Thursday, 30 March 2017

!NEW! Eight Decades of Big Opel Cars: Flagship Parade at Techno Classica

  • Flagships at the Opel stand: From 1937 Admiral to the new Insignia
  • Center of classic car world: Techno Classica in Essen from April 5 to 11
  • Joint effort: Opel Classic and Alt Opel IG share exhibition stand

Opel flagships at Techno Classica: From Opel Admiral to All-New Opel Insignia Grand Sport


Opel’s big boys have got their sights firmly set on the 29th Techno Classica in Essen, where Opel Classic and the enthusiasts from Alt Opel IG (vintage Opel owners club) will exhibit big cars from Rüsselsheim from both past and present. “The Opel Flagships” is this year’s motto and the cars will be on show at the stand with a total surface area of 400 square meters in Hall 2. The legendary pre-WWII Admiral that celebrated its premiere in 1937 is the spearhead of the Opel fleet. It is hard to imagine that the wonderful art déco style chassis is already 80 years old when you see it up close. The journey through time continues with the two millionth Opel produced, a 1956 Kapitän. Typical representatives of the KAD models such as a 1968 Diplomat A and a 1970 Opel Admiral – two true street cruisers – are also present. The 1978 Senator A is a typical design from the somewhat more matter-of-fact 1970s, whereas the new Opel flagship, the Insignia Grand Sport, demonstrates Opel’s current design philosophy of “Sculptural artistry meets German precision”.

Eight decades of “Big Opels”: Legendary 1937 Opel Admiral and All-New Opel Insignia Grand Sport.

From 1937 to 2017: From the Opel Admiral to the new Opel Insignia Grand Sport

The large Opel cars can look forward to enjoying the limelight at the Techno Classica in Essen – just like they did in Rüsselsheim 80 years ago. To mark the 75th anniversary of the Adam Opel AG on February 17, 1937 the company presented two visionary newcomers: The Admiral and the Super 6. Both cars were equipped with modern engine technology. Inline sixes with displacements of 3.6 and 2.5 liters and 75 hp and 55 hp respectively. The Admiral was the first member in a line of luxurious models that continued for 40 years. The Super 6 paved the way for the popular 1938 Kapitän.

Ten years later the first post-WWII Kapitän left the plant and the economic miracle saw it rise meteorically. The Opel Kapitän was one of the bestselling six cylinders in Germany and became an international bestseller with 60 percent of all Kapitäns being exported. The Kapitän built on November 9, 1956, and on display in Essen plays a special part in the success story. As the two millionth Opel ever built, its roof was painted in gold and it also sports 24-carat gold plated decorative elements. Opel was the first German and European carmaker to surpass the two-million mark.

The Opel upper class was completely overhauled in 1964. The “Big Three” were called Kapitän, Admiral and Diplomat and for the first time in its history Opel offered V8 engines. The ranking order in the premium class was determined by equipment and engine size. The Kapitän and Admiral initially came with Opel’s proven 100 hp, 2.6 liter six-cylinder engine, whereas the Diplomat’s engine was sourced from the United States. The flagship of the KAD series featured a 4.6 liter V8 with 190 hp. As of the spring of 1965 both the Kapitän and the Admiral could optionally be ordered with the 4.6 liter V8 engine and automatic transmission used in the Diplomat. To this very day the Kapitän and Admiral V8s are models with a special status: Only 113 units of the Kapitän and 622 units of the Admiral were built.

The members of the second KAD range were completely overhauled from 1969 – and grew in all areas. The Kapitän once again represented the entry-level KAD model. Its 2.8 liter inline six delivered 132 hp. Above it, sat the comfortable Admiral that delivered 145 hp at the 2800 S variant and 165 hp as the Admiral 2800 E. The top-of-the-line engine was the 5.4 liter V8 with 230 hp that came as standard in the Diplomat.

40 years after the Admiral made its debut, the company brought another new big Opel to market. From 1977, the Senator was the spearhead of the model portfolio. The Senator and its coupé sibling the Monza were the first Opel cars with independentl rear suspension and space-saving mini-block coil springs.

Another four decades down the line, eighty years after the Admiral, the time has come for another major debut: The new Opel Insignia Grand Sport will make its first home appearance at the Techno Classica.

The all-new Opel Insignia is in extremely good shape. It has the sporty elegance of a large coupé, its completely new architecture makes it uncompromisingly spacious and truly fun to drive, and it offers exemplary safety and comfort features just as a true flagship should. Not only does the second-generation Insignia impress with its breathtaking lines on the outside and great wellness atmosphere on the inside, it also provides the widest range of intelligent technologies reaching from the trendsetting Opel IntelliLux LED Matrix headlights and the very sophisticated all-wheel drive system with torque vectoring to ultra-modern driver assistance systems and a refined head up display. In addition, the Insignia comes with Opel-typical first-class connectivity with smartphone integration which now offers a new Opel OnStar feature – the Personal Assistant which allows Opel Insignia occupants to book hotel rooms[1] and search for parking[2] via an OnStar Advisor. Overall, the new Opel Insignia wows with high agility and driving precision, more space and a superb price-performance ratio that now more than ever make it a contender to be reckoned with, even for premium brand models.

[1] Via E-mail address and credit card required.
[2] Via Parkopedia

Wednesday, 29 March 2017

!NEW! Excellent Residual Value Forecast for Opel Astra

Bähr & Fess gives Astra highest retained value in its class

Quality counts: Bähr & Fess certifies the residual value of the Opel Astra as the highest in its class.

Around 400,000 units of the Opel Astra have been ordered since its introduction in 2015. Buyers of the compact Opel not only enjoy a well-engineered and attractive looking car, but also high residual values. In their newest forecast, Bähr & Fess confirm that the Astra offers the highest retained value in its class. With depreciation of only 41.5 percent after three years (60,000 kilometers) the Astra is two percentage points ahead of the second placed VW Golf (43.5 percent depreciation). The following places are occupied by the Audi A3 (44.5 percent), the Seat Leon and Skoda Octavia (both 46.5 percent) and the BMW 1-series (47 percent). According to Bähr & Fess, customers of the Ford Focus can expect the highest depreciation among compacts cars (52 percent).

Safe investment: With depreciation of only 41.5 percent after three years the Opel Astra is best in class.

“Our Opel Astra is a serial winner in comparison tests, has received numerous prizes and has now come out on top in an especially hard-fought contest,” said Peter Küspert, Vice President Sales and Aftersales. “The Astra’s high residual values confirm the excellent quality of our bestseller. Private customers as well as fleet operators can be sure that buying an Opel Astra is a good investment.”

Tuesday, 21 March 2017

!NEW! Production Start for All-New Opel Insignia Grand Sport and Sports Tourer

  • More than €500 million investment in production preparation
  • Opel Insignia Grand Sport in abalone white stars at employee event
  • Opel CEO Dr. Neumann praises work so far and emphasizes importance of All-New Opel Insignia

All systems go: Opel CEO Dr. Karl-Thomas Neumann, Plant Manager Michael Lewald, Deputy Chairman of the Works Council Uwe Baum (from left to right) and the Rüsselsheim team celebrate the start of regular production of All-New Opel Insignia.

A new era begins today at Opel’s home plant in Rüsselsheim; the first Opel Insignia Grand Sport produced to customer order officially rolled off the assembly line on Tuesday. “We have been looking forward to today for a long time; our new flagship has finally arrived. This is an important day for Opel and Rüsselsheim,” said Opel CEO, Dr. Karl-Thomas Neumann during the celebrations for the start of production of the second generation Opel Insignia. We invested more than €500 million just to prepare for the production of our new flagship.” An Insignia Grand Sport in abalone white with 170 hp 2.0 liter diesel engine stood in the spotlight at the end of the production line.

Deputy Works Council Chairman, Uwe Baum said: “The team here in Rüsselsheim has once again demonstrated that they can deliver smooth production start-ups enabling great cars to leave the assembly line. The Works Council is especially grateful to them today, because the new Opel Insignia is an important part of the future for Opel, which would not be possible without the input of these colleagues.”

Dr. Karl-Thomas Neumann also praised the work of the whole team in the Rüsselsheim plant and added: “The new Opel flagship is a core element of our product offensive, which will reach a new peak with seven new models this year alone.”

Plant Manager, Michael Lewald thanked his workforce for their great efforts in successfully preparing and executing the start of production during the last months. “Our team did another great job and superbly executed this highly complex production-start. I am proud of our new flagship and the performance of the Rüsselsheim team.”

Production-start for Opel flagship: All-New Insignia Grand Sport and Sports Tourer (right).

The order books for the new Opel Insignia Grand Sport and Sports Tourer opened on February 16. The first three production cars are destined for Poland, Denmark and Germany. The new Opel flagship just made its official world premiere at the Geneva Motor Show. The car will be in dealer showrooms this summer.

Dr. Neumann is confident that the new edition of the Opel flagship will continue the success of its predecessor. Nine hundred and forty thousand (940,000) units of the first generation Opel Insignia – The 2009 European Car Of The Year – have been sold in total, making it the fourth best-selling Opel model.

Based on an all-new vehicle structure, the new Insignia is up to 200 kilograms lighter than its predecessor as well as lower and more spacious inside. The design is athletic yet elegant. One of the technology highlights is the intelligent all-wheel drive system with torque vectoring – torque distribution to individual wheels within milliseconds. The new Insignia also offers a host of driver assistance systems that contribute to safety and make driving more comfortable and relaxing, such as the second-generation IntelliLux LED Matrix headlights, Adaptive Cruise Control (ACC) and active lane assist.

Tuesday, 7 March 2017

!NEW! Opel Exclusive Debuts in Geneva: Your Car, Your Choice, Your Color

    Make it yours: New Opel Exclusive program will allow customers to choose from an unlimited amount of colors for their new Insignia.

    • New level of personalization: New Opel Exclusive concept presented at Geneva Motor Show
    • Unlimited choice: Customers can now stand out with the color of their choice
    • Additional options: Exclusive wheels, leather options and design details available
    •   Style and profile: 4K digital showroom to configure and share

    When Opel launched the ADAM in 2013, it not only marked the introduction of a new small car to the market – it also tapped in to the increasing demand for more personalization and individualization. 

    Ever since then, the company has been looking into extending this service and introducing a program that allows a growing amount of customers to configure their car according to their own personal taste. With the introduction of the new Opel Insignia, the Rüsselsheim-based carmaker will offer a new level of individualization called Opel Exclusive. In a first step, it will provide Opel Insignia buyers with an unlimited choice of colors and a selection of alloy wheels. Later, customers will also have access to an assortment of leather options and other design details that will enable them to create a car that stands out from the crowd and reflects their personal choice.

    Selecting the perfect color for a new car can sometimes prove to be more difficult than first meets the eye. The red offered by the carmaker might be too dark, the blue too light or the green tone too close to mint according to personal taste. Therefore, customers sometimes have to accept a compromise when purchasing the car they really want. Opel will be the first volume manufacturer to introduce a solution for this conundrum with the launch of the Opel Exclusive program during the Geneva Motor Show. However, despite the name maybe suggesting otherwise – Exclusive does not mean elitist or only accessible to a select few. Instead, the name reflects Opel’s desire to give customers the chance to create something that is exclusive to their own personal taste, enabling them to reward themselves via personal expression in a way that adds value for them.

    “Opel Exclusive almost knows no limits. Individualized colors, customizable design details and inimitable comfort features help you create the Insignia of your choice and exactly how you want it. Literally unique to you,” said Opel CMO Tina Müller.

    Stand out from the crowd with your exclusive color

    When customizing their new Opel Insignia, Opel Exclusive customers can choose from up to 15 pre-defined colors ranging from Electric Yellow to Pure Black or from Scorpio Grey to Power Blue. These are available in addition to the regular colors and solely available to Opel Exclusive clients. However, this is by no means all. Customers looking for even more individualization can create their own color no matter whether it is the shade of their favorite silk tie or the color of the eyes of a loved one. 

    The Opel experts will match the color when a sample is provided so that everybody can have a car in their preferred color.

    With the choice of color made, Opel Exclusive customers can add a further level of customization by selecting what they want the paintwork to say about them. Opel will offer three distinctive finishes. The tri-coat paint finish is an innovative mixing ratio. It owes its intensive and smooth appearance to the three-layer coating. The metallic paint finish reflects more incident light, which gives the paint its sparkling shine. And the pearl paint finish dazzles with fine layers of crystals embedded in the paint finish that help bring out an exceptionally natural pearly shine.

    In addition to the choice of color and paint finish, Opel Exclusive will also offer a selection of four new and exclusive alloy wheels to help customers create their own unique car. Ranging from 18 to 20 inches, the wheels bring a new level of pure dynamism to the Insignia with their breathtaking design. Additionally, going forward Opel will offer a range of exclusive leather options and decorative design elements so that customers can customize the car even further.

    New digital showroom to configure and share

    As part of the Exclusive program, Opel will also be exploring new digital solutions such as showroom images in 4K, an ultra-high definition resolution, and augmented reality to allow customers to easily experience their new vehicle in amazing definition while enjoying an immersive experience. The focus is on creating state-of-the-art digital experiences following the mobile first principle and allowing customers wherever they are to experiment when configuring their own personal car. Once they have configured the car of their dreams, potential buyers can then share their ideas with their social media network.

    Opel Insignia buyers will be able to use the Exclusive program to personalize their car as of this summer. Prices will be communicated closer to the official market launch.

    !NEW! CEO Dr. Karl-Thomas Neumann Opens Opel Stand at Geneva Motor Show

    • New possibilities: Opel and Vauxhall in future under one roof with PSA
    • Good cooperation: Presentation of the Opel Crossland X developed with PSA
    • Dynamic duo: World premiere of Opel Insignia Grand Sport and Sports Tourer

    Major appearance in Geneva: Opel CEO Dr. Karl-Thomas Neumann presents the new Opel Insignia Grand Sport and the new Opel Crossland X.

    The Opel/Vauxhall stand at the 87th Geneva Motor Show (March 7‑19) was opened this morning by Dr. Karl-Thomas Neumann. In front of an audience of around 400 international journalists, the Opel Group CEO spoke about the alliance with the PSA Group announced in Paris the day before. Later he presented the Opel Crossland X crossover that has already been developed together with PSA. Finally there was the world premiere of the second-generation Opel Insignia. Dr. Neumann revealed, together with vice president of design, Mark Adams, Opel Insignia Grand Sport five-door liftback and the spacious Insignia Sports Tourer.

    From Opel Monza Concept to the Opel Insignia Grand Sport: Mark Adams, Vice President Design presents the all-new Opel flagship.

    Speaking today about the new possibilities for the brand under the roof of PSA, Opel CEO Neumann said “We now have the chance to create a real European champion. We will benefit from the new scale but also from the joint vehicle development and the strengths of both our companies with their highly motivated and highly qualified employees.”

    Opel and PSA have already been working together closely for four years. In Geneva Dr. Neumann presented the stylish Opel Crossland X, the first successful result of the joint vehicle development.

    Cool crossover with ultra-modern technologies

    Good cooperation: Presentation of the Opel Crossland X developed with PSA.

    The Crossland X is the second member of the Opel family with the X in its name. While the popular Opel Mokka X is a typical SUV with the option of all-wheel drive for occasional trips off-road, the new Opel Crossland X with its compact exterior dimensions is designed for the urban lifestyle; it is also spacious and comfortable for the holidays. The driver and passengers enjoy the high seating positions typical of a SUV, in a body that is 16 centimeters shorter but 10 centimeters taller than that of the Opel Astra. Opel’s new crossover model comes with ultra-modern technologies that make everyday life safer, simpler and more pleasant. Optional innovative Full-LED headlamps, a head up display and the Panoramic Rear View Camera along with Advanced Park Assist, Lane Keep Assist, Speed Sign Recognition, Driver Drowsiness System and Side Blind Sport Alert are just some examples. Opel OnStar and the modern IntelliLink infotainment systems, which are, depending on the end device, compatible with Apple CarPlay and Android Auto, ensure outstanding digital connectivity.

    New flagship: World premiere for new generation Opel Insignia

    The all-new Opel Insignia is in extremely good shape. It has the sporty elegance of a large coupé, its completely new architecture makes it uncompromisingly spacious and truly fun to drive, and it offers exemplary safety and comfort features just as a true flagship should. Not only does the second generation Insignia impress with its breathtaking lines on the outside and its great wellness atmosphere on the inside, it also provides the widest range of intelligent technologies reaching from the trendsetting Opel IntelliLux LED Matrix headlights and the very sophisticated all-wheel drive system with torque vectoring to ultra-modern driver assistance systems and the refined head up display. The active aluminum hood for improved pedestrian protection rounds off the significant increase in safety. In addition, the Insignia comes with first-class connectivity with smartphone integration, which now offers a new Opel OnStar feature – the Personal Assistant. It allows Insignia occupants to book hotel rooms[1] and search for suitable parking spots[2] via an OnStar Advisor – indeed a real person and not a computer. A 360o degree camera, an eight-speed automatic transmission and intelligent all-wheel drive with torque vectoring (torque distribution to individual wheels) are available for the first time. Together with efficient new generation turbo engines, weight reduction of up to 200 kilograms (depending on the variant) and a lower seating position, the new Opel Insignia Grand Sport and Sports Tourer are more agile than ever before and give the driver a direct and rewarding driving experience.

    1 Via E-mail address and credit card required.
    2 Via Parkopedia.

    Monday, 6 March 2017

    Opel / Vauxhall to join PSA Group

    • Establishes PSA Group as #2 in Europe. This strong and balanced presence in its home markets will serve as the basis of profitable growth worldwide
    • Joint venture in auto financing with BNP Paribas to support development of Opel/Vauxhall brands
    • €2.2 Bn transaction advances GM’s transformation and unlocks shareholder value through disciplined capital allocation

    Change of ownership at Opel/Vauxhall: PSA Group CEO, Carlos Tavares and GM CEO, Mary Barra at the press conference in Paris.

    General Motors Co. and PSA Group today announced an agreement under which GM’s Opel/Vauxhall subsidiary and GM Financial’s European operations will join the PSA Group in a transaction valuing these activities at €1.3 Bn and €0.9 Bn, respectively.

    With the addition of Opel/Vauxhall, which generated revenue of €17.7 Bn in 20161, PSA will become the second-largest automotive company in Europe, with a 17% market share2.

    Creates sound European foundation for PSA to support its worldwide profitable growth

    “We are proud to join forces with Opel/Vauxhall and are deeply committed to continuing to develop this great company and accelerating its turnaround,” said Carlos Tavares, chairman of the Managing Board of PSA. “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. Having already created together winning products for the European market, we know that Opel/Vauxhall is the right partner. We see this as a natural extension of our relationship and are eager to take it to the next level.”

    Summit in Paris: PSA Group CEO, Carlos Tavares; GM CEO, Mary Barra and Opel CEO, Dr. Karl-Thomas Neumann.

    “We are confident that the Opel/Vauxhall turnaround will significantly accelerate with our support, while respecting the commitments made by GM to the Opel/Vauxhall employees,” continued Mr. Tavares.

    Advances GM’s Transformation and Unlocks Value

    “We are very pleased that together, GM, our valued colleagues at Opel/Vauxhall and PSA have created a new opportunity to enhance the long-term performance of our respective companies by building on the success of our prior alliance”, said Mary Barra, GM chairman and chief executive officer.

    “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.

    “We believe this new chapter puts Opel and Vauxhall in an even stronger position for the long term and we look forward to our participation in the future success and strong value-creation potential of PSA through our economic interest and continued collaboration on current and exciting new projects,” Ms. Barra concluded.

    Strengthens Each Company for the Long Term

    The transaction will allow substantial economies of scale and synergies in purchasing, manufacturing and R&D. Annual synergies of €1.7 Bn are expected by 2026 – of which a significant part is expected to be delivered by 2020, accelerating Opel/Vauxhall’s turnaround. Leveraging the successful partnership with GM, PSA expects Opel/Vauxhall to reach a recurring operating margin3 of 2% by 2020 and 6% by 2026, and to generate a positive operational free cash flow4 by 2020.

    PSA, together with BNP Paribas, will also acquire all of GM Financial’s European operations through a newly formed 50%/50% joint venture that will retain GM Financial’s current European platform and team. This joint venture will be fully consolidated by BNP Paribas and accounted under the equity method by PSA.

    The transaction is another step in GM’s ongoing work to transform the company, which has delivered three years of record performance and a strong 2017 outlook, and returned significant capital to shareholders. It will strengthen GM’s core business, support its continued deployment of resources to higher-return opportunities including in advanced technologies driving the future, and unlock significant value for shareholders.

    By immediately improving EBIT-adjusted, EBIT-adjusted margins and adjusted automotive free cash flow and de-risking the balance sheet, the transaction will enable GM to lower the cash balance requirement under its capital allocation framework by $2 Bn, which it intends to use to accelerate share repurchases, subject to market conditions.

    GM will also participate in the future success of the combined entity through its ownership of warrants to purchase shares of PSA. GM and PSA also expect to collaborate in the further deployment of electrification technologies and existing supply agreements for Holden and certain Buick models will continue, and PSA may potentially source long-term supply of fuel cell systems from the GM/Honda joint venture.

    Additional Information

    Terms of the Agreement

    Opel/Vauxhall automotive operations will be acquired by PSA for €1.3 Bn. GM Financial’s European operations will be jointly acquired by PSA and BNP Paribas for 0.8 times their pro forma book value at the closing of the transaction, or approximately €0.9 Bn.

    The transaction has a total value of €2.2 Bn, for Opel/Vauxhall automotive operations and 100% of GM Financial’s European operations.
    The transaction value for PSA, including Opel/Vauxhall and 50% of GM Financial’s European operations, will be €1.8 Bn.

    In connection with this transaction, GM or its affiliates will subscribe warrants for €0.65 Bn. These warrants have a nine-year maturity and are exercisable at any time in whole or in part commencing 5 years after the issue date, with a strike price of €1. Based on a reference price of €17.34 for the PSA share5, the warrants correspond to 39.7 MM shares of PSA, or 4.2% of its fully diluted share capital6. GM will not have governance or voting rights with respect to PSA and has agreed to sell the PSA shares received upon exercise of the warrants within 35 days after exercise.

    The transaction includes all of Opel/Vauxhall’s automotive operations, comprising Opel and Vauxhall brands, six assembly and five component-manufacturing facilities, one engineering center (Rüsselsheim, Germany) and approximately 40,000 employees. GM will retain the engineering center in Torino, Italy.

    Opel/Vauxhall will also continue to benefit from intellectual property licenses from GM until its vehicles progressively convert to PSA platforms over the coming years.

    In connection with the transaction, GM will take a primarily non-cash special charge of $4.0-4.5 Bn.

    Ongoing Pension Fund Commitments

    All of Opel/Vauxhall’s European and U.K. pension plans, funded and unfunded, with the exception of the German Actives Plan and selected smaller plans will remain with GM. The obligations with respect to the German Actives Plan and these smaller plans of Opel/Vauxhall will be transferred to PSA. GM will pay PSA €3.0 Bn for full settlement of transferred pension obligations.

    Closing Conditions

    The transaction is subject to various closing conditions, including regulatory approvals and reorganizations, and is expected to close before the end of 2017.


    The issuance of the warrants is subject to the vote of shareholders at PSA’s General Meeting of May 10th, 2017. The three main shareholders of PSA (the French State, the Peugeot family and DongFeng) representing in aggregate 36.6% of the share capital and 51.5%7 of the voting rights of PSA have undertaken to vote in favor of the resolution related to the issuance of the warrants to GM. In the event the warrant issuance reserved to GM and its affiliates is not approved by PSA’s General Meeting, PSA will settle the €0.65 Bn in cash over five years.

    About PSA Group

    With sales and revenue of €54 billion in 2016, PSA Group designs unique automotive experiences and delivers mobility solutions that provide freedom and enjoyment to customers around the world. The Group has three car brands, Peugeot, Citroën and DS, as well as a wide array of mobility and smart services under its Free2Move brand, to meet the evolving needs and expectations of automobile users. The automobile manufacturer PSA is the European leader in terms of CO2 emissions, with average emissions of 102.4 grams per kilometer in 2016, and an early innovator in the field of autonomous and connected cars, with 2.3 million such vehicles worldwide. It is also involved in financing activities through Banque PSA Finance and automotive equipment via Faurecia.

    PSA Group Forward-Looking Statements

    This press release includes forward-looking statements and information about the objectives of PSA Group, in particular, relating to the acquisition of GM’s Opel/Vauxhall subsidiary and GM Financial’s European operations, and corresponding expected synergies. These statements are sometimes identified by the use of the future tense or conditional mode, as well as terms such as “estimate”, “believe”, “have the objective of”, “intend to”, “expect”, “result in”, “should” and other similar expressions. It should be noted that the realization of these objectives and forward-looking statements is dependent on the circumstances and facts that arise in the future. Forward-looking statements and information about objectives may be affected by known and unknown risks, uncertainties and other factors that may significantly alter the future results, performance and accomplishments planned or expected by PSA Group. These factors may include changes in the economic and geopolitical situation and more generally those detailed in Chapter 1.5 of the reference document filed with the Autorité des marchés financiers (the “AMF”) on 24 March 2016 under no. D.16-0204.

    1 Opel/ Vauxhall financials correspond to financials of the contributed entity
    2 Excluding Russia and Turkey. Source: IHS (February 2017)
    3 IFRS. Subject to full review of US GAAP – IFRS differences
    4 Defined as recurring operating income + D&A – restructuring costs – capex – capitalized R&D – change in working capital
    5 Reference price is the 20-day volume-weighted average share price of PSA as of February 13th, 2017 (pre-leak of February 14th, 2017)
    6 Based on 907 MM fully diluted shares outstanding
    7 Based on a fully diluted number of shares outstanding of 907 MM shares, pro forma the exercise of all outstanding 2014 warrants