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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:

Submit your questions for Autoblog Podcast #310 LIVE!

We record Autoblog Podcast #310 tonight, and you can drop us your questions and comments regarding the rest of the week's news via our Q&A module below. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.
Discussion Topics for Autoblog Podcast Episode #310
Buick GN and GNX will return

1987 Buick GNX with 8.5 miles sells for ... well, you won't believe it [UPDATE]

UPDATE, FRIDAY, FEB. 15: Blowing past what was believed to be the previous sales record of $165,000, this 8.5-mile 1987 Buick GNX sold for $200,000. It jumped approximately $80,000 in the final 10 minutes. The winning bid went to username PETRO917, who joined Bring a Trailer in February, seemingly specifically to bid on the GNX. The previous story appears below. Automotive grails are expected to cost unfathomable amounts of cash, but this 8.5-mile (EIGHT!) 1987 Buick GNX could reach monetary digits not seen before. With four days still left on the Bring a Trailer auction, the GNX is already up to $100,000. The Grand National, particularly the GNX, is one of those cars that has skyrocketed in value in the past 10 years. It's been earning payouts that put it in a rare class of General Motors vehicles typically occupied by classic Corvettes and Camaros. At the Barrett-Jackson Palm Beach auction in 2015, a 362-mile example sold for a brain-scrambling $165,000, likely the most ever paid for a GNX. Last year, the first GNX ever released to the public (VIN No. 1 and 2 were kept by the company) had 8,200 miles and sold for $126,500. The most expensive GNX ever sold on Bring a Trailer had 28,000 miles and ended at $60,000 in summer 2018. Bidding on this example is already $40K past that, with days to go. To the shock and dismay of many, this ultra-rare performance icon has been driven less than the distance of a half marathon. Its odometer reading makes it possibly the most pristine GNX on the planet. After it was originally sold in Mena, Arkansas, it simply sat on display in a Texas dealership for decades. The seller purchased the car in 2002 and supposedly kept it in a climate-controlled environment. Plastic wrapping over the seats and door panels further the immaculate cleanliness. According to the listing, the only parts that have been replaced are the battery and a relay switch, both of which come with the sale. In a comment on the auction, the owner shared the reason he has decided to sell the car: Collecting is enjoyable only if you can share the collection with other people of similar mind who can also appreciate it. I am at a point in my life when the relationships, not the material possessions, mean the most to me. The time has come for someone else to own a piece of history and share it with those individuals most important in his or her life.