GM announces end of Chevrolet brand in Europe
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December 09,2013
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General Motors has announced that it will no longer use the Chevrolet brand in Europe as a “mainstream presence” starting in 2016 in Western and Eastern Europe, citing a “challenging business model and difficult economic situation.” GM will instead use its Opel and Vauxhall brands in those markets. GM hopes that consolidating its brands will more clearly define its market strategy. GM assures that it will continue to provide warranty, parts, and service for Chevrolet vehicles in Europe. Chevrolet will still be used in Russia and the former Soviet republics. GM will record special charges related to the winding down of the Chevrolet brand in Europe, of $700 to $1 billion in the fourth quarter 2013 and first half 2014. This special charges include asset impairment, dealer restructuring, sales incentives and severance costs.
Meanwhile, Cadillac will prepare for a larger presence via the introduction of more models.
The sole surviving Chevrolet in Europe will be the Corvette.
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