Cadillac is planning return to Europe as an EV maker Comments

52

• Greg
• nRd
• 17 May 2022

MaxMcDee, 17 May 2022You are absolutely right Greg! GM bought Opel back in 1929 and sold it to PSA in 2017. Quick j... moreI didn't know that GM bought Opel in 1929, I though that was way more recent (198x tops), as for the price, I think at the time of a bit before, they were struggling a lot, but I don't remember exactly when was that period. I must assume that could be when they sold it to PSA since GM wanted to exit EU market - We had a manufacturing plant for Opel here in Belgium and the closing from GM cost some money to the government (Incentives and financial break / they took a lot and then closed shop :P)

Thanks for the infos - appreciated! :)

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• MaxMcDee
• Stf
• 17 May 2022

Greg, 16 May 2022When you said that Opel sold well in Europe, that's mainly because it's from Germany... moreYou are absolutely right Greg! GM bought Opel back in 1929 and sold it to PSA in 2017. Quick jump to "inflation calculator" reveals interesting fact - GM paid for Opel $33 million in 1929 which in today's money is $558 million. GM sold it to PSA for $2.2 billion - not a bad deal for GM. As for the rest of us - different story.

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52

• Greg
• nRd
• 16 May 2022

When you said that Opel sold well in Europe, that's mainly because it's from Germany originally (Founded by Adam Opel in 18xx if my memory is correct). Then bought by GM when they were in financial distress and then sold to Stellantis that now use the brand as a clone from PSA model. Everything is the same on so many models that it's truly horryfing to see :p

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• Rawstar
• mFd
• 16 May 2022

Nice

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