General Motors (GM) has sold their European unit of Opel and Vauxhall brands for 2.3 billion euros after almost 20 unprofitable years for the U.S. auto giant with France’s PSA Group to take on the brands. By acquiring Opel, the French group will rival Renault to become Europe’s second-largest carmaker after Volkswagen Group. The two carmakers already share some manufacturing in an existing European association.

News of the acquisition has sparked fears of potential job losses at Vauxhall’s and Opel’s plants which employ over 25000 workers.

 

 

 

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10 Comments on "General Motors (GM) Sells Opel and Vauxhaull to Peugeot’s Owner (PSA Group)"

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Maury Cheskes
Guest

Interesting. That’d be a real shame if there were job losses in Opel’s automotive industry. It’s nice to see that France is pushing the market though in automotive technology.

Kyle
Guest

I’m shocked but I totally understand GM’s decision. I guess that’s how businesses work. Opel and Vauxhall didn’t generate much revenue for GM so they had to be let go.

Nicola
Guest

This one made headlines. Job losses is inevitable in takeovers. I reckon the PSA Group will do a better job in making these Euro cars profitable again.

Kyo Kusagi
Guest

I am not aware that Euro cars has been on a crisis. Good thing this article brought it up.

Rebi
Guest

Good thing they have survived for that long crisis they’ve been enduring.

Kristin Mosh
Guest

I very much hope that this sale doesnt cause job loss for the employees. In this economy its a scary thought. Im surprised they were able to hold on for 20 years of unprofitability though. Sounds like it was high time for a big change.

Charles
Guest

The company lasted 20 years being unprofitable?! How?! Well, whichever the case, the move is probably the best thing the company could do. Hopefully the majority of the 25000 people who will be employed are from the old company.

Raphael Fabella
Guest

Plenty of companies make sacrifices to keep themselves afloat in the business industry. If GM did what they thought was right for them, then who are we to complain about their decisions?

Jim
Guest

Guess with all great things comes some negatives. Sorry to hear about all those people who will lose their jobs. Hopefully they’ll find something else to sustain them.

Lilliane Sims
Guest

After 20 unprofitable years, I don’t blame GM for selling out. They had to do what they had to do.

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