Does the “Brexit” influenced the decision to sell Opel and Vauxhall to PSA?

brexit-influyo-decision-vender-opel-a-ps

responsible for PSA -Carlos Tavares – and GM -Mary-Barra – shake hands after announcing the purchase agreement

has Today made official the news that the last year would have been very difficult to imagine. The PSA Group, one of the leading manufacturers of automobiles european, with european brands of the american giant General Motors. Whether it is an earthquake, but in 2016, it could have been science-fiction, at least until the “Brexit”.

in mid-march of 2016, prime minister David Cameron was campaigning in favor of the “remain” (that is to say, to stay in the European Union) in front of a factory Vauxhall. The option of going outside, “Brexit” (british exit), won by a little more than half. It was a result very tight. Surprised all and sundry.

today the Uk is a member of the European Union yet, but has a status a little bit special. Not adopted the single currency (euro) and stays with the pound sterling. It is also not as subject to the eu regulations, as well as other members of the Union. In a way, were a little to your ball.

brexit-influyo-decision-vender-opel-a-ps

David Cameron, the Uk prime minister at the time, visited the factory in Luton (2015)

One of the effects of short term of that vote was a crash of the pound sterling against the euro and the dollar. The currency british retreated to levels from the time of Margaret Thatcher, and that for the manufacturers based in the Uk is a big problem. Vauxhall is one of them, but also splashed Opel, and thus, to General Motors.

are Also noticed in the sales

When they threw the first accounts, it was announced a projected loss of 400 million dollars. To the other side of the border, there is a good movement of components and vehicles. Vauxhall produces models of both brands, the same goes with Figueruelas and other plants of the group. Simplifying a little, Vauxhall is Opel with the steering wheel to the right, and the shield changed, the heritage of a historic brand british.

Before the “Brexit”, the european division of General Motors hoped to leave behind the red numbers, in which he wore pigeonholed since the year 2000. There were reasons, from January to June, it earned $ 137 million, the collapse came in the second half. The collapse of the pound had a final impact on the accounts, less the budgeted $ 300 million, but enough to throw on the ground the expected benefit. General Motors ran out of patience.

brexit-trabajo-alemania-201629823_1.jpg

¿Survive Vauxhall as a brand in the medium and long term?

When a manufacturer is in difficulties, it is attractive for its acquisition, because its price is lower. The division automotive of Opel and Vauxhall has been valued at only 1,300 million euros, a figure that is rare knowing that we speak of a macroempresa with nine production centers and 40,000 employees. There are many technological companies that are most valued.

Opel had 257 million dollars in losses in 2016

we don’t know if it was Carlos Tavares (PSA) has contacted Mary Barra (General Motors) or if it was the other way around. The case is that had it not been for the “Brexit”, Opel would be able to earn money, leave the losses behind, and GM would have more arguments to keep in the portfolio and these two european brands. Months before he had accomplished the flight from Chevrolet, introduced in the old continent in 2005.

Now the brand of the bow tie is like Cadillac, a brand of very low volume (only has the Camaro and Corvette), with very few dealers, and in Europe a piece of the pie is symbolic. Chevrolet, as we knew it, he sold tens of thousands of units. General Motors almost want to abandon the european market, and focus on the profitable markets for american and chinese.

industria-motor-britanica-calcula-costes

According to the SMMT british, you will lose approximately 5,300 million euros in tariffs according to the current figures

supporters of the “bremain” are seeing how their forecasts can become reality. Of the 21 factories of the new manufacturer, PSA-Opel, spare one or several. Those who are in a situation more delicate are those located within the United Kingdom: Luton and Ellesmere Port. Leaving the country outside of the EU, transfers of piecerío and cars are going to increase the prices without remedy to both sides of the fronera.

it Would be tempting for PSA to take that production any day of the archipelago, and to replace it in factories on the mainland. If that happens, Vauxhall will be exactly the same as Holden, a vestige of a mark-defunct already it is only a logo, all will fail out. More of a nationalist british this can hurt in more deep of your heart.

PSA is not having a particularly well-established in the british market, it does not have -today – no factory. We cannot say the same for Germany or France, where the majority of the productive force of PSA-Opel. at The end of the “Brexit” can be costly to the british much more expensive than they thought, or perhaps General Motors was thought to get rid also of Opel. As he was about to do so in 2009, but that was because General Motors declared bankruptcy. It is another story…