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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

This 1988 Buick LeSabre Estate Wagon looks like a boxy, wood-sided bargain

The growing interest in 1980s cars has meant that General Motors' full-size B-body station wagons of the era are now attracting the interest of collectors as well as iconoclasts seeking an SUV alternative. This 1988 Buick LeSabre Estate Wagon for sale right now on eBay Motors, looks to be a tempting example of the genre. It has covered just 72,000 miles and is described as a "rust-free southern car." The A/C is said to be cold, and it's equipped with power windows, a split-bench front seat and a rear-facing third seat. Whereas the Electra was the wagon for the finest estates, the LeSabre presumably was for those that were one rung down, so it has a slightly more downmarket maroon cloth interior where the Electra would have velour. Yet this LeSabre Estate Wagon is still slathered in a full complement of woodgrain siding, and this car sports a factory set of wire wheel covers. We're told the 5.0-liter V8 sound great, while the paint is said to be "a little tired" and one headlight looks like it needs to be replaced. The "Buy It Now" price is $8,500, and the seller is also inviting offers. Plus, 1% of the sales price benefits St. Jude's Children's Research Hospital, so there's a feel-good factor. For comparison, this wagon's Oldsmobile twin currently being auctioned on Bring a Trailer already has been bid past $8,900 for four days still to go in the auction. This '83 Custom Cruiser has 74,000 miles and looks maybe a little spiffier, but not a lot more so. The seller of this Oldsmobile includes a video in his listing, and in it he appears to be not wearing pants. Sometimes it's all about presentation. Related Video:

The last Buick Cascada unceremoniously rolls off the assembly line

Motorists in the market for a new Buick Cascada need to act fast. Peugeot-owned Opel has built the last example of the drop-top model in its Gliwice, Poland, factory, and there's no replacement in sight. Buick announced the Cascada's demise in early 2019, and GM Authority learned the model went out unceremoniously. There's no indication that the final example received a commemorative plaque on its dashboard, or is headed to a private collection; photos of it aren't even available. The dealership who ordered it might not know it's about to receive the last specimen of the breed. As a non-luxury, front-wheel-drive convertible, the Cascada was marooned on an island that Buick's rivals abandoned halfway through the 2010s. The Chrysler 200 Convertible and the Volkswagen Eos were discontinued after the 2014 and 2015 model years, respectively. Landing in a class of one likely raised more than a few eyebrows in Buick's product planning division, but it was a semi-enviable position that helped the firm sell about 17,000 units of the Cascada between the 2016 and 2019 model years. It proudly pointed out about 60 percent of buyers were new to General Motors. Left-hand-drive examples of the Cascada were sold under the Buick and Opel banners. Right-hand-drive models joined the Vauxhall range in the United Kingdom, and they wore a Holden emblem in Australia. The four flavors were identical with the exception of some brand-specific trim pieces and powertrains. None will get a successor; the aforementioned carmakers are no longer operating under the same roof, and the global convertible segment is steadily shrinking.  The Cascada's multinational provenance made more sense before General Motors sold its Opel and Vauxhall divisions to PSA Groupe, the Paris-based carmaker that owns Peugeot, Citroen and DS. The French firm pledged to keep producing cars for Buick for as long as necessary, but the former sister companies tacitly agreed to stop co-developing vehicles. The sedan and station wagon variants of the Regal are now the only Opel-designed, PSA-built model left in the the Buick portfolio.