Published on February 15th, 2017 | by Daniel Sherman Fernandez0
Opel & Vauxhall for sale and PSA looks keen
French car manufacturer PSA Group who is currently in talks with Malaysian owned Proton for a buy-in, has just confirmed that it is also exploring a possible acquisition of General Motors’ European Opel division, a deal that would include the British owned car brand Vauxhall.
The two companies have worked together since PSA acquired a smaller stake in GM’s European operations which has resulted in several joint projects, most recently in the form of platform-sharing between the upcoming Citroen C3 Picasso and Vauxhall Crossland X.
If PSA was to buy Opel in its entirety, the conglomerate would account for 16% of all cars sold in Europe, making it the second-largest manufacturer by volume after Volkswagen Group.
Clarifying its position, PSA Group commented: “General Motors and PSA Group regularly examine additional expansion and cooperation possibilities.
General Motors has attempted to sell Opel-Vauxhall before after the financial crisis in 2009, when it terminated or sold many of its loss-making brands, including the Saab brand.