Opel Is Now Officially Part Of The PSA Group

Moving a major automaker out from under one group’s umbrella to another doesn’t happen overnight, but five months is pretty darn quick. That’s all the time it’s taken to complete the transfer of Opel from the General Motors to the PSA Group.

In a deal first announced just this past March, GM has sold Opel – which has served as its European division since 1929 – to PSA, the French auto group that already encompasses the Peugeot, Citroën, and DS brands. The addition of the Opel and Vauxhall marques brings the portfolio up to five brands.

“It is a historic day,” said Opel CEO Michael Lohscheller. “We are proud to join Groupe PSA and are now opening a new chapter in our history after 88 years with General Motors. We will continue our path of making technology `made in Germany´ available to everyone.”

Following regulatory approval from the European Union last month, PSA becomes the second largest automaker in Europe (behind Volkswagen), with 17 percent combined market share. Its largest shareholders remain the Peugeot family, the French government, and Chinese automaker Dongfeng, each of which holds 13.68 percent in the company.

The announcement includes four new appointments in Christian Müller (VP engineering), Rémi Girardon (VP manufacturing), Philippe de Rovira (CFO), and Michelle Wen (VP purchasing and supply chain).

“We are witnessing the birth of a true European champion today,” said PSA chairman Carlos Tavares. “Opel will remain German, Vauxhall will remain British. They are the perfect fit to our existing portfolio of French brands Peugeot, Citroën and DS Automobiles.” GM President Dan Ammann called the sale “another bold step” to enable the American giant to “sharply focus our resources on higher-return opportunities as we expand our technical and business leadership in the future of mobility.”

The only part of the equation still up in the air is the transfer of GM’s European Financial arm, which will be jointly acquired by PSA and banking giant BNP Paribas later this year, pending regulatory approval.

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  • Mind Synthetic

    now kill Buick in US and give it to china, and inject Buick resinous in the us a ho into Chevy brand, job done

    • brn

      That makes no sense.

  • Kaisuke971

    Now it’s time for PSA to revive a sport car brand, Alpine is back but it has to be just the beginning !

  • Bailout Completely Wasted

    Another GM fallout owed to the fact that GM doesn’t know WTF they are doing. Don’t buy any Buick model based on Opel as GM will now start its typical BS about fixing and finding important parts you’ll need (e.g. body parts) and you’ve just inherited Kamikaze residual value.

    As someone above mentioned, “kill Buick”—now, more than ever. Give it to China as stated. In fact, GM can disappear altogether in the States.

    • Ilbirs

      I still think that there’s something in GM’s current administration that is being hidden from the big audience. In this year Opel/Vauxhall was sold, meaning now that the group is outside Europe. Then we know that Indian operation will be exclusively directed to exports and the South African one will be shut. What next will happen to this automaker that used to be the biggest in the world but in recent years is giving us a lot of bad news?

    • Vasilescu Petru-Ionut

      Few years ago, GM pulled the plug on Chevrolet Europe, when it reached a consistent market share and profit, after many years of investment and advertising, just because Chevrolet was “cannibalizing” Opel sales… LOL !

      • Julio Fernandez

        I purchased the first volume of your Car Encyclopedia and get really impressed. As I read your project is “complete” now but still waiting for the following volumes. Could you please contact me for details to my email
        [email protected]

  • EddyCj

    Good that Opel got saved, too bad Saab didn’t had this fate…

  • Marcos Drawer

    I can’t imagine an possible new Opel Astra like a Peugeot 308 rebadged… let’s wait… I hope be wrong…

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