Opel officially joins PSA Peugeot Citroen Group

(Michael Lohscheller and Carlos Tavares) After nearly nine decades, during which it was owned by General Motors (GM), the German automobile brand Opel is joining the PSA Peugeot Citroen Group. The agreement signed between GM and PSA in March has now been finalized, and Opel, along with its sister company, the UK-based Vauxhall, has officially joined brands such as Peugeot, Citroen and DS.

– It is a historic day. We are proud to join PSA and are now opening a new chapter in our history after 88 years with General Motors – stated Michael Lohscheller, CEO of Opel.

He emphasized that Opel would continue developing technologies “Made in Germany” and that the situation would not change in that regard with the arrival of the new owner. Lohscheller announced that the goal was to return Opel and Vauxhall to profitability by 2020, Opel said in its press release.

– We are witnessing the birth of a true European champion today – PSA chairman Carlos Tavares stated and added that the French automobile giant would assist Opel and Vauxhall’s return to profitability.

According to him, Opel will remain German, and Vauxhall will remain a British automobile brand, as they fit perfectly into the portfolio of French brands Peugeot, Citroen and DS as such.

Following the merger, the PSA Group now has a 17% share in the European market and is the second biggest car manufacturer in the Old Continent, after Volkswagen, Opel's press release adds.

Predstavništvo Opel Southeast Europe LLC Beograd

PSA Peugeot Citroën PARIS

General Motors Corporation

Volkswagen AG Wolfsburg

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Michael Lohscheller

Carlos Tavares

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