Loss-plagued German carmaker Opel on Thursday unveiled a plan to return to profit in 2020 thanks to savings its new owner French auto giant PSA is to help it achieve without plant closures or forced job cuts.
PSA, which also owns Peugeot (Other OTC: PUGOF - news) and Citroen, took over Opel and its British sister brand Vauxhall from USRead more
Britain’s Vauxhall cars, which was this summer taken over by French automaker PSA, is planning to cut 400 jobs at one of its factories by the end of the year, a PSA spokesman said Friday.
The voluntary redundancies planned for the Ellesmere Port plant in northwest England are in response to “challenging European market conditions and a declining passenger carRead more
France's leading auto manufacturer PSA Group on Monday announced the purchase of Opel and Vauxhall brands from General Motors for 1.3 billion euros (1.38 billon U.S. dollars) "to support its worldwide profitable growth."
Following the transaction, PSA eyes becoming "the second largest automotive company in Europe with 17 percent of market share," the group said in a statement.
The PSARead more