Chevrolet fans in Europe have received a blow as General Motors has revealed that it decided to pull out of Europe. The firm declared that it is ‘strengthening’ its ‘European brand strategy’ by pulling Chevrolet out of major markets in Western and Eastern Europe.
General Motors explained that this decision is ‘largely due to a challenging business model’ and ‘the difficult economic situation.’ However, the good news is that Chevrolet will not disappear entirely.
Instead, Chevrolet will continue its presence by offering only select ‘iconic’ vehicles from the marque’s global portfolio. The reference here is to new C7 Stingray which has been recently released in the United States. The new C7 Stingray is still expected to appear in Europe in 2014.
GM has confirmed that its Cadillac brand will also be expanding in Europe over the next three years. The move is intended to help GM’s other European brands Vauxhall and sister company Opel by removing the complexity of having both these and Chevrolet competing in the same marketplaces.
Most European Chevrolets are now built in South Korea (by Daewoo); many of these will continue to be offered in Russia and Commonwealth of Independent States.
GM chairman and CEO Dan Akerson said, “Europe is a key region for GM that will benefit from a stronger Opel and Vauxhall and a further emphasis on Cadillac. For Chevrolet it will allow us to focus our investments where the opportunity for growth is greatest…This is a win for all four brands. It’s especially positive for car buyers throughout Europe, who will be able to purchase vehicles from well-defined, vibrant GM brands.”
Chevrolet’s mainstream demise is scheduled for the beginning of 2016. That’s a good two years away yet.
