France's PSA Group has agreed to buy Opel from General Motors in a deal valuing the business at 2.2 billion euros ($2.3 billion), creating a new European car giant to challenge market leader Volkswagen.
Major automakers in the U.S. market are expected to show robust December auto sales on Wednesday, perhaps high enough for 2016 results to break the record high set the previous year, according to a poll by Thomson Reuters.
U.S. President-elect Donald Trump on Tuesday blasted General Motors Co. and threatened to impose a "big border tax" for making some Chevrolet Cruze cars in Mexico, which the U.S. carmaker defended as part of a strategy to serve global customers, not sell them in the United States.
Hefty consumer discounts during a robust Black Friday weekend helped boost November U.S. auto sales between 4 % and 5 %, which could catapult results this year above a record high in 2015, economists and industry analysts said.
General Motors Co agreed to pay $900 million and admit to misleading the government and the public about the safety of its vehicles to end a U.S. criminal investigation into its handling of defective ignition switches linked to 124 deaths.