BREAKING BLOG NEWS!
This morning PSA group have announced that they will buy Opel and Vauxhall from GM.
The PSA group will become the second largest automotive company in Europe. They will have a market share of 17%.
The whole deal is said to cost PSA group €2.2 Billion.
“We are proud to join forces with Opel/Vauxhall and are deeply committed to continuing to develop this great company and accelerating its turnaround,” . “We respect all that Opel/Vauxhall’s talented people have achieved as well as the company’s fine brands and strong heritage”. “We intend to manage PSA and Opel/Vauxhall capitalizing on their respective brand identities”. “Having already created together winning products for the European market, we know that Opel/Vauxhall is the right partner”. “We see this as a natural extension of our relationship and are eager to take it to the next level.”
said Carlos Tavares, chairman of the Managing Board of PSA.
We Blog Any Car thoughts………….
This is automotive car consolidation on a massive scale.
If the PSA group (who know how to do business in Europe) pump big money into Opel Vauxhall, share technologies and platforms… and the new car sales picture starts to look better in Europe, life could be good for all parties.
I am optimistic with the deal.
Time will tell!!
News Blog by Lavon.
We Blog Any Car is a 2017 UK Blog awards finalist.