Listen To The Story
Marketplace

General Motors is out — of Europe, that is. The carmaker is selling its two European car brands Vauxhall and Opel to a French carmaker called PSA Group, which owns Peugeot and Citroen. GM is selling its European brands for $2 billion and is agreeing to be on the hook for $4 billion in pensions and retirement plans. There are good reasons for GM quitting Europe — GM has not made money there in the 21st century.

Click the audio player above to hear the full story.