Author: Automotive News n Feed

GM executives said they decided to sell Opel because Europe’s changing geo-political and regulatory climate demands more investment at a time when they see a greater need to focus on North America, China and emerging technologies.

PSA’s agreement to buy GM’s Opel unit in a transaction valued at 2.2 billion euros ($2.

PSA’s agreement to buy GM’s Opel/Vauxhall unit in a transaction valued at 2.2 billion euros ($2.

A chronology of Opel’s history and its sale to PSA Group.

A chronology of Opel’s history and its sale to PSA Group.

PSA agreed to buy GM’s Opel unit for 2.2 billion euros ($2.3 billion). The French automaker vowed to return Opel and its UK-based sister brand, Vauxhall, to profit with an operating margin of 2 percent within three years and 6 percent by 2026.

PSA has agreed to buy Opel from GM in a deal valuing the business at 2.2 billion euros ($2.3 billion), the companies said on Monday, creating a new regional car giant.

Jody DeVere, CEO of AskPatty.com, says her passion for the auto industry started early#8212;growing up in Southern California’s car culture, being raised by an engineer father and marrying into an automotive family.

After years of hand-wringing on the part of automakers and dealers, the results are finally in: Millennials — wait for it — also like to buy new automobiles.

PSA Group has purchased the loss-making European arm from a U.S automaker before. It didn’t go well.