Filed under:
Europe,
Cadillac,
Chevrolet,
Opel,
Vauxhall
If you've taken even a cursory look at GM's European strategy and wondered how it can target the market there with both
Chevrolet and
Opel/
Vauxhall, you're not alone. In fact
General Motors itself has found it difficult to justify the two-pronged approach. That's why it's essentially pulling Chevy from the European marketplace.
Instead of trying to ply European buyers with what are mostly former
Daewoo products rebadged as Chevys, GM will now let Opel (or Vauxhall in the UK) represent its mass-market aspirations. Chevrolet will keep its presence in Russia and other former Soviet markets, and will continue selling certain niche products in Eastern and Western Europe. The
Corvette, for example, has long been sold in Europe through
Cadillac dealerships, which for its part is currently "finalizing plans for expanding in the European market".
While the shift in strategy is expected to help GM get a stronger foothold in the European market in the long run, in the short term the restructuring will cost it dearly: between $700 million and $1 billion, according to its own estimates, split between the last quarter of this year and the first half of the next. Jump into the full
press release below for more.
Continue reading GM winding down Chevrolet brand in Europe
GM winding down Chevrolet brand in Europe originally appeared on
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17-12-2013, 02:20 PM
