PSA Group agreed to buy General Motors Co.’ s Opel unit in a transaction valued at 2.2 billion euros , creating Europe’s second-largest carmaker in a bid to better compete in the region’s saturated market.
Category: General Motors
GM’s Deal To Sell Opel Unit Firms Up
A deal for General Motors Co. to sell its Adam Opel AG European business to French car maker Peugeot is expected to be announced Monday, according to two people familiar with the plan.
PSA Ready for `Opportunities’ as Profit Gain Helps Opel Stance
PSA Group declared itself ready to take on challenges like acquiring General Motors Co.’ s struggling European operations as a successful revival bolsters the French carmaker’s finances and profitability.
PSA’s Profit Jump Bolsters Peugeot Maker in GM Talks
PSA Group’s earnings jumped 18 percent last year, underscoring the French carmaker’s revival and buoying its efforts to buy General Motors Co.’ s struggling European operations.
Consumers Spend More Cash for New Cars in January
January is typically the slowest month of the year for new-vehicle sales, and a surprisingly robust December likely stole some thunder from the latest month. Detroit’s Big Three all reported declines in January U.S. sales versus last year.
Auto Investors Keep Calm and Carry On Through Trump Tweets
The first full month of the Trump presidency signals uncertainty for the auto industry, but risks are event-focused, not policy-based. The first full month of the Trump presidency signals uncertainty for the auto industry, but the risks are event-focused, not policy-based.
Detroit’s Luxury Brands Cap Off Strong Year in Key Market
One way to do that is to expand luxury brands — Cadillac for GM and Lincoln for Ford. The good news is that while the automakers have had a tougher time gaining market share in the U.S., China helped send sales surging in 2016.
Detroit’s Luxury Brands Cap Off Strong Year in Key Market
One way to do that is to expand luxury brands — Cadillac for GM and Lincoln for Ford. The good news is that while the automakers have had a tougher time gaining market share in the U.S., China helped send sales surging in 2016.
Why This Analyst Raised General Motors’ Price Target
There hasn’t been a long list of analysts posting bullish notes on major automakers over the past year, due to the inevitable peaking of the U.S. new-vehicle cycle after the industry set sales records each of the past seven years. That’s why yesterday’s upgrade from Morgan Stanley analyst Adam Jonas, a highly respected analyst and longtime Tesla Motors bull, was a pleasant surprise for investors.
Why Smart Mobility Services Are a Smart Move for Automakers
As the U.S. new-vehicle cycle peaks, everybody seems to be a Debbie Downer when it comes to automotive stocks, and few seem to be looking for out-of-the-box upside to these stocks. That’s not stopping Detroit executive from pursuing future ideas, of course, and while industry folk havetouted the enormous potential for smart mobility projects that could eventually resemble services such as Uber — once valued at more than $60 billion — we haven’t touched on exactly why those projects will help automakers evolve.
GM Sees Higher Profit in ’17, Plans $5 Billion Buyback
General Motors Co. predicted profit will rise more than analysts estimate in 2017 after meeting the high end of last year’s targets, enabling the largest U.S. automaker to buy back an additional $5 billion in shares.
Detroit Wants Something From Trump in Exchange for Those Tweets
The way Bill Ford tells it, you’d think he and Donald Trump are like two old buddies chitchatting all the time about cars, economics and taxes. “When needed, I can always get to him or he calls me,” Ford, the chairman of Ford Motor Co., said in an interview Monday at the North American International Auto Show in Detroit.
Stocks Climb as General Motors, Ford Jump on December Sales
Stocks move slightly higher on Wednesday as Ford and General Motors rally following the release of their December sales performances. Stocks moved slightly higher on Wednesday as Ford and General Motors rallied following the release of their sales performances for December.
China Slaps GM With $29 Million Fine Amid Growing Tensions
China slapped a $29 million fine on General Motors Co. for antitrust violations, a sign of the growing tensions between the U.S. and the Asian nation The largest U.S. automaker is accused of setting minimum prices on some models in its SAIC General Motors joint venture.
GM, Fiat Chrysler Idling 7 Plants Next Month as Sales Slow
General Motors Co. will idle some production at five U.S. passenger-car plants in January while Fiat Chrysler Automobiles NV halts output for New Year’s week at two Canadian vehicle factories.