As GM tries to sell its European business to PSA, one issue looms large: how the companies will manage an underfunded pension plan. GM's pension plan for Opel and Vauxhall is underfunded by about $9 billion, according to Bloomberg.
PSA CEO Carlos Tavares played down the threat to British plants as he discussed his potential takeover of General Motors' European operations during a visit to London.
Mercedes-Benz Vans division is looking closely at a growing demand in the United States for midsize pickups to see whether there is potential to launch its X class in the market, divisional head Volker Mornhinweg said.
Volkswagen Group's embattled VW brand chief Herbert Diess still has the backing of the clan that controls the carmaker, despite his recurring clashes with labor leaders over cost-cutting plans, Reuters reported.
Spain is the only European country where PSA's production overlaps with that of Opel, and the market could deliver the quick cost savings sought by the French automaker if it buys GM's European unit.
Audi's supervisory board backed CEO Rupert Stadler, saying allegations brought against him by a former Audi employee suing for wrongful termination were not accurate.
PSA CEO Carlos Tavares offered a robust justification for a potential deal to buy GM's Opel/Vauxhall business, saying his company has the track record and expertise to turn around GM's European operations, which has continued to lose hundreds of...
PSA plans an engineering blitz to redevelop Opel's core models with its own technology if it succeeds in buying GM's European arm, Reuters reported.
UK Prime Minister Theresa May and German Chancellor Angela Merkel have both spoken with PSA CEO Carlos Tavares in the last few days as the executive looks likely to preside over a deal with Opel/Vauxhall that may put UK and German car jobs at risk.
PSA Group CEO Carlos Tavares laid out his vision for Opel that includes expanding the German brand outside its European home market.
Nissan said the Brexit-induced fall in the pound, which dropped by some 15 percent against the euro after the June referendum, had left it slightly worse off in the UK as the extra cost of importing euro-denominated parts outweighed the currency...
PSA's proposed acquisition of Opel would swiftly create savings and value for both companies, PSA CEO Carlos Tavares said.
UK car production rose by an annual 7.5 percent in January to hit its highest level since 2008, as strong demand for exports compensated for a decline in demand at home, according to data from the SMMT industry body.
PSA will be a partner in TravelCar, a ride-sharing service set to begin in April at airports in San Francisco and Los Angeles, as the automaker takes the first steps toward re-entering the North American market.
PSA's earnings jumped 18 percent last year on cost cuts, underscoring the automaker's revival and helping its efforts to buy GM's struggling European operations.
Kia hopes customer loyalty, along with new connectivity and safety features, will help lift sales of the Picanto in the price-sensitive minicar segment.
VW Group is in advanced talks to team up with Tata Motors as the German automaker takes another stab at India's fast-growing demand for cars, Bloomberg reported.
PSA expects its planned acquisition of GM's Opel/Vauxhall division to lead to combined sales of 5 million vehicles by 2022 and save as much as $2.1 billion annually, Reuters reported.
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