• Sign in to follow this  
    Followers 0

    July 2012 - Mazda


    MAZDA REPORTS JULY SALES

    - Mazda SKYACTIV TECHNOLOGY accounts for more than half of total vehicle sales for the month of July-

    IRVINE, Calif. (August 1, 2012) - Mazda North American Operations (MNAO) today reported July U.S. sales of 19,318 vehicles, representing a decrease of 7.0 percent versus last year. Year-to-date sales through July are up 13.9 percent (13.9 percent DSR) versus last year, with 163,115 vehicles sold.

    Key July sales notes:

    • In the U.S., since the addition of the Mazda CX-5 to the SKYACTIV TECHNOLOGY vehicle line-up, SKYACTIV vehicle sales have increased from 24.0 percent (February 2012) to 60.0 perecent of total vehicle sales for the month of July.
    • MX-5 Miata continued to stay hot this Summer with an increase of 3.7 percent over July of 2011.

    0


    Sign in to follow this  
    Followers 0


    User Feedback


    This good news for Mazda, thought I still do not see them as a stand alone player in the long run.

    Weird part is that everything I read on their web site really did not give me a clear picture of what SkyActive technology really is till I read this older story on it and now feel I have a good grasp on what this is all about.

    http://www.autoweek.com/article/20110805/CARREVIEWS/110809919

    Masda really needs to change their marketing as their commercials leave one still wondering just what the hell is SkyActive technology?

    I figure if a gear head like me is left to search for better answers, how is my wife who watched the same commercials and asked what were they trying to sell me? A car or something else called SkyActive technology?

    That right there tells you their marketing is a failure.

    1

    Share this comment


    Link to comment
    Share on other sites

    i think they will and deserve to. the miata is very important to the mazda image, but the failure of the mazda6 to sell over the last few years is what has really done mazda in. CX-5 is blasting out of showrooms. Mazda3 has a good track record. New Mazda6 needs to be a hit for Mazda to make out alright.

    1

    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

      Only 75 emoticons maximum are allowed.

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

    ×   Your previous content has been restored.   Clear editor




  • Popular Stories

  • Today's Birthdays

    1. Bandit '79
      Bandit '79
      (44 years old)
    2. Ur_pimp
      Ur_pimp
      (27 years old)
  • Similar Content

    • By William Maley
      Mazda is already known for building vehicles that are fun to drive and is garnering one for their distinctive designs. One area that Mazda might not get a lot of credit is the constant improvements they make to their lineup. Take for example the Mazda6 sedan. Since its launch back in 2013 as a 2014 model, Mazda has been updating the 6 with new improvements and features to make it better. For example, when we drove the 2016 Mazda6 back in 2015, it featured new dashboard and infotainment system that made it more pleasant to be in. For 2017, Mazda has introduced two big changes for 6 - one dealing with handling and the other dealing with overall refinement.
      First up is Mazda’s G-Vectoring Control. This system monitors steering and throttle input (along with a few other things according to the brand), and when it deems necessary, will reduce engine power to shift weight to the front. This is said to improve overall handling in a corner. Here’s the thing, I really can’t tell if this system makes the 2017 Mazda6 a better handler than the previous 6 I drove back in 2015. The model shows the sharp handling characteristics that has made it one of the best driving models in the class with little body roll and steering that feels direct.  I would need to drive both a 2016 and 2017 Mazda6 back to back to see if there is a difference. The other improvement for the 2017 Mazda6 will be noticed by anyone going for a ride; a quieter interior. Mazda has added a bit more sound insulation for the 6 and it makes for a more pleasant driving experience. There isn’t as much wind whistle as there was in previous 6s I have driven. You still do get a fair amount of tire noise, but that’s more due to the 19-inch wheels fitted on the Grand Touring. The 19-inch wheels also make the ride slightly rough with various bumps being transmitted clearly to the backsides of you and your passengers. Mazda hasn’t messed with anything else for the 2017 6 and that’s mostly a good thing. It still retains the striking good looks of the outside, especially in this bronze color seen here.  The Mazda6’s interior is towards the top of the class with a modern design, high-quality materials, and an easy to understand control layout. The leather seats offer the right amount of comfort for long trips. Those sitting in the back will have no complaints in terms of head and legroom. Under the hood is a 2.5L SkyActiv-G four-cylinder engine with 184 horsepower and 185 pound-feet of torque. Sport and Touring models get the option of either a six-speed manual or automatic, while the Grand Touring makes due with only the automatic. The engine is a spritely performer with strong acceleration and having the power ready to go when needed. The six-speed is quick when it comes to downshifts. But the transmission does stumble when it comes to upshifts as it is slow to respond when you need that punch of power. At least the automatic transmission does feature paddles on the steering wheel to allow for some manual control to solve this. The continuous updates Mazda makes to the vehicles should be applauded as it helps keep them competitive in light of tougher competition. The 2017 Mazda6 is a key example of this. You might not be able to detect one of the changes made, but the other one us quite noticeable and makes the 6 that much better. Disclaimer: Mazda Provided the 6, Insurance, and One Tank of Gas
      Year: 2017
      Make: Mazda
      Model: 6
      Trim: Grand Touring
      Engine: 2.5L DOHC Skyactiv-G Four-Cylinder
      Driveline: Front-Wheel Drive, Six-Speed Automatic
      Horsepower @ RPM: 184 @ 5,700
      Torque @ RPM: 185 @ 3,250
      Fuel Economy: City/Highway/Combined - 27/35/30
      Curb Weight: 3,305 lbs
      Location of Manufacture: Hofu, Japan
      Base Price: $30,695
      As Tested Price: $34,530 (Includes $835.00 Destination Charge)
      Options:
      GT Premium Package - $2,500.00
      Machine Gray Metallic - $300.00
      Door Sill Trim Plates - $125.00
      Cargo Mat - $75.00
    • By William Maley
      Mazda is already known for building vehicles that are fun to drive and is garnering one for their distinctive designs. One area that Mazda might not get a lot of credit is the constant improvements they make to their lineup. Take for example the Mazda6 sedan. Since its launch back in 2013 as a 2014 model, Mazda has been updating the 6 with new improvements and features to make it better. For example, when we drove the 2016 Mazda6 back in 2015, it featured new dashboard and infotainment system that made it more pleasant to be in. For 2017, Mazda has introduced two big changes for 6 - one dealing with handling and the other dealing with overall refinement.
      First up is Mazda’s G-Vectoring Control. This system monitors steering and throttle input (along with a few other things according to the brand), and when it deems necessary, will reduce engine power to shift weight to the front. This is said to improve overall handling in a corner. Here’s the thing, I really can’t tell if this system makes the 2017 Mazda6 a better handler than the previous 6 I drove back in 2015. The model shows the sharp handling characteristics that has made it one of the best driving models in the class with little body roll and steering that feels direct.  I would need to drive both a 2016 and 2017 Mazda6 back to back to see if there is a difference. The other improvement for the 2017 Mazda6 will be noticed by anyone going for a ride; a quieter interior. Mazda has added a bit more sound insulation for the 6 and it makes for a more pleasant driving experience. There isn’t as much wind whistle as there was in previous 6s I have driven. You still do get a fair amount of tire noise, but that’s more due to the 19-inch wheels fitted on the Grand Touring. The 19-inch wheels also make the ride slightly rough with various bumps being transmitted clearly to the backsides of you and your passengers. Mazda hasn’t messed with anything else for the 2017 6 and that’s mostly a good thing. It still retains the striking good looks of the outside, especially in this bronze color seen here.  The Mazda6’s interior is towards the top of the class with a modern design, high-quality materials, and an easy to understand control layout. The leather seats offer the right amount of comfort for long trips. Those sitting in the back will have no complaints in terms of head and legroom. Under the hood is a 2.5L SkyActiv-G four-cylinder engine with 184 horsepower and 185 pound-feet of torque. Sport and Touring models get the option of either a six-speed manual or automatic, while the Grand Touring makes due with only the automatic. The engine is a spritely performer with strong acceleration and having the power ready to go when needed. The six-speed is quick when it comes to downshifts. But the transmission does stumble when it comes to upshifts as it is slow to respond when you need that punch of power. At least the automatic transmission does feature paddles on the steering wheel to allow for some manual control to solve this. The continuous updates Mazda makes to the vehicles should be applauded as it helps keep them competitive in light of tougher competition. The 2017 Mazda6 is a key example of this. You might not be able to detect one of the changes made, but the other one us quite noticeable and makes the 6 that much better. Disclaimer: Mazda Provided the 6, Insurance, and One Tank of Gas
      Year: 2017
      Make: Mazda
      Model: 6
      Trim: Grand Touring
      Engine: 2.5L DOHC Skyactiv-G Four-Cylinder
      Driveline: Front-Wheel Drive, Six-Speed Automatic
      Horsepower @ RPM: 184 @ 5,700
      Torque @ RPM: 185 @ 3,250
      Fuel Economy: City/Highway/Combined - 27/35/30
      Curb Weight: 3,305 lbs
      Location of Manufacture: Hofu, Japan
      Base Price: $30,695
      As Tested Price: $34,530 (Includes $835.00 Destination Charge)
      Options:
      GT Premium Package - $2,500.00
      Machine Gray Metallic - $300.00
      Door Sill Trim Plates - $125.00
      Cargo Mat - $75.00

      View full article
    • By William Maley
      Later this month, the 2017 Mazda CX-5 will begin arriving at dealers in the U.S. Before this happens, Mazda has revealed the pricing for the upcoming crossover. The base CX-5 Sport will carry a price tag of $24,985 (includes a $940 destination charge).
      All CX-5s will come equipped with a 2.5L SkyActiv-G four-cylinder and six-speed automatic (sorry, no manual transmission is on offer for this generation). The 2.5 produces 187 horsepower and 185 pound-feet of torque. Front-wheel drive comes standard, while Mazda's i-ACTIV all-wheel drive system adds $1,300 to the base price.
      The CX-5 Sport comes decently equipped with 17-inch alloy wheels, LED headlights, Smart City Brake Support, 7-inch color touchscreen with Mazda Connect, push-button start, and power accessories. 
      The CX-5 Touring ($26,855) adds blind-spot monitoring with rear-cross traffic alert, dual-zone climate control, leatherette upholstery, heated front seats, six-way power driver's seat, keyless entry, and auto-leveling LED headlights.
      Wrapping up the CX-5 lineup is the Grand Touring ($30,335). This model features full LED lighting outside, 19-inch alloy wheels, leather seats, eight-way power driver's seat with lumbar, rain-sensing wipers, and heated exterior mirrors.
      Options for the CX-5 include navigation, Bose audio system, heated steering wheel, heated rear seats, radar cruise control, lane departure warning, and automatic high beams.
      Source: Mazda 
      Press Release is on Page 2


      2017 MAZDA CX-5 PRICED FROM MSRP OF $24,045
      Mazda’s Best-Selling Compact Crossover SUV a Remarkable Value with Segment-Exclusive Standard and Available Technologies IRVINE, Calif. (March 8, 2017) – The previous Mazda CX-5 ended its tenure as a compact crossover SUV segment favorite, winning the praise of automotive critics and the hearts of consumers. CX-5 became Mazda’s best-selling vehicle in the U.S. Its successor, the all-new 2017 CX-5, will arrive in late March at dealerships nationwide with a starting MSRP of $24,045, building on the momentum that has made the model an unequivocal hit.
      The 2017 CX-5 hits a sweet spot in the compact crossover SUV segment for its refinement, quality, craftsmanship, design, efficiency, safety and dynamics among a long list of other reasons. No matter which trim level is selected, CX-5 also represents a remarkable value.
      The entry CX-5 Sport trim features 17-inch alloy wheels, black cloth-upholstered seats, cruise control, air conditioning, power windows, power mirrors, pushbutton starter, LED headlights, variable intermittent windshield wipers, carpeted floor mats, a 40:20:40 split-folding rear seat, Smart City Brake Support and power door locks. Additionally, CX-5 comes standard with MAZDA CONNECTTM, which pairs a 7-inch color touchscreen- and Commander-control-knob-operated infotainment display that incorporates AM/FM/HD radio, vehicle diagnostics, a backup camera, Bluetooth phone and audio integration and two USB ports for phone connectivity and charging.
      CX-5 Touring adds a six-way power driver’s seat, leatherette seating surfaces with Lux Suede inserts, Blind Spot Monitoring with Rear Cross-Traffic Alert, heated front seats, rear privacy glass, auto-leveling LED headlights, a six-speaker audio system, Mazda Advanced Keyless Entry, leather-wrapped steering wheel and shifter handle, illuminated vanity mirrors, a rear center armrest, rear HVAC vents, dual-zone climate control, rear USB ports and a reclining rear bench seat.
      Further building on CX-5 Touring is the Preferred Equipment Package, which includes a BOSE® 10-speaker audio system with CenterPoint 2 and AudioPilot 2, a power glass moonroof, power liftgate, navigation, auto-dimming mirrors with Homelink and auto on/off headlights. Customers can also opt for the Touring i-ACTIVSENSE Package on top of the Preferred Equipment Package, adding High Beam Control, Lane-Departure Warning, Lane-Keep Assist, Mazda Radar Cruise Control and Smart Brake Support.
      Adding greater levels of equipment yet is CX-5 Grand Touring, adopting black or parchment leather seating surfaces, 19-inch alloy wheels, eight-way power driver’s seat with power lumbar support, SiriusXM satellite radio, rain-sensing wipers and heated exterior mirrors. Other additions include Adaptive Front-lighting system, LED fog lights and LED tail lights. Finally, CX-5 Grand Touring’s Premium Package comes with a windshield-projected Active Driving Display with Traffic Sign Recognition, a power front passenger seat, heated rear outboard seats, heated steering wheel and windshield wiper de-icer.
      All models come standard with the SKYACTIV-G 2.5 engine and six-speed SKYACTIV-DRIVE automatic transmission. Front-wheel drive is standard, with Mazda’s predictive i-ACTIV all-wheel drive available on all trim levels.
      MSRP FOR ALL MODELS IS AS FOLLOWS:
      Model/Trim Package Front-Wheel Drive i-ACTIV AWD CX-5 Sport $24,045 $25,345 CX-5 Touring $25,915 $27,215 •Touring Preferred Equipment Package $780 $780 •Touring  
      i-ACTIVSENSE Package
      $625 $625 CX-5 Grand Touring $29,395 $30,695 •Grand Touring Premium Package $1,830 $1,830  
      AVAILABLE PREMIUM PAINT COLORS:
      Soul Red Crystal $595 Machine Gray Metallic (CX-5 Touring and Grand Touring models only) $300 Snowflake White Pearl Mica $200  

      View full article
    • By William Maley
      Later this month, the 2017 Mazda CX-5 will begin arriving at dealers in the U.S. Before this happens, Mazda has revealed the pricing for the upcoming crossover. The base CX-5 Sport will carry a price tag of $24,985 (includes a $940 destination charge).
      All CX-5s will come equipped with a 2.5L SkyActiv-G four-cylinder and six-speed automatic (sorry, no manual transmission is on offer for this generation). The 2.5 produces 187 horsepower and 185 pound-feet of torque. Front-wheel drive comes standard, while Mazda's i-ACTIV all-wheel drive system adds $1,300 to the base price.
      The CX-5 Sport comes decently equipped with 17-inch alloy wheels, LED headlights, Smart City Brake Support, 7-inch color touchscreen with Mazda Connect, push-button start, and power accessories. 
      The CX-5 Touring ($26,855) adds blind-spot monitoring with rear-cross traffic alert, dual-zone climate control, leatherette upholstery, heated front seats, six-way power driver's seat, keyless entry, and auto-leveling LED headlights.
      Wrapping up the CX-5 lineup is the Grand Touring ($30,335). This model features full LED lighting outside, 19-inch alloy wheels, leather seats, eight-way power driver's seat with lumbar, rain-sensing wipers, and heated exterior mirrors.
      Options for the CX-5 include navigation, Bose audio system, heated steering wheel, heated rear seats, radar cruise control, lane departure warning, and automatic high beams.
      Source: Mazda 
      Press Release is on Page 2


      2017 MAZDA CX-5 PRICED FROM MSRP OF $24,045
      Mazda’s Best-Selling Compact Crossover SUV a Remarkable Value with Segment-Exclusive Standard and Available Technologies IRVINE, Calif. (March 8, 2017) – The previous Mazda CX-5 ended its tenure as a compact crossover SUV segment favorite, winning the praise of automotive critics and the hearts of consumers. CX-5 became Mazda’s best-selling vehicle in the U.S. Its successor, the all-new 2017 CX-5, will arrive in late March at dealerships nationwide with a starting MSRP of $24,045, building on the momentum that has made the model an unequivocal hit.
      The 2017 CX-5 hits a sweet spot in the compact crossover SUV segment for its refinement, quality, craftsmanship, design, efficiency, safety and dynamics among a long list of other reasons. No matter which trim level is selected, CX-5 also represents a remarkable value.
      The entry CX-5 Sport trim features 17-inch alloy wheels, black cloth-upholstered seats, cruise control, air conditioning, power windows, power mirrors, pushbutton starter, LED headlights, variable intermittent windshield wipers, carpeted floor mats, a 40:20:40 split-folding rear seat, Smart City Brake Support and power door locks. Additionally, CX-5 comes standard with MAZDA CONNECTTM, which pairs a 7-inch color touchscreen- and Commander-control-knob-operated infotainment display that incorporates AM/FM/HD radio, vehicle diagnostics, a backup camera, Bluetooth phone and audio integration and two USB ports for phone connectivity and charging.
      CX-5 Touring adds a six-way power driver’s seat, leatherette seating surfaces with Lux Suede inserts, Blind Spot Monitoring with Rear Cross-Traffic Alert, heated front seats, rear privacy glass, auto-leveling LED headlights, a six-speaker audio system, Mazda Advanced Keyless Entry, leather-wrapped steering wheel and shifter handle, illuminated vanity mirrors, a rear center armrest, rear HVAC vents, dual-zone climate control, rear USB ports and a reclining rear bench seat.
      Further building on CX-5 Touring is the Preferred Equipment Package, which includes a BOSE® 10-speaker audio system with CenterPoint 2 and AudioPilot 2, a power glass moonroof, power liftgate, navigation, auto-dimming mirrors with Homelink and auto on/off headlights. Customers can also opt for the Touring i-ACTIVSENSE Package on top of the Preferred Equipment Package, adding High Beam Control, Lane-Departure Warning, Lane-Keep Assist, Mazda Radar Cruise Control and Smart Brake Support.
      Adding greater levels of equipment yet is CX-5 Grand Touring, adopting black or parchment leather seating surfaces, 19-inch alloy wheels, eight-way power driver’s seat with power lumbar support, SiriusXM satellite radio, rain-sensing wipers and heated exterior mirrors. Other additions include Adaptive Front-lighting system, LED fog lights and LED tail lights. Finally, CX-5 Grand Touring’s Premium Package comes with a windshield-projected Active Driving Display with Traffic Sign Recognition, a power front passenger seat, heated rear outboard seats, heated steering wheel and windshield wiper de-icer.
      All models come standard with the SKYACTIV-G 2.5 engine and six-speed SKYACTIV-DRIVE automatic transmission. Front-wheel drive is standard, with Mazda’s predictive i-ACTIV all-wheel drive available on all trim levels.
      MSRP FOR ALL MODELS IS AS FOLLOWS:
      Model/Trim Package Front-Wheel Drive i-ACTIV AWD CX-5 Sport $24,045 $25,345 CX-5 Touring $25,915 $27,215 •Touring Preferred Equipment Package $780 $780 •Touring  
      i-ACTIVSENSE Package
      $625 $625 CX-5 Grand Touring $29,395 $30,695 •Grand Touring Premium Package $1,830 $1,830  
      AVAILABLE PREMIUM PAINT COLORS:
      Soul Red Crystal $595 Machine Gray Metallic (CX-5 Touring and Grand Touring models only) $300 Snowflake White Pearl Mica $200  
    • By William Maley
      It is now official. This morning, PSA Group has agreed to buy Opel and Vauxhall from General Motors for 2.2 billion euros (about $2.3 billion). The deal is comprised of a 1.8 billion euros ($1.9 billion) payment for Opel and Vauxhall, along with a stake in Opel's financing arm. This makes PSA Group the second-largest automaker in Europe.
      “It gives us the opportunity to become a real European champion. Our plan is to build a common future for Opel and Vauxhall and fix the existing issues,” said PSA Chief Executive Officer Carlos Tavares.
      Those existing issues include Opel and Vauxhall never breaking even for GM. Over the past two decades, Opel and Vauxhall have lost almost $20 billion. In 2016, the division was projected to break even, but the complications of Great Britain leaving the EU meant they posted a loss of $257 million.
      "The way I look at this is positioning Opel-Vauxhall to be incredibly successful in the future," said GM CEO Mary Barra when asked by a reporter if she was relieved about the sale of Opel and Vauxhall. 
      "General Motors doesn't have to be relieved. They can be proud of giving Opel-Vauxhall a better future," said Tavares.
      PSA Group is aiming to make Opel and Vauxhall profitable once again, with operating profit targets of 2 percent in 2020 and 6 percent by 2026. These targets will be reached by joint cost savings of 1.7 billion euros (about $1.8 billion) by spreading the costs of developing new vehicles and sharing purchasing costs.
      General Motors won't be fully cutting its ties with Opel and Vauxhall for the time being. GM has allowed PSA Group to license technology rights to keep selling current models (including the upcoming Insignia) until they transition onto PSA platforms. According to Reuters, the next-generation Opel/Vauxhall Corsa will be the first PSA developed model. GM will also collaborate with PSA on various projects such as hydrogen fuel cells. Finally, GM will pay PSA 3 billion euros ($3.18 billion) to settle transferred pension obligations.
      But there are still a number of unanswered questions with this deal. The big one deals with job cuts and plant closures. With this deal, PSA group will add roughly 38,000 workers and 10 production facilities. Some analysts believe that PSA Group will close two to three plants within the next five years, with the possibility of those closures taking place in Great Britain due to Brexit. Taveres has said that the automaker would honor existing labor agreements and closing plants is a “simplistic” solution.
      “We don’t need to shut down plants,” said Tavares.
      Second is what will happen for Buick and Holden when models they share with Opel transition to PSA platforms. Both Buick and Holden will be getting the next-generation Insignia as the Regal and Commodore. Buick also gets the Opel Mokka to sell as the Encore, while Holden sells the Astra compact.
      Finally, there is the question about PSA Group's plans to re-enter the U.S. How does the purchase of Opel and Vauxhall affect their plans?
      Source: Bloomberg, Reuters, Automotive News (Subscription Required), General Motors, PSA Group
      Press Release is on Page 2


      Opel/Vauxhall to join PSA Group
      Establishes PSA Group as #2 in Europe. This strong and balanced presence in its home markets will serve as the basis of profitable growth worldwide Joint venture in auto financing with BNP Paribas to support development of Opel/Vauxhall brands €2.2 Bn transaction advances GM’s transformation and unlocks shareholder value through disciplined capital allocation Detroit and Paris – General Motors Co. (NYSE:GM) and PSA Group (Paris:UG) today announced an agreement under which GM’s Opel/Vauxhall subsidiary and GM Financial’s European operations will join the PSA Group in a transaction valuing these activities at €1.3 Bn and €0.9 Bn, respectively.
      With the addition of Opel/Vauxhall, which generated revenue of €17.7 Bn in 20161, PSA will become the second-largest automotive company in Europe, with a 17% market share2.
      Creates sound European foundation for PSA to support its worldwide profitable growth
      “We are proud to join forces with Opel/Vauxhall and are deeply committed to continuing to develop this great company and accelerating its turnaround,” said Carlos Tavares, chairman of the Managing Board of PSA. “We respect all that Opel/Vauxhall’s talented people have achieved as well as the company’s fine brands and strong heritage. We intend to manage PSA and Opel/Vauxhall capitalizing on their respective brand identities. Having already created together winning products for the European market, we know that Opel/Vauxhall is the right partner. We see this as a natural extension of our relationship and are eager to take it to the next level.”
      “We are confident that the Opel/Vauxhall turnaround will significantly accelerate with our support, while respecting the commitments made by GM to the Opel/Vauxhall employees,” continued Mr. Tavares.
      Advances GM’s Transformation and Unlocks Value
      “We are very pleased that together, GM, our valued colleagues at Opel/Vauxhall and PSA have created a new opportunity to enhance the long-term performance of our respective companies by building on the success of our prior alliance”, said Mary T. Barra, GM chairman and chief executive officer.
      “For GM, this represents another major step in the ongoing work that is driving our improved performance and accelerating our momentum. We are reshaping our company and delivering consistent, record results for our owners through disciplined capital allocation to our higher-return investments in our core automotive business and in new technologies that are enabling us to lead the future of personal mobility.
      “We believe this new chapter puts Opel and Vauxhall in an even stronger position for the long term and we look forward to our participation in the future success and strong value-creation potential of PSA through our economic interest and continued collaboration on current and exciting new projects,” Ms. Barra concluded.
      Strengthens Each Company for the Long Term
      The transaction will allow substantial economies of scale and synergies in purchasing, manufacturing and R&D. Annual synergies of €1.7 Bn are expected by 2026 – of which a significant part is expected to be delivered by 2020, accelerating Opel/Vauxhall’s turnaround. Leveraging the successful partnership with GM, PSA expects Opel/Vauxhall to reach a recurring operating margin3 of 2% by 2020 and 6% by 2026, and to generate a positive operational free cash flow4 by 2020.
      PSA, together with BNP Paribas, will also acquire all of GM Financial’s European operations through a newly formed 50%/50% joint venture that will retain GM Financial’s current European platform and team. This joint venture will be fully consolidated by BNP Paribas and accounted under the equity method by PSA.
      The transaction is another step in GM’s ongoing work to transform the company, which has delivered three years of record performance and a strong 2017 outlook, and returned significant capital to shareholders. It will strengthen GM’s core business, support its continued deployment of resources to higher-return opportunities including in advanced technologies driving the future, and unlock significant value for shareholders.
      By immediately improving EBIT-adjusted, EBIT-adjusted margins and adjusted automotive free cash flow and de-risking the balance sheet, the transaction will enable GM to lower the cash balance requirement under its capital allocation framework by $2 Bn, which it intends to use to accelerate share repurchases, subject to market conditions.
      GM will also participate in the future success of the combined entity through its ownership of warrants to purchase shares of PSA. GM and PSA also expect to collaborate in the further deployment of electrification technologies and existing supply agreements for Holden and certain Buick models will continue, and PSA may potentially source long-term supply of fuel cell systems from the GM/Honda joint venture.
      Additional Information
      Terms of the Agreement
      Opel/Vauxhall automotive operations will be acquired by PSA for €1.3 Bn. GM Financial’s European operations will be jointly acquired by PSA and BNP Paribas for 0.8 times their pro forma book value at the closing of the transaction, or approximately €0.9 Bn.
      The transaction has a total value of €2.2 Bn, for Opel/Vauxhall automotive operations and 100% of GM Financial’s European operations.
      The transaction value for PSA, including Opel/Vauxhall and 50% of GM Financial’s European operations, will be €1.8 Bn.
      In connection with this transaction, GM or its affiliates will subscribe warrants for €0.65 Bn. These warrants have a nine-year maturity and are exercisable at any time in whole or in part commencing 5 years after the issue date, with a strike price of €1. Based on a reference price of €17.34 for the PSA share5 , the warrants correspond to 39.7 MM shares of PSA, or 4.2% of its fully diluted share capital6. GM will not have governance or voting rights with respect to PSA and has agreed to sell the PSA shares received upon exercise of the warrants within 35 days after exercise.
      The transaction includes all of Opel/Vauxhall’s automotive operations, comprising Opel and Vauxhall brands, six assembly and five component-manufacturing facilities, one engineering center (Rüsselsheim) and approximately 40,000 employees. GM will retain the engineering center in Torino, Italy.
      Opel/Vauxhall will also continue to benefit from intellectual property licenses from GM until its vehicles progressively convert to PSA platforms over the coming years.
      In connection with the transaction, GM will take a primarily non-cash special charge of $4.0-4.5 Bn.
      Ongoing Pension Fund Commitments
      All of Opel/Vauxhall’s European and U.K. pension plans, funded and unfunded, with the exception of the German Actives Plan and selected smaller plans will remain with GM. The obligations with respect to the German Actives Plan and these smaller plans of Opel/Vauxhall will be transferred to PSA. GM will pay PSA €3.0 Bn for full settlement of transferred pension obligations.
      Closing Conditions
      The transaction is subject to various closing conditions, including regulatory approvals and reorganizations, and is expected to close before the end of 2017.
      Warrants
      The issuance of the warrants is subject to the vote of shareholders at PSA’s General Meeting of May 10th, 2017. The three main shareholders of PSA (the French State, the Peugeot family and DongFeng) representing in aggregate 36.6% of the share capital and 51.5%7 of the voting rights of PSA have undertaken to vote in favor of the resolution related to the issuance of the warrants to GM. In the event the warrant issuance reserved to GM and its affiliates is not approved by PSA’s General Meeting, PSA will settle the €0.65 Bn in cash over five years.

      View full article
  • Recent Status Updates

  • Who's Online (See full list)