Money

GM sells European brands to France’s Peugeot

Written by Teunis Felter

General Motors is selling its unprofitable European car business to the French maker of Peugeot, marking the American company’s retreat from a major market and raising concerns of job cuts in the region. With the $2.33 billion deal announced Monday, GM is giving up brands — Opel in Germany and Vauxhall in Britain — that have given it a foothold in the world’s third-largest auto market since the 1920s. They have not, however, made a combined profit in 18 years despite multiple turnaround efforts.

https://www.washingtonpost.com/world/europe/peugeot-to-buy-gms-opel-creating-europes-no-2-carmaker/2017/03/06/99cb8d5e-0237-11e7-9d14-9724d48f5666_story.html?utm_term=.c179f1ecfeaa

About the author

Teunis Felter

Teunis Felter has over 20 years experience as an author, editor, and scientist. When not exploring outside, he enjoys reading history, researching genealogy, and civilly discussing politics.