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Found 24 results

  1. Only a month ago, the automotive world was abuzz when a rumor came out that a Chinese automaker had a put in a bid for Fiat Chrysler Automobiles. We also learned about four possible Chinese automakers that were supposedly interested. But after this rumor came out, most of the Chinese automakers stepped back and said they were not interested. The only one that expressed some interest was Great Wall, but only for Jeep. Since then, they have taken a few steps back. It seems no one is interested in FCA, a fact that was confirmed by CEO Sergio Marchionne. According to Reuters, Marchionne
  2. Only a month ago, the automotive world was abuzz when a rumor came out that a Chinese automaker had a put in a bid for Fiat Chrysler Automobiles. We also learned about four possible Chinese automakers that were supposedly interested. But after this rumor came out, most of the Chinese automakers stepped back and said they were not interested. The only one that expressed some interest was Great Wall, but only for Jeep. Since then, they have taken a few steps back. It seems no one is interested in FCA, a fact that was confirmed by CEO Sergio Marchionne. According to Reuters, Marchionne
  3. Earlier this week, Chinese automaker Great Wall announced its intentions of possibly buying Jeep. It was hoping to make contact with Fiat Chrysler Automobiles about starting negotiations. But just a day later, Great Wall has poured a bucket of cold water on their plans. In a recent filing to the Shanghai stock exchange, Great Wall said there are “big uncertainties” with FCA and isn't sure if it will continue investigating it. The company also stated they have not made any contact with Fiat's board. "The company has not built any relationship with the directors of FCA nor has the comp
  4. Earlier this week, Chinese automaker Great Wall announced its intentions of possibly buying Jeep. It was hoping to make contact with Fiat Chrysler Automobiles about starting negotiations. But just a day later, Great Wall has poured a bucket of cold water on their plans. In a recent filing to the Shanghai stock exchange, Great Wall said there are “big uncertainties” with FCA and isn't sure if it will continue investigating it. The company also stated they have not made any contact with Fiat's board. "The company has not built any relationship with the directors of FCA nor has the comp
  5. It is no secret that Sergio Marchionne has been looking for a buyer to take on Fiat Chrysler Automobiles for the past two years. But no one seemed seriously interested. That has changed. Automotive News has learned from various sources that a number of Chinese automakers are conducting appraisals into FCA, with some meeting with representatives of U.S. retail groups about a potential acquisition last week. One source revealed that FCA executives have traveled to China to meet with Great Wall Motor Co. and that Chinese delegations were at FCA's HQ. AN also reports that a well-known Ch
  6. It is no secret that Sergio Marchionne has been looking for a buyer to take on Fiat Chrysler Automobiles for the past two years. But no one seemed seriously interested. That has changed. Automotive News has learned from various sources that a number of Chinese automakers are conducting appraisals into FCA, with some meeting with representatives of U.S. retail groups about a potential acquisition last week. One source revealed that FCA executives have traveled to China to meet with Great Wall Motor Co. and that Chinese delegations were at FCA's HQ. AN also reports that a well-known Ch
  7. General Motors and PSA Group completed the sale of Opel/Vauxhall yesterday, effectively ending the era of GM’s European division. “It is a historic day. We are proud to join Groupe PSA and are now opening a new chapter in our history after 88 years with General Motors. We will continue our path of making technology `made in Germany´ available to everyone. The combination of our strengths will enable us to turn Opel and Vauxhall into a profitable and self-funded business. We have set ourselves the clear target of returning to profitability by 2020,” said Opel Automobile GmbH CEO Michael Lo
  8. General Motors and PSA Group completed the sale of Opel/Vauxhall yesterday, effectively ending the era of GM’s European division. “It is a historic day. We are proud to join Groupe PSA and are now opening a new chapter in our history after 88 years with General Motors. We will continue our path of making technology `made in Germany´ available to everyone. The combination of our strengths will enable us to turn Opel and Vauxhall into a profitable and self-funded business. We have set ourselves the clear target of returning to profitability by 2020,” said Opel Automobile GmbH CEO Michael Lo
  9. If General Motors and PSA Group were hoping to have a smooth sale of Opel, they were dashed this week. Both Automobilwoche and German newspaper Allgemeine Zeitung report Opel's work council and German labor union IG Metall have some specific demands for workers at Opel's development center in Rüsselsheim. The two parties want a guarantee that 7,700 workers will keep their jobs at the center and that continue performing work for GM until 2020 - which could account for 30 percent of the development center's output. There are also some disagreements on vehicle development. PSA Group wa
  10. If General Motors and PSA Group were hoping to have a smooth sale of Opel, they were dashed this week. Both Automobilwoche and German newspaper Allgemeine Zeitung report Opel's work council and German labor union IG Metall have some specific demands for workers at Opel's development center in Rüsselsheim. The two parties want a guarantee that 7,700 workers will keep their jobs at the center and that continue performing work for GM until 2020 - which could account for 30 percent of the development center's output. There are also some disagreements on vehicle development. PSA Group wa
  11. There are still a lot of unanswered questions concerning the sale of Opel/Vauxhall to PSA Groupe. A fair number deals with Buick as a number of their products (including the new Regal) are intertwined with Opel. GM executives say this will not affect Buick's lineup down the road. “The sale of Opel will have no impact on the fresh new lineup Buick is building out,” said Duncan Aldred, GM’s vice president of global Buick and GMC during the launch of the 2018 Regal this week. “This is very much part of our portfolio plan,” said Mark Reuss, GM’s executive vice president of global product
  12. There are still a lot of unanswered questions concerning the sale of Opel/Vauxhall to PSA Groupe. A fair number deals with Buick as a number of their products (including the new Regal) are intertwined with Opel. GM executives say this will not affect Buick's lineup down the road. “The sale of Opel will have no impact on the fresh new lineup Buick is building out,” said Duncan Aldred, GM’s vice president of global Buick and GMC during the launch of the 2018 Regal this week. “This is very much part of our portfolio plan,” said Mark Reuss, GM’s executive vice president of global product
  13. Last week saw the PSA Group (parent company of Citroen and Peugeot) purchasing Opel and Vauxhall from General Motors for $2.3 billion. This move would make the PSA Group the second-largest automaker in Europe. We already know some of the plans that PSA Group has for their new brands such as setting operating profit targets of 2 percent in 2020 (jumps to 6 percent by 2026) and the next-generation Opel/Vauxhall Corsa being the first new product developed with PSA. But as we alluded to in the original news story, there are a lot of questions that remain unanswered such as possible job cuts or wha
  14. Last week saw the PSA Group (parent company of Citroen and Peugeot) purchasing Opel and Vauxhall from General Motors for $2.3 billion. This move would make the PSA Group the second-largest automaker in Europe. We already know some of the plans that PSA Group has for their new brands such as setting operating profit targets of 2 percent in 2020 (jumps to 6 percent by 2026) and the next-generation Opel/Vauxhall Corsa being the first new product developed with PSA. But as we alluded to in the original news story, there are a lot of questions that remain unanswered such as possible job cuts or wha
  15. Holden was relying on Opel to help supply its upcoming lineup with models such as the Astra and Insignia rebadged as the Commodore. But with the sale of Opel and Vauxhall to PSA Group, the future of Holden's lineup hangs in the balance. But GM is still committed to the Australian brand and the sale of Opel should not have any impact in the near future according to GM president Dan Ammann. “What I want to emphasise is we are 100 per cent committed to the business in Australia and New Zealand, and we have a lot of exciting things in the pipeline. It’s going to be a really good period of tim
  16. Holden was relying on Opel to help supply its upcoming lineup with models such as the Astra and Insignia rebadged as the Commodore. But with the sale of Opel and Vauxhall to PSA Group, the future of Holden's lineup hangs in the balance. But GM is still committed to the Australian brand and the sale of Opel should not have any impact in the near future according to GM president Dan Ammann. “What I want to emphasise is we are 100 per cent committed to the business in Australia and New Zealand, and we have a lot of exciting things in the pipeline. It’s going to be a really good period of tim
  17. 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 n
  18. 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 n
  19. PSA Group is in discussions with General Motors on various strategic initiatives, including the possibility of acquiring Opel/Vauxhall. The news was first broke by Bloomberg and Reuters early this morning as sources revealed the two were in talks about swapping the ownership of Opel. Since then, a spokesman for PSA Group confirmed the talks. The maker of Peugeot, Citroen and DS cars is "exploring a number of strategic initiatives with GM with the aim of increasing its profitability and operating efficiency, including a potential acquisition of Opel." The two automakers already share
  20. PSA Group is in discussions with General Motors on various strategic initiatives, including the possibility of acquiring Opel/Vauxhall. The news was first broke by Bloomberg and Reuters early this morning as sources revealed the two were in talks about swapping the ownership of Opel. Since then, a spokesman for PSA Group confirmed the talks. The maker of Peugeot, Citroen and DS cars is "exploring a number of strategic initiatives with GM with the aim of increasing its profitability and operating efficiency, including a potential acquisition of Opel." The two automakers already share
  21. The Vauxhall Astra was the final 'Star in a Reasonably Priced Car' before the whole Jeremy Clarkson 'fracas' imploded the show. Now you have the chance to own this vehicle. Vauxhall put the vehicle up for sale this week on eBay, describing the model as a 1.5L TechLine hatchback with 115 horsepower. The Astra is fitted with a full roll cage along with two Corbeau Sprint Racing seats and five-point safety harnesses. It should be noted the airbags are disabled due to the rollcage. Mileage is listed at 2,908 miles. But considering how much abuse this Astra was put through, we think it should r
  22. The Vauxhall Astra was the final 'Star in a Reasonably Priced Car' before the whole Jeremy Clarkson 'fracas' imploded the show. Now you have the chance to own this vehicle. Vauxhall put the vehicle up for sale this week on eBay, describing the model as a 1.5L TechLine hatchback with 115 horsepower. The Astra is fitted with a full roll cage along with two Corbeau Sprint Racing seats and five-point safety harnesses. It should be noted the airbags are disabled due to the rollcage. Mileage is listed at 2,908 miles. But considering how much abuse this Astra was put through, we think it should r
  23. By William Maley Staff Writer - CheersandGears.com April 1, 2013 Alfa Romeo is reportedly a part of a deal that is currently under negotiations between Fiat and Audi. Sources close to the situation tell Wards Auto the deal involves Alfa Romeo and Fiat’s Pomigliano assembly plant which currently makes the Fiat Panda. If the deal was to go through, this would mark the return of Alfa Romeo production under Audi. Also on the table is Fiat’s Magneti Marelli parts unit. Fiat CEO Sergio Marchionne has mentioned before that he would be willing to let go of its parts arm in order to raise cash. Aud
  24. By William Maley Staff Writer - CheersandGears.com April 1, 2013 Alfa Romeo is reportedly a part of a deal that is currently under negotiations between Fiat and Audi. Sources close to the situation tell Wards Auto the deal involves Alfa Romeo and Fiat’s Pomigliano assembly plant which currently makes the Fiat Panda. If the deal was to go through, this would mark the return of Alfa Romeo production under Audi. Also on the table is Fiat’s Magneti Marelli parts unit. Fiat CEO Sergio Marchionne has mentioned before that he would be willing to let go of its parts arm in order to raise cash. Aud

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