GM Abandons European Market - Sells EU Division To Peugeot

General Motors on Monday said it has agreed to sell its European business Opel for EUR2.2 billion ($2.33 billion), as the U.S.'s biggest auto maker withdraws from a region where it hasn't made money for almost two decades.

Peugeot SA will pay EUR1.3 billion for GM's Opel and Vauxhall brands, the companies said Monday. GM's financial operations will be jointly acquired by Peugeot and BNP Paribas SA for about EUR900 million.

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PUGPROUD - 3/6/2017 3:47:42 PM

+2 Boost

Whose going to design Buick's now?

MDarringer - 3/6/2017 8:37:18 PM

-1 Boost

Given how dull and lifeless the Opel Buicks have been...good riddance.

Vette71 - 3/7/2017 11:20:06 AM

+2 Boost

China.

MDarringer - 3/6/2017 8:41:24 PM

0 Boost

There is a theory that GM is dumping Opel in order to partner up with a winner.

Hyundai-Kia and GM could be a good match with their holdings in Korea, production in Europe, and ambitions in China. Moreover, Chevys could easily be produced by H-K for Europe. Oddly, VWAG + GM could be clever too.

Then again, the EU is heading for implosion so even if they don't team up, they got out before the fascist liberals running France and Germany send Europe in the the toilet economically.

nguyenvuminh - 3/7/2017 1:35:30 AM

+4 Boost

Over the last year, you have suggested Hyundai/Kia is the one to save FCA, to buy Mazda, to partner up with GM, to kick Honda and Toyota, to battle BMW, etc. Why don't you tell your beloved Hyundai/Kia to improve their financial result by selling more cars first. They can start by getting rid of asshole dealers like yourself.

Terry989 - 3/7/2017 2:33:51 AM

+2 Boost

Matty is not a dealer (except for Meth), he is a used cars salesman, ands a piss poor one at that. As you can see by his replies he has zero understanding of the car industry as he is out making his welfare babies in between his KKK meetings.

MDarringer - 3/7/2017 8:27:22 AM

-1 Boost

@nguyencivicsifanboy
There are some synergies that can be had as the number of manufacturers worldwide needs to consolidate down.

@Terry989 Wy be wasis, yo?

Terry989 - 3/7/2017 11:05:48 AM

+2 Boost

Matty - - - Wy be wasis, yo shitstain? #BanMattTheShitstain