23mar2:00 pm3:15 pmNAFA Webinar : MD/HD Charging Infrastructure Challenges and Considerations

30marAll Day01apr2023 OARA Convention & Trade Show

31marAll DayFree Service Technician Webinar from ASE: ASE Winter Registration Deadline March 31

april

04apr(apr 4)4:00 pm05(apr 5)10:30 pmAccessoires d’auto Leblanc Trade Show 2023

12apr2:00 pm3:15 pmNAFA Webinar : Lessons Learned and Best Practices in Fleet Electric Vehicle Charging Infrastructure Deployment

21aprAll Day23The MEVS back at the Olympic Stadium in Montreal for a Sixth Edition

24apr(apr 24)8:00 am26(apr 26)5:30 pmNAFA Institute and Expo 2023