General Motors gets 2.2 billion

Detroit/Paris, 6 March 2017

The acquisition of Opel and Vauxhall by the French PSA group is perfect. General Motors receives 2.2 billion euros for his daughter, as the two now in unison report group. Exploratory talks to the takeover were confirmed on 14 February 2017.

Tavares: "the right partner"

"We have developed together excellent products for the European market," said PSA Chairman Carlos Tavares. "Therefore we know that Opel/Vauxhall is the right partner. We are confident that the turnaround accelerated by Opel / Vauxhall with our support. At the same time, we respect the obligations which entered to the employees of Opel / Vauxhall with GM", so next Carlos Tavares.

Synergy proceeds totalling 1.7 billion

The PSA group, the brands include Peugeot, Citroën and DS, the takeover is the second largest car manufacturer in Europe behind Volkswagen. The acquisition "economies of scale and synergies in the areas of purchasing, manufacturing and research and development aimed at." Until 2026, savings of 1.7 billion euros to arise, so GM. Moreover, Opel to come back into the sphere of profit. A margin is expected two percent by 2020 and by six per cent of up 2026. GM wants the sale of Opel strengthen its core business and release resources for future technologies, so the group. GM partly together with PSA want to work with. PSA will possibly take fuel cell systems from a GM/Honda joint venture.

License fees for Ampera-e

Also the fate of common models has been clarified. So must sell Opel as planned the Ampera e (identical with the Chevrolet bolt) from summer 2017, must pay royalties for this, the Frankfurter Allgemeine Zeitung in an online article reported today, Monday.

Is Chevrolet upgraded again?

The more Europe strategy by GM remains unclear. The group is represented by the Opel sale only by little revenue-generating brands such as Cadillac and Chevrolet in Europe. This limited to Chevrolet on the sports car Camaro and Corvette extended to other models would be conceivable. It remains exciting what saving measures PSA will take. The setting of Opel shop keepers such as combo or Cascada would be possible. PSA page especially booking models like the Peugeot 508 of the Citroën C5 and DS 5 sell poorly in Germany.

90 era comes to an end

With the sale of Opel is a 90-year old era to an end. 1929 sold the sons of Adam Opel, founder of the company 80 percent of the company recently converted to a joint stock company to General Motors, the rest of the shares followed a few years later. The looming global economic crisis was the main reason for the sale. (sl)