Detroit Bureau on Twitter

Posts Tagged ‘psa news’

New Plan for Opel/Vauxhall Revival May Cost Jobs

CEO Lohscheller says all European plants getting updated.

by on Nov.09, 2017

Opel CEO Michael Lohscheller lays out the details for the company's plan, PACE!, to be profitable by 2020.

Opel/Vauxhall officials laid out the plans for the newly separated-from-GM company to be profitable by 2020 while implementing plans to electrify its product portfolio by 2024.

The plan, named PACE!, for profitability includes potential measures to eliminate redundancies with its new parent company, PSA Group. However, Opel/Vauxhall CEO Michael Lohscheller said the company plans to modernize each plant in Europe and allocation of new products will be determined based on plant performance.

Electrifying News!

“Our clear plan is to refrain from forced redundancies,” he said. “We want to keep and modernize every single plant in Europe.”  (more…)

GM Completes Sale of Opel/Vauxhall to France’s PSA

Detroit maker continues downsized focus on profitable markets.

by on Aug.01, 2017

PSA CEO Carlos Tavares and his GM counterpart Mary Barra celebrate the sale of Opel.

Moving faster than many expected, General Motors has completed the sale of its money-losing European operations to PSA Group, the French automaker’s chairman hailing “the birth of a true European champion today.”

The sale was announced last March and marked a major shift by General Motors away from being a global brand operating in virtually every possible market to one focusing on locales where it can be sure of turning a profit. The long-troubled Opel/Vauxhall unit had last operated in the black in 1999 despite repeated turnaround efforts.

Breaking News!

Itself running deep in the red until earlier in the decade, Parisian-based PSA, the parent of the Peugeot and Citroen brands, has delivered an unexpectedly strong turnaround of its own since the original Peugeot family gave up control of the company and Carlos Tavares was brought on board to run the company.

(more…)

France Expected to Ban Gas, Diesel Vehicles – But Not Until 2040

“A very difficult objective,” admits Environment Minister.

by on Jul.07, 2017

Even before the latest proposal, Paris was considering a ban on diesel vehicles.

France could become one of the first countries to ban the sale of vehicles running on fossil fuels, the country’s Environment Minister this week proposing a complete transition to zero-emissions vehicles.

But it won’t happen quickly, Nicolas Hulot’s plan expected to take until 2040 to roll out. And the minister admitted the “revolution” he is proposing would create some serious challenges for the auto industry. It does help that both French-based automakers have already made major commitments to shift to electric propulsion.

The Last Word!

A number of countries are focusing on alternative powertrain technologies, ranging from hybrids to pure battery-electric vehicles, or BEVs, as well as hydrogen fuel-cell vehicles. That includes China, the world’s largest automotive market. But none have yet gone as far as to actively consider plans to eliminate gas and diesel vehicle sales entirely.

(more…)

PSA Group Partnering with nuTonomy in Singapore

Boston-based company aims to help PSA with autonomous technology.

by on May.09, 2017

PSA Group is partnering with nuTonomy to develop autonomous vehicles. They will test the Peugeot 3008 in Singapore.

The French automaker PSA Group and nuTonomy of Boston, Massachusetts, a developer of software for self-driving cars, have formed a strategic partnership for testing autonomous vehicles on roads in Singapore.

During the initial phase of the partnership, nuTonomy will install its software, along with specialized sensors and computing platforms, into Peugeot 3008 vehicles that have been customized by PSA’s innovation teams.

Tech News!

Anne Laliron, head of the Business Lab, PSA Group, said, “This collaboration is a significant step towards fully autonomous vehicles, which will enable us to offer different mobility solutions to our customers. We are excited to work together with nuTonomy’s team of software and robotics experts to make the concept of self-driving PSA cars more and more concrete.” (more…)

Exclusive: PSA Planning “3-Phase” Return to U.S. Market

U.S. assembly plant a long-term possibility.

by on Apr.07, 2017

PSA's new US chief, Larry Dominique previously served as top US product planner at Nissan.

With the launch of the new Travelcar car-sharing service in Los Angeles, French automaker PSA has made its first tentative step back into the U.S. market since the Peugeot brand pulled up stakes in 1991.

The modest project is part of a “three-phase approach” that will eventually see PSA start selling cars in the United States, Larry Dominique, an auto industry veteran and the new North American head of PSA operations, told TheDetroitBureau.com, in an exclusive interview.

Beyond the Headlines!

How soon you’ll see any of the PSA brands on dealer lots – indeed, whether the French company will rely on a conventional distribution model in the U.S. – hasn’t been determined yet, Dominique cautioned. With the launch of Travelcar, PSA begins exploring a number of options that could eventually include the establishment of an American manufacturing presence.

(more…)

PSA Makes Tenuous Return to U.S. After 26-Year Absence

French maker intros L.A. carsharing service; aims to start selling Peugeots, Citroens again.

by on Apr.06, 2017

Free2Move gives PSA an opportunity to start building a base in the U.S. before launching sales.

You can’t buy a Peugeot or Citroen in the U.S. But you might soon be able to drive one. PSA, the parent of those two French brands, has launched a new car-sharing service in Los Angeles, called Free2Move, that it’s billing as its “first step” for what may soon become a return to the American market.

PSA was one of a number of European brands that left the U.S. in the 1990s, and the company has openly regretted that decision ever since, frequently suggesting it would make a return. Now, the groundwork is being laid with the Free2Move project, which started up this week at LAX, Tinseltown’s crowded airport.

http://www.thedetroitbureau.com/about/subscribe

Breaking News!

Longer-term, said PSA Group in a statement, the goal is “to develop mobility solutions with PSA Group’s cars, before marketing vehicles directly in North America.” No timetable for the next phase of the project has been released.

(more…)

PSA Purchasing Opel for $2.5B

But GM will remain on the hook for up to $4.5b in pension liabilities.

by on Mar.06, 2017

The ldeal between PSA Group and General Motors was sealed with a handshake between PSA chief Carlos Tavares and GM Chairman and CEO Mary Barra.

This story has been updated with additional information.

General Motors Co. and PSA Group have agreed to a deal in which the French automaker will take over GM’s long-struggling Opel/Vauxhall subsidiary, as well as the Detroit maker’s European financial operations for 2.2 billion euros or $2.5 billion.

For GM, deal ends the company’s long history in Europe, stretching back to the Opel acquisition in 1929. However, it doesn’t completely end the massive losses that have piled up for Opel since it last went into the black in 1999. As part of the deal, GM will retain all of Opel Vauxhall’s pension liabilities and is expected to take a $4 billion to $4.5 billion one-time charge once the deal closes later this year.

Subscribe Now!

While it ends GM’s long legacy as a truly global automaker, the sale will allow the Detroit carmaker to more fully focus on its two key markets: the U.S. and China. For PSA – which pulled out of the North American market a quarter century ago, the acquisition transforms it into Europe’s second-largest automaker, with a 17% market share, behind only the Volkswagen Group. (more…)

GM Hoping to Close Opel Sale Before Geneva Motor Show

Deal would create Europe’s second-largest automaker.

by on Mar.03, 2017

PSA CEO Carlos Tavares believes the acquisition of Opel could net $2 billion in savings. The two sides are racing to close the deal, perhaps before Geneva.

General Motors and France’s PSA Group are racing to close the sale of the U.S. maker’s Opel unit, possibly before the opening of the Geneva Motor Show next week, according to various sources and European news reports.

The move, if it can be completed, would transform a revitalized PSA – parent of the Peugeot and Citroen brands – into the Continent’s second-largest automaker behind Volkswagen Group. For GM, it would allow the maker to walk away from a long-troubled unit that hasn’t posted a profit since 1999, despite repeated turnaround efforts.

Financial News!

GM CEO Mary Barra said virtually nothing about the status of the negotiations during an appearance in Washington, D.C. earlier this week, and neither company has been willing to discuss the talks since then. But a meeting between PSA management and European labor officials is scheduled for next week, according to a Bloomberg report, a strong hint that negotiators are optimistic about clinching an agreement by then. (more…)

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.

News Now!

“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…)

GM Stock Could Pop on Opel Sale

Sale of unprofitable business could net shareholder windfall.

by on Feb.20, 2017

Mary Barra, GM chairman and CEO, met with leaders in Germany to assuage concerns about the potential sale of Opel to PSA.

Shareholders reacted skeptically to last week’s announcement that General Motors was in discussions to sell off its money losing European operations anchored by the Opel and Vauxhall brands to the Paris-based PSA Group.

But the weekly financial magazine Barron’s gave the proposed sale of Opel a boost when it said GM’s share could increase in value by as much as 35% if the deal was finalized and GM succeeds in finishing the sale.

Global Auto News!

If the deal goes through, it could net GM as much as $1 billion in cash, Barron’s says, citing analysts. However, the real value from the sale would come from offloading a money-losing business and refocusing on operations in China, Latin America and North America, it said. (more…)