New owners for Vauxhall Opel? | Industry - Car News Feb 2017

INDUSTRY

15:24 Wednesday 15 Feb 2017

Vauxhall could have new owners if General Motors goes ahead with plans to offload its loss-making European operations.

A statement released today by PSA Group – owners of the Peugeot, Citroen, and DS brands – said the company “is exploring numerous strategic initiatives aiming at improving its profitability and operational efficiency, including a potential acquisition of Opel”. PSA Group has a history of co-operation with General Motors, who manufacturer vehicles in Europe under the Opel and Vauxhall banners.

In their statement, PSA Group stressed that there could be no assurance that an agreement would be reached, and no details were included as to the potential effect on Vauxhall operations in the UK.

 

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