Now Opel has officially belonged to PSA

Rüsselsheim, 1. August 2017

In the German automotive history a new Chapter has been added: The sale of Opel (and UK sister brand Vauxhall) to the PSA group (including Peugeot and Citroën) is completed.

New Opel-mom after 88 years

Michael Lohscheller, the new Opel CEO, is optimistic: "This is a historic day. We are proud to be part of the PSA group. After 88 years at General Motors, we are now proposing a new Chapter in our history. We have set ourselves the clear objective to be, by 2020, at a profit again." Thus, Lohscheller speaks to the essential point of the Takeover. PSA pop followed hard financial targets: in addition to a positive cash flow, this is primarily an operating profit of two per cent by 2020, and to six per cent by 2026. The economies of scale in purchasing, manufacturing, and other areas are estimated to be EUR 1.7 billion.

The new Corsa comes 2019

The market share of the increased PSA group is Europe at 17 percent. This is now the second largest car manufacturer in Europe. PSA and Opel/Vauxhall have been working together since 2012, the most recent results of the Crossland X and the Grand country X. in 2018, the successor to the Opel Combo. He is so far a Fiat-derivative, and is then based on the successors of Peugeot Partner and Citroën Berlingo. 2019 is the next Generation of the Opel Corsa follows with the letter F. it shares the technology with the upcoming Peugeot 208.(rh)