Peugeot Citroën’s planned purchase of Opel and its operations from General Motors is believed to be largely a done deal, with only minor details remaining.
According to Bild, the details will be announced on the first of March. It’s thought that both GM and PSA want to sign the papers before the Geneva International Autosalon, where Opel will introduce the new Insignia sedan and PSA plans to show the new DS7 mid-size crossover. The deal does not include Australia’s once-glorious-but-now-gutted Holden brand. (Read More…)
Opel autoworkers and executives worried that a French takeover will see their pretzels and bratwurst replaced by baguettes and brie can rest easy, or so the automaker looking to buy their company claims.
France’s PSA Group, which could submit a bid to buy Opel and sister division Vauxhall this week, would give the German automaker the autonomy it desperately craves, the company’s CEO told labor reps and Germany’s chancellor.
That elongated “Z” won’t become a fleur-de-lis. (Read More…)
In the dark days of the recession, as General Motors was frantically attempting to save itself from the abyss, many thought it odd that the automaker’s GMC division was saved while a storied brand like Pontiac met its executioner. As for Saturn and Hummer, well, let’s just say far fewer tears were spilled over those deaths.
Clearly, GM saw long-term profitability in its carless brand — a prediction that has since panned out. From a low point in 2009, GMC sales doubled to 558,697 units by 2015. However, it isn’t the number of vehicles sold that’s the sweet spot for the automaker — it’s the number of GMCs sold in top-end Denali trim.
At GM’s utility brand, luxury versions of non-luxury vehicles are proving increasingly popular. (Read More…)
What’s the selling price for a huge automaker’s entire European operations? $2 billion, apparently — one billion in cash and another billion in gained liabilities.
That’s the valuation that General Motors and PSA Group are discussing as the American automaker attempts to unload its Opel and Vauxhall divisions, Bloomberg reports. (Read More…)
Volkswagen’s emissions scandal may have killed that company’s diesel presence in North America, but it didn’t kill demand for diesel engines in general — especially ones that don’t pollute like Chernobyl and end up in the trash heap.
At least, that’s General Motors’ take on it. The automaker hopes to fill the void created by VW’s oil-burning absence and, in doing so, score some points with the EPA. With diesel engines now available in five vehicles you won’t see on a worksite (and five more that you would), GM has high hopes it can erase memories of its 1980s diesel woes. (Read More…)
Peugeot seems to be on a roll. PSA Group, formerly known as PSA Peugeot Citroën, announced a new five-year strategy last year after its bailout by the French government. This week we’ve seen some big movement on a potential purchase of Opel and Vauxhall from General Motors. The news was upsetting at Opel’s headquarters in Rüsselsheim, Germany, and the rumblings were loud enough to warrant a personal visit from GM CEO Mary Barra.
In lesser reported news, however, Peugeot’s net has already been cast over a storied Indian nameplate — the Hindustan Ambassador.
After yesterday’s shocking news of a potential takeover of GM-owned Opel and Vauxhall by France’s PSA Group, General Motors CEO Mary Barra hopped on a plane to the Fatherland.
Given the sudden uncertainty surrounding a major employer, Opel’s works council, labor union and the German government staged a collective panic attack. Soothing words were needed, stat. Britain, home of Opel’s Vauxhall sister division, would also like to hear a few assurances of its own. (Read More…)
Maybe it’s leftover regional rivalry from generations past, or perhaps Germany just doesn’t want anything to affect its status as Europe’s financial powerhouse. Whatever the deep-seated reason, the residents of Deutschland are none too pleased about a possible French takeover of the Opel brand.
Earlier today, PSA Group, maker of Citroën and Peugeot vehicles, was revealed to be in serious talks to acquire the General Motors-owned automaker (as well as its Vauxhall sister company). Politicians and the head of Opel’s workers union apparently didn’t see this coming.
On the other side of the Maginot Line, the French seem just fine with the idea. (Read More…)
Last week, we kicked off this Rare Rides series with a shockingly wedge-y Ghia Probe, but that feels a little international, a bit foreign.
Let’s see a familiar brand from the good old USA
that’s never pretended to be international. It wears an Oldsmobile badge and stripes tinted with that familiar shade of Hurst gold.
Behold, the 1999 Oldsmobile Intrigue 442.
The Internet Car Enthusiast, or ICE (see what I did there?), is always telling us how they would purchase Vehicle X if it were only offered in a wagon variant. But because it invariably isn’t offered in a wagon variant, they purchase a Toyota Highlander or equivalent instead. Woe is the ICE and their lack of enthusiast vehicle choice!
Well, here’s your chance for a flight of fancy. I want you to tell me which wagon you’d choose if the Gods of Motoring smiled upon ye and provided you the wagon of your dreams.
Multiple media sources are reporting that an acquisition of General Motors’ European divisions by France’s PSA Group could occur within a matter of days.
Talks between GM and PSA, maker of the Peugeot, Citroën and DS brands, are reportedly at an “advanced stage.” If finalized, the deal would see GM shed the money-losing divisions it has owned for nearly a century. (Read More…)
The grim memories of 2008 and 2009 only plague Renaissance Center denizens in the form of night terrors now, as General Motors finds itself on financial ground that’s oddly solid, considering some of the factors effecting the company.
Faced with a slowdown in the automotive market in 2016, the automaker — like so many others —boosted incentives on its vehicles. Meanwhile, the U.S. public’s insatiable thirst for SUVs and crossovers left some of the General’s cars high and dry, sending inventories soaring to very unhealthy levels. While new crossovers were in the pipe in 2016, those lucrative models weren’t scheduled to land until this year. GM’s European division, meanwhile, struggled to rise out of the red.
Despite all of this, the company posted record income and revenue in 2016, according to an earnings report released today. (Read More…)
Longer, sleeker, and lighter than before. That’s the gist of General Motors’ next-generation Opel Insignia, the Euro midsizer that provides the template for Buick’s upcoming Regal.
Long in the tooth and a little cramped, the Regal is poised to shed its cloak of invisibility by adopting the Insignia’s E2XX platform and most of its styling cues for the 2018 model year. Expect greater interior volume, up to 440 pounds of weight loss, and an available V6 powerplant.
Oh, and expect a wagon, according to a TTAC source. And not just any wagon — a faux crossover that GM, crossing its fingers, hopes can lure buyers away from the overstocked buffet of lifted utility options. (Read More…)
There’s no hurt feelings like a city council’s hurt feelings.
Oshawa, Ontario, home to TTAC’s managing editor and General Motors Canada headquarters, is feeling a little invisible after an invite delivered last June to GM CEO Mary Barra failed to result in a visit.
The invite came at the onset of tense Detroit Three labor contract negotiations, when it seemed like Oshawa’s assembly plant was living on very borrowed time. Ultimately, the plant was granted a reprieve, though the city remains nervous about the long-term viability of the plant and GM’s commitment to it.
After seven months of being the wallflower at the dance, city councilors want some up close and personal face time. (Read More…)
The compact Chevrolet Cruze will get more time off this year, which isn’t something the people who build it want to hear.
According to The Detroit News, General Motors is planning to add “several weeks” of downtime at its Lordstown, Ohio assembly plant as the once hot-selling passenger car market takes an ice water bath. The plant saw a third production shift cut last month, impacting 1,200 line workers.
This latest news comes at an ominous time for builders of traditional cars. (Read More…)