So GM’s dreams of ridding itself of its financially troubled Opel-Vauxhall subsidiaries aren’t likely to be met. PSA reported profits Thursday, defined as recurring operating income, jumped nearly 20% to 3.24 billion euros ($3.4 billion) in 2016 compared with the previous year. Last week PSA, which owns the mass-market Peugeot, Citroen, and DS upmarket brands, and GM announced they were talking merger. PSA has staged a remarkable recovery over the last three years, turning life-threatening losses into fat profits. Opel-Vauxhall has been a chronic loss-maker in the 21st century, although it has always promised that profits are just around the corner.

Source: Forbes February 23, 2017 12:33 UTC