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It's official: GM selling Opel-Vauxhall to Peugeot-Citroen group for $2.3B

It's a Brexit for General Motors. GM is selling off its Opel and Vauxhall unit, it confirmed today, ending 90 years of automobile production in Europe, and nearly two decades of losses from that division. The deal was announced on the eve of the Geneva Motor Show. The focus for GM now becomes North America and China. "This was a difficult decision for General Motors," CEO Mary Barra said. "But we are unified in our belief that it is the right one." "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." The buyer is French automaker PSA Groupe, maker of Peugeot and Citroen as well as its DS luxury sub-brand. The $2.3 billion deal will make PSA the second-biggest European manufacturer after Volkswagen, with 17 percent of the market share. "We want to create a European automotive champion," said PSA Groupe Chairman Carlos Tavares. "We will totally unleash the potential of the Opel and Vauxhall brands." Tavares gave assurances that jobs would not be lost in the deal. "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." The two companies have agreements for PSA to continue to supply some Holden and Buick models; it's not yet clear exactly how this will work, as Opel models form the basis for several of Buick's core products, including the Encore small crossover and Regal sedan. PSA also is purchasing GM's financing operations in Europe as part of the deal. GM may invest in PSA shares in the future, and the two companies may collaborate on electric and fuel-cell vehicles as part of GM's joint venture with Honda. The sale of Opel and Vauxhall brings GM's global brand total down to eight, including three that are specific to the Chinese market. Buick GM Citroen Opel Peugeot Vauxhall 2017 Geneva Motor Show

Buick Envision CUV displays full-frontal nudity

Earlier this month, Shanghai GM gave us a glimpse of the production version of the Buick Envision concept revealed at the Shanghai Motor Show back in 2011. And now it's released the first unveiled shot and initial details of the crossover to slot in the considerable gap between the Encore and Enclave.
The new Envision is set later this year to reach Chinese showrooms, where it will be called the Ang Ke Wei, after which we're expecting it to arrive Stateside. The production-ready Envision is about the size of the Chevrolet Equinox or GMC Terrain, but is differentiated by a more upscale treatment and Buick's signature waterfall grille, flanked by Xenon headlamps and LED running lights and riding on 19-inch wheels.
Power comes from GM's familiar 2.0-liter turbo four with direct injection and stop/start ignition, driving 256 horsepower and 260 pound-feet of torque through a six-speed automatic transmission to all four wheels. That's about all that GM's Chinese operation has announced at this point - it's not even clear what platform the vehicle is on - but you can check out the press release for yourself below.

Two nearly new 1987 Buick Grand National 'twins' found in garage after 30 years

Back in the '80s, a Buick Grand National could leave a lot of vehicles in its dust. The final, 1987 version of the menacingly styled performance coupe produced 245 horsepower and 355 pound feet of torque, and it was never designed to sit still, let alone for 30 years. But two low-mile Grand Nationals did just that. At the time, it was widely known that nothing like the Grand National would be built again, as the Regal platform would be moving to front-wheel drive. So a lot of buyers stockpiled Grand Nationals and rarer GNX versions with the idea of making a buck on them when they gained value. Some people even bought several. That's what happened to these two cars, recently unearthed from their slumber. Thirty years of storage has turned them into barn finds instead of showroom beauties, and they haven't exactly been flawlessly preserved. A story reported on gm-efi.com shows the cars – the "Twins," as they're called – parked side to side, the way they were laid to rest decades ago, with thick dust on them. Two enthusiasts, Shawn Matthews and William Avila, originally contacted the owner, who had posted them for sale on Facebook with a staggering $200,000 asking price. After inspecting the cars and confirming they were legit, the prospective buyers managed to strike a deal for an undisclosed sum. The story does say the seller was a bit eccentric, demanding money in hand before the cars could be touched at all, but the cars were eventually acquired and transported to a shop for desperately needed refurbishing. Time has caused the headliners on both cars to droop, and it's obvious all gaskets and fluids will need to be addressed, but both cars have extremely low odometer readings: One has 807 miles on the clock, while the other hasn't even reached 600. The car with a more miles was moved "once in a while," so clearly the original owner couldn't resist giving it a go while the other one slept. We couldn't've, either. Related Video: Featured Gallery Two Old Buick Grand Nationals View 12 Photos News Source: gm-efi.com via BarnFinds Auto News Buick Classics buick grand national grand national