Groupe PSA announces the closing of the acquisition of Opel and Vauxhall, announced on 6 March 2017.
The new Group positions Groupe PSA in second place in Europe with a market share of 17% in the first half of 2017. Michael Lohscheller, CEO of Opel/Vauxhall will present the strategic plan drawn up by the Opel / Vauxhall teams with the support of Groupe PSA in 100 days.
With five complementary, well-positioned car brands, Groupe PSA will strengthen its presence in the major European markets and this will serve as a basis for profitable growth worldwide.
Opel and Vauxhall are committed to building a strategic plan with Groupe PSA’s support, aimed at re-establishing economic fundamentals.
The closing of this transaction marks a major step in Groupe PSA’s development, which it has been possible to take thanks to the strong commitment of the teams involved.
Carlos Tavares, Chairman of the Managing Board of Groupe PSA, comments:
We are embarking today with Opel and Vauxhall on a new stage in Groupe PSA’s development. This project became a reality with a few months only, thanks to the outstanding work of the teams and I want to thank them warmly. We will grasp this opportunity to build on one another’s strengths and to attract new customers, thanks to the implementation of the performance plan that Opel and Vauxhall will implement. In parallel, the execution of the Push to Pass plan remains a top priority for the teams, they are focused on achieving the objectives. We have confidence in the momentum that these strategies will create, to the benefit of all stakeholders.