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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

Junkyard Gem: 1964 Buick Special sedan

During the 1960s, the most mainstream possible vehicle for American streets was a GM-built sedan, either a full-sized B-Body or a mid-sized A-Body. These cars flew out of showrooms by the millions during the decade, and the angular 1964-1967 A-Bodies (including everything from the affordable six-cylinder Chevrolet Chevelle to the maniacal Pontiac GTO) remain sought-after by collectors to this day... provided that they're two-door hardtops. The post sedans just don't get much attention in 2018, and that's why this fairly solid 1964 Buick Special sedan didn't get rescued on its way to this sorry fate in California. Its final days before it washed up in this self-service wrecking yard, nestled between GM iron a third its age, some used-car lot failed to get $1,199 for this '64. The interior looks good, much better than what you'll see on most unrestored cars with better than a half-century on the calendar. If this car had been a Skylark two-door hardtop, its story would have had a happier ending. The decklid suffers from the kind of rust that California cars get when they sit outside for decades and the weatherstripping goes bad, and then someone at the junkyard pried it open to look for trunk goodies. There's likely to be more rust under the window trim, too. The engine was long gone by the time I got here, but it would have been a 225-cubic-inch V6 or a 300-cubic-inch V8 when new. The upscale 1964 Skylark was the same car, mechanically speaking, but it a more luxurious interior and snazzier body trim. The car that follows the fun anywhere... and above all, it's a Buick! Related Video: Featured Gallery Junked 1964 Buick Special sedan View 14 Photos Auto News Buick Automotive History Classics Sedan

Junkyard Gem: 1992 Buick Century Woodie station wagon

The Detroit station wagon with fake-wood exterior paneling had a good long postwar run, but minivans and — increasingly — sport utility vehicles were giving such wagons quite a beating in the showrooms by 1992. Buick was down to just two woodies by 1992; here's a discarded example of the front-wheel-drive Century, spotted in a Northern California self-service yard. Buick sold big rear-wheel-drive Roadmaster wagons with Simu-Wood™ siding through the 1996 model year, but the smaller Century was fairly plush. American car shoppers didn't insist on real-looking "wood" on their wagons, although Chrysler went much more three-dimensional with their plastic wood that did GM during this era. This one has the 3.3-liter Buick V6 engine, rated at 160 horsepower. This is not to be confused with the unrelated GM 60° V6, which was available in earlier and later Centuries. If only these seats could talk, they'd tell many tales of sibling battles and spilled fast food. Related Video: