Industry shake-up: PSA wants to buy Opel from General Motors

We woke up to this news, which will certainly be an earthquake in the automotive industry. If all goes well, a major change will take place very soon at one of Europe’s most important brands, moving from one powerful group to another, which will end up becoming the second-largest car group in Europe. The thing is, PSA is in negotiations with General Motors to buy its business in the European market, including in that package the Opel and Vauxhall brands, which is how this marque is known in the UK market.

Both companies have confirmed this, announcing that they are in negotiations to carry out this sale and purchase, but nothing is yet closed. I suppose now comes the negotiating stage, with an exchange of offers and demands from both sides to reach a final agreement.

This is not the first time the two groups have worked together, as they have developed a model together and even during 2013 attempted a merger, which never came to fruition. Nevertheless, a basis was created for collaborating jointly and aligning the interests of both until the conclusion of this agreement.

PSA’s brands include Citroën, Peugeot and DS, so adding Opel and Vauxhall to the group would leave it second only to Volkswagen in Europe, with a market share of 16%. This decision has been taken by General Motors, which intends to leave the European market. Presumably, the expected exit of the United Kingdom from the European Union, the controversial Brexit, has had a lot to do with it. For its part, PSA will benefit from this move and acquire a brand with a good reputation and prospects. Will we see how this agreement takes shape in a few days? We will be watching.

Source | Autoexpress