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© GRAPHIC NEWS

© GRAPHIC NEWS

© GRAPHIC NEWS

Graphic shows European PSA-Opel workforce and 2016 sales of Europe’s largest car manufacturers compared to new PSA-Opel brand.
GN35170EN

BUSINESS

PSA to buy GM’s European brands

By Duncan Mil

March 6, 2017 - French car maker PSA, owners of Peugeot and Citroën, has agreed to buy General Motors’ lossmaking Opel division in a deal valued at €2.2 billion, creating Europe’s second-largest carmaker after Volkswagen.

PSA sold 1.47 million light vehicles in Europe last year accounting for 9.2% of the market, a distant third to VW at 3.56 million registrations and more than 22% of industry sales, according to ACEA data. Renault-Nissan was No.2 at 1.51 million units and a 9.4% share.

Link to ACEA report

The PSA-Opel consolidation would net annual sales approaching 2.5 million units and more than 15% of the market, an overnight gain that puts it fast on the heels of VW and gives PSA greater access to the most profitable markets of Germany and the UK.

Sources
PUBLISHED: 06/03/2017; STORY: Graphic News
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