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PSA Eyes Big Savings in Potential Opel Deal

Negotiations on sale are ongoing.

by on Feb.24, 2017

PSA CEO Carlos Tavares believes the acquisition of Opel could net $2 billion in savings.

PSA Group’s proposed acquisition of Opel would create savings of as much as $2 billion from the General Motors’ European division’s turnaround, the French carmaker’s Chief Executive Carlos Tavares said during a session with reporters and analysts.

Tavares said adding the German Opel and British Vauxhall brands to PSA’s portfolio would bring new customers to the company who have been reluctant to buy French cars, Tavares told said, while generating savings from shared technical underpinnings.

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“There is significant complementarity in terms of customer consideration between the German Opel brand and our three French brands,” Tavares said, referring to the French group’s Peugeot, Citroen and DS badges. (more…)

Q&A: GM Chairman Fritz Henderson

“A fervent desire” to pay back taxpayers for bailout.

by on Nov.05, 2009

General Motors CEO Fritz Henderson is out to prove the critics wrong and pay back the billions in bailout money loaned by the U.S. Treasury.

General Motors CEO Fritz Henderson is out to prove the critics wrong and pay back the billions in bailout money loaned by the U.S. Treasury.

October proved to be an unexpectedly good month for General Motors, the carmaker posting its first year-over-year U.S. sales increase since early 2008.  In fact, things are looking notably better than the company anticipated when it emerged from its lightning dash through bankruptcy mid-year, said CEO Fritz Henderson.

But it’s also been a time of challenges and sudden, unexpected twists and turns, as was underscored by the GM Board’s decision to back out of the planned sale of a controlling interest in the German-based Opel subsidiary.

Your Auto Show News Source!

Your Auto Show News Source!

Those are some of the subjects Henderson touched on during a breakfast hour meeting at GM headquarters in the Detroit Renaissance Center, today.  But the conversation also touched on a subject that clearly motivates the executive as he plans for the automaker’s hoped-for revival: paying back the tens of billions of dollars provided GM by the U.S. Treasury in an unprecedented bailout.

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