General Motors looks to sell loss-making Vauxhall and Opel

[muriel_volestrangler]

General Motors is in talks to sell its European arm Opel, which includes the UK’s Vauxhall, to the company behind Peugeot, after branding Brexit a “speed bump” that was slowing efforts to turn the loss-making division around.

GM and France’s PSA Group, which also owns Citroën, said they were discussing “numerous strategic initiatives ... including a potential acquisition of Opel”.

The admission prompted calls for GM to clarify the future of its Vauxhall plants in Luton and Ellesmere Port in Cheshire, which together employ around 4,500 staff.
...
It had hoped to break even by now, but posted an annual loss of $257m (£206m) for 2016 earlier this month.

https://www.theguardian.com/business/2017/feb/14/general-motors-sell-vauxhall-opel-psa-citreon-peugeot

It's surprising how far down the news agenda this is in the UK. Once this would have been the headline of the day. But 4,500 employees is far below what it used to be.

[bunnies]

1. I loved my Opel GT.

Almost as much as my Datsun 240z. I honestly didn't know Opel was still around.

[muriel_volestrangler]

2. sold over 1.1 million vehicles in Europe in 2015

http://media.opel.com/media/intl/en/opel/news.detail.html/content/Pages/news/intl/en/2016/opel/01-08-best-european-sales-results-since-2011.html

[bunnies]

3. Wow!

I hope they survive. They need to bring th GT back. That car was fun as hell.