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PSA completed its takeover of the Opel and Vauxhall brands from GM on Tuesday, installing a fresh leadership team.
Opel's new CEO, Michael Lohscheller, faces the tough challenge of bringing sustainable profitability to the automaker after its sale to PSA Group by General Motors is completed.
PSA CEO Carlos Tavares reassured shareholders over the acquisition of Opel from GM, saying that the purchase will vault the automaker "far ahead" of its French rival Renault.
Closing plants and laying off workers would be the quickest and easiest way to fix Opel's problems, but PSA Group CEO Carlos Tavares wants to avoid that.
Under GM's ownership, Opel avoided the fate of former sibling Saab, which vanished after the brand was starved of product. But the tie-up with PSA will change all that.
Here's a way JLR can grow annual global volume to 1 million vehicles: Buy Vauxhall from PSA Group.
While GM management sits glued to Detroit desks and worries about finances, Ghosn, Tavares, Zetsche, Fields and Marchionne are personally involved in the international automotive marketplace.
Volkswagen could make a bid for Fiat Chrysler following PSA's move to form Europe's second-largest carmaker with the purchase of Opel, FCA CEO Sergio Marchionne said.
The new Opel/Vauxhall Corsa will be delayed as new owner PSA moves to shift the brand's next-generation cars onto the French automaker's platforms.
A chronology of Opel's history and its sale to PSA Group.
Karl-Thomas Neumann will remain Opel CEO after PSA completes its takeover of the GM unit. PSA CEO Carlos Tavares said he wants Opel's turnaround to be completed by "Opel people."
PSA to buy GM's Opel-Vauxhall for $2.3B, Barra calls deal 'win' for all; U.S. expected to reconsider emissions rules; Ford tests 3-D printed race-car parts; How Uber picked up PR crisis.
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