French carmaker moves swiftly to stamp authority on Opel, Vauxhall

Frankfurt

PSA Group put new managers in place at Opel and Vauxhall on Tuesday, completing a 2.2 billion euro (S$3.5 billion) takeover which helps the French company to become Europe's second-largest carmaker by sales.

General Motors is selling off its loss-making European operations to the owner of the Peugeot, DS and Citroen brands, which has a better track record of profitability in the business of manufacturing small cars in Europe.