General Motors has officially agreed to sell its Opel and Vauxhall brands to the PSA Group as the Detroit automaker attempts to stanch more than a decade of staggering losses in Europe.

"The company thrives when we have fresh product, it is just as simple as that," Ford's president of global markets, Jim Farley, told CNBC after unveiling the new Explorer. "With this new line-up of utilities.......

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