The company sold Opel and Vauxhall in 2017
GM has not entirely left Europe since it sells some Corvette and Cadillac models there
The automaker plans to reintegrate the market, but only with EVs
When General Motors sold Opel and Vauxhall to the PSA Group (which formed Stellantis after merging with FCA), the automaker left Europe after close to 90 years selling cars there.
The company didn’t entirely leave, since it still offers the Corvette and some Cadillac models to European buyers, but this is a very small operation.
According to the CEO, the automaker is now looking at rejoining the European market after five years of absence but this time, it will only sell electric vehicles.
This is because EVs are very popular in Europe and GM wants its share of the profits. The company didn’t say which models will mark its return on the continent, but the Cadillac Lyriq and the upcoming Chevrolet Equinox EVs are likely candidates.
The sale of Opel and Vauxhall might actually have helped the company in its EV transition since the money generated from it was invested into new EVs for North America and China, the two largest markets for GM, and into autonomous driving systems.
This sale thus funded the creation of GM’s Super Cruise driver assistance system which is one of the most advanced available on the market.
Another reason why selling the two storied brands was a good move, both for General Motors and for the brands themselves is that Opel and Vauxhall had been losing money for 16 consecutive years before they were sold to PSA, who made them profitable in its first twelve months of ownership.
The automaker has not said when it intends to introduce new models to Europe, but this plan is not completely new, since it was already hinted at back in November of 2021.