PSA Group finalise deal for Vauxhall and Opel 0

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The owner of Peugeot, the PSA Group, has finally completed its long running takeover of General Motors’ European brands, Opel and Vauxhall. New management has been appointed to plot the attempted turnaround of the brands’ fortunes.

The deal was agreed in principal back in March, when PSA agreed a deal to buy Opel from GM. In July, the European Commission gave its approval to the acquisition after deciding the deal would present no concerns to competition.  

The PSA Group, which is based in France, said in a statement that a new company direction plan would be presented within 100 days. Opel has been working at a loss for years, 2020 has been earmarked as the year the brand returns to profit.

PSA Chairman Carlos Tavares insisted that “Opel will remain German, and Vauxhall will remain British.”

The deal means that the PSA Group are now Europe’s second largest car maker, behind Volkswagen.

Product wise, future Opel and Peugeot models will share platforms and tech. Opel’s latest crossovers, the Crossland X and Grandland X are already based on the Peugeot 2008 and 3008 respectively, due to previous deals between GM and PSA.

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