• Sign in to follow this  
    Followers 0

    Rumorpile: Is There More To The GM-PSA Deal?


    William Maley

    William Maley

    Staff Writer - CheersandGears.com

    October 14, 2012

    When General Motors and PSA/Peugeot-Citroen announced their alliance back in February, questions were brought up of what this deal would bring and if there was more this to the deal.

    This past week, French Newspaper La Tribune reports that the two companies have been in talks to possibly extend their partnership to a 50/50 deal, with General Motors adding more cash. Neither company commented when asked.

    Reuters has learned from one of their sources that the two companies has discussed "selling Opel to Peugeot, buying Peugeot's automotive business or putting them all together in a new entity."

    The first two options are good only for the seller since that would let them walk away from the mess. The third option is an unknown at this point.

    Source: Reuters

    William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.

    0


      Report Article
    Sign in to follow this  
    Followers 0


    User Feedback


    Not a bad way to get out of some poor contract issues by selling it to peugeot and then buying peugeot to get rid of some union issues, close down poor performing plants and reduce costs to survive.

    0

    Share this comment


    Link to comment
    Share on other sites

    What is right for GM is to kick Opel to Peugeot for as much as possible, bring the tech back to Detroit, take the cash and go home. The European car market is in freefall and is not fixible until real economic changes are made, struggled through and then growth returns. For the Continent, that could be several years from now. GM's long continental nightmare that is Adam Opel/Vauxhall must end ASAP.

    1

    Share this comment


    Link to comment
    Share on other sites
    What is right for GM is to kick Opel to Peugeot for as much as possible, bring the tech back to Detroit, take the cash and go home. The European car market is in freefall and is not fixible until real economic changes are made, struggled through and then growth returns. For the Continent, that could be several years from now. GM's long continental nightmare that is Adam Opel/Vauxhall must end ASAP.

    I would agree with that, bring the tech and the sweet Adam in CNG form back to the US and let the freefall happen and then go back in with superior products and fresh plants that are not the socialist mess they took on.

    0

    Share this comment


    Link to comment
    Share on other sites

    I don't really see the fit between those two. Looks like a way to dump Opel without dumping the Rüsselheim engineering assets, or a way to waste large sums of money in M&A Advisory from some Investment Bank...

    0

    Share this comment


    Link to comment
    Share on other sites


    Your content will need to be approved by a moderator

    Guest
    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   You have pasted content with formatting.   Remove formatting

    ×   Your link has been automatically embedded.   Display as a link instead

    Loading...

  • Popular Stories

  • Today's Birthdays

    1. Iononic Boy
      Iononic Boy
      (32 years old)
    2. mjdart
      mjdart
      (62 years old)
  • Similar Content

    • By William Maley
      Automakers have a number of projects that never see the light of day. But sometimes, a shelved project will be revealed and cause many to wonder 'what if?'
       
      News.com.au reports a new book out next month says Holden was working on a top secret electric supercar that would have been faster than Bugatti Veyron. But this project was canned in 2008 as the global financial crisis began to take hold. The new book - Holden: Our Car - says Holden did the design and engineering work before presenting it to executives in Detroit.
       
      Images from a video touting GM's global design showed a Holden supercar with gullwing doors and profile similar to McLaren 570S. According to sources, the vehicle would pay homage to the The images made their way onto the web before being pulled down. Power would come from two electric motors and be paired with all-wheel drive system. The 0-100 kph (0-62 mph) time would have been 2.3 seconds.
       
      Holden is said to have produced a full-size concept in 2008 and presented it to a GM management conference in Florida a year later. The plan was to sell the vehicle globally as a Cadillac, Chevrolet, Holden, and Opel. Before the plug was pulled, Holden was talking with suppliers about batteries and other components.
       
      To this day, Holden has denied that such a car existed.
       
      Source: News.com.au
    • By William Maley
      Volkswagen is facing criminal charges over the diesel emission scandal in the U.S. The Wall Street Journal reports that investigators from the U.S. Justice Department have found evidence of criminal wrongdoing. It is unclear what the evidence is. According to sources, federal prosecutors are still trying to figure out what charges should be brought against Volkswagen.
       
      Sources go on to say that prosecutors and lawyers from Volkswagen have held preliminary discussions about the case. The two parties are trying to reach a settlement before the end of the year. A matter up for debate is whether the Justice Department will seek a guilty plea or a deferred prosecution agreement; a deal with the U.S. Government would aim to dismiss the charges at a later date if the automaker complies to terms of a settlement. Both Toyota and General Motors have gone down this route recently, dealing with safety issues.
       
      Investigators have been reviewing over 1.5 million documents as part of the criminal probe. Deputy Attorney General Sally Yates said back in June the probe involved “multiple individuals.” It is unknown if prosecutors are planning to charge Volkswagen employees over the diesel emission scandal. If so, they would need to be extradited from Germany to have their day in court.
       
      Source: The Wall Street Journal (Subscription Required)
    • By William Maley
      There have been spy shots floating around for past few months showing a hotted-up version of the Focus RS, leading many to believe that Ford is working on a new RS500. But a report from Autocar says Ford hasn't made a final decision on it.
       
      According to a source, the RS500 is “not genuinely green-lighted, but the desire exists to have a star in the RS and ST range”. The stumbling blocks are whether or not a financial case can be made and if the factory line in Cologne, Germany.
       
      Autocar speculates that the new RS500 will have a similar performance bump to the previous model. The last-generation RS500 featured 345 horsepower, an increase of 15 percent over the standard RS. If Ford was to apply 15 percent increase for the new RS500, then it could produce 396 horsepower.
       
      If the RS500 gets the green light, it would likely be launched next summer as a swan song for the current Focus.
       
      Source: Autocar
    • By William Maley
      Subaru's green credentials aren't the best as it only sells one hybrid in the U.S. (XV Crosstrek Hybrid) and one in Japan (Impreza Sport Hybrid). But that could be changing in 2021.
       
      Japanese newspaper Nikkan Kogyo Shimbun reports that Subaru plans on launching an electric crossover in the U.S. by 2021. This crossover is expected to use Subaru's new modular platform that was revealed earlier this year. The report doesn't say anything about power or possible range, nor does it say how it got this information.
       
      When asked by Nikkan Kogyo Shimbun, Fuji Heavy spokesman Masato Saito said the company hasn't made any decision on introducing an electric vehicle. Saito went on to say that if Subaru did go forward with an EV, it would likely target the North American marketplace.
       
      Source: Automotive News (Subscription Required), Nikkan Kogyo Shimbun
    • By William Maley
      This week, Fiat Chrysler Automobiles, Ford, and General Motors begin talks with Unifor, Canada’s auto workers union for new agreements. GM will likely have the most contentious talks as workers at GM's Oshawa plant don't know what the future holds after 2018.
       
      The plant has already lost a third shift and about 1,000 jobs when it moved production of the Camaro to Lansing last year. Next year will see the end of production of the Chevrolet Equinox, leaving just the Buick Regal and Cadillac XTS. GM has said time and time again for the past two years that it needs to know labor costs before making any decisions on the plant, only causing the worry to increase.
       
      “The company in the past have had feasibility studies or launch teams if we are going to get product. This year, there’s no feasibility studies going on, no launch teams,” said Colin James, president of Unifor Local 222 to The Detroit News.
       
      “Of course, it’s led to a lot of our members in the plant asking questions. There’s uncertainty: ‘Why is there no launch team?’ ‘Are they planning on closing the facility?’ General Motors is basically not answering that question.”
       
      Yesterday at a news conference in Toronto, Unifor president Jerry Dias said workers at Oshawa will not sign a contract unless there are plans for production.
       
      “We are not going to leave negotiations until we have a firm commitment from General Motors on product,” said Dias.
       
      “We firmly believe General Motors will exit Oshawa unless we have a firm commitment.”
       
      But GM has said that it will not make any commitments on investments until there is an agreement in place.
       
      “We won’t be in a position to make a competitive investment decision until after we are through the negotiations,” said David Paterson, GM Canada’s vice-president of corporate affairs.
       
      “We understand that there is a lot of anxiety about Oshawa," Paterson said. He went onto say that GM's focus during the talks is to work on an agreement that is "mutually beneficial and economically competitive."
       
      Whether or not GM and Unifor are able to work an agreement before September 19th remains to be seen. We'll be keeping a close eye on this.
       
      Source: The Toronto Star, The Detroit News


      Click here to view the article
  • Recent Status Updates

  • Who's Online (See full list)