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PSA's purchase of Opel from GM is expected to be finalized soon

PSA's purchase of the Opel/Vauxhall division from General Motors is expected to be officially announced on Monday, according to The New York Times. PSA, the parent company of European automakers Peugeot and Citroen, will reportedly hold a joint press conference with GM in Paris to announce the deal. GM has worked as part of an alliance with PSA in Europe since 2012. The deal could be a big boon for both companies. For PSA, the addition of Opel and Vauxhall into its fold would catapult the automaker into second place behind Volkswagen for European marketshare, and would allow the company to spend research and development costs across a greater number of vehicles. And GM, which has struggled in recent years to turn a profit with its European division, would be able to focus more squarely on the areas where it's most profitable and to invest in future technologies like automation. But the deal isn't without its potential pitfalls, primarily for PSA. GM hasn't been able to make a success of Opel and Vauxhall, and it's not a sure bet that PSA will, either. What's more, the addition of Opel and Vauxhall doesn't expand PSA's reach any further into new markets, like China or India. The NYT cites data from Ferdinand Dudenhoffer, a professor at the University of Duisburg-Essen in Germany, showing that 70 percent of PSA and Opel business is done in Europe, a market that has been shrinking since 1999. We'll have to wait a few days to see exactly how the deal between PSA and GM will be structured. We're also curious to see how the loss of Opel may affect GM's lineup in the States, especially for Buick, since the company's Regal sedan is based on the European Opel Insignia. In other words, stay tuned. Related Video:

Paul Newman's overachieving 'Volvette' up for bid

For the longest time, it was the ultimate suburban family hauler. But this particular Volvo wagon had a life far beyond the Wegmans parking lots and high school playing fields. This particular 1998 V90 belonged to no ordinary soccer mom or dad, as Paul Newman owned it. Maybe he raced it around the rural roadways of Westport, Connecticut, with kids is tow or to pick up pizzas. The actor, who owned a race team in and out of three decades and racked up four SCCA National Championships, was given the “Volvette” as a surprise gift from one of his teams in 2007, so-called because it was crammed with a 400 horsepower 6.0-liter Chevy LS2 engine and four-speed automatic found in sixth-generation Corvettes from 2005 to 2007. The car, as well as dozens of artifacts of NewmanÂ’s racing career including rings, medals, art, and memorabilia, are on auction currently at RM Sotheby's online: High Speed: Paul NewmanÂ’s Racing Legacy. Bidding closes June 13. The V90 is one of two Newman machines on the block. Estimated winning bid is expected to be $20,000 to $25,000. NewmanÂ’s affection for Volvos dated back some time: his first pumped-up Swedish example was a1988 Volvo 740 powered by a 3.8-liter turbocharged V6 from a Buick Grand National. The car recently sold on Bring a Trailer for $87,777. The middle-child swapped Volvo was a 1995 960 with a supercharged 5.0-liter Mustang V8. Newman famously convinced friend David Letterman to get one (Letterman once co-owned Rahal Letterman Lanigan Racing). Quipping that Volvo station wagons were “just as ugly as homemade shoes,” Letterman nevertheless ordered one and went on to rave about it. With upwards of 400 horsepower or more, one such modified Volvo 960 tested by Car and Driver was as fast as a mid-Â’90s Mustang Cobra. The hot-rod Volvo currently on offer accommodates Porsche 911 components in the front end and mods to the driveshaft. Says the auctionÂ’s description, “The exterior was kept unchanged, as Newman was known to prefer a stock look with his Swedish station wagons.” Sadly, Newman had not enough years left to sufficiently enjoy the Volvette. He died of cancer at age 82 a year after it was given to him. Related video: Celebrities Buick Volvo Auctions Automotive History Wagon

Buyers resent low inventories, prices over MSRP, study says

Vehicle inventory low, vehicle transaction prices high, customers fretting … welcome, J.D. Power, to the era of supply and demand. In a recently published survey from one of the auto industryÂ’s top analytical firms, findings show that customers' satisfaction with vehicle purchases in the United States this year has dipped for the first time in 10 years. The 2022 U.S. Sales Satisfaction Index (SSI) Study found that overall sales satisfaction has dropped to 786 (on a 1,000-point scale) from 789 in 2021. In that year, higher than expected trade-in values softened the effect of new vehicle price increases. But in 2022, on top of trade-in prices shrinking, many dealers elected to charge more than the ManufacturerÂ’s Suggested Retail Price, a factor that did not sit well with buyers. “When dealers charge more than MSRP, particularly with long-term loyal customers, they risk a potential long-term negative effect on customer advocacy and service business," said Chris Sutton, vice president of automotive retail at J.D. Power. Satisfaction among buyers who paid more than sticker price is 757, while satisfaction among those who paid the sticker price or less is 850, the Power report said. The lack of dealership inventory was also a customer irritant, J.D. Power found, a point that automakers and their dealers may want to consider. Many have maintained, or considered maintaining, a smaller inventory in the wake of the pandemic, keeping costs down and driving more customers toward factory orders. Regarding those consumers shopping for electric vehicles, the survey said that more than a third of them “failed to get instruction on EV charging before they left the dealership, which notably affects satisfaction.” Said Sutton, “Salespeople donÂ’t need to show gas-powered vehicle buyers how to fill their tank, but they do need to show EV buyers how to charge their vehicle.” There are positives to the Power conclusions, however, especially for Alfa Romeo dealers. The Italian brand ranked highest in customer satisfaction among premium brands with a score of 833, with Porsche a very close second (831) and Lexus (819) third. Alfa is on something of a roll these days, with its compact Tonale crossover due for release in the spring, and a new sports car in the works. Meanwhile, in PowerÂ’s “mainstream brand”” segment, Buick ranked first with a score of 825, followed by Dodge (816) and Subaru (804), all performing higher than the industry average.