Contributing Writer, GM-Trucks.com
General Motors has confirmed that it may leave the European market, or at least sell-off its European brand operations on the Continent. Media speculation of a sale of the Opel and Vauxhall brands. GM confirmed the speculation yesterday in a statement saying:
"Since 2012, General Motors and PSA Group have been implementing an alliance covering, to date, three projects in Europe and generating substantial synergies for the two groups. Within this framework, General Motors and PSA Group regularly examine additional expansion and cooperation possibilities, as well. PSA Group and General Motors confirm they are exploring numerous strategic initiatives aiming at improving profitability and operational efficiency, including a potential acquisition of Opel Vauxhall by PSA. There can be no assurance that an agreement will be reached."
PSA Group is best known for its Peugeot and Citroen brands and is based in France.
GM's China market operations have dominated its future plans. With a possible cross-border tax to contend with in North America, and the possibility of lower truck profits that could result, GM may be positioning itself to shed an under-performing part of its business to focus on core strengths.