GM Pulling Chevrolet Out of Europe, Holden Out of Australia?
Of late, Ford has been diving headlong into a "global" vehicle and branding approach, but it appears that General Motors is going in the other direction. In fact, GM's Chevrolet division is putting the finishing touches on its exit from the European market as we speak. But why is this? If you take a look at what General Motors is doing overseas, you'll see that the Chevrolet brand doesn't have nearly as much recognition as its Opel/Vauxhall counterparts. In order for Chevy to see some sort of market growth, the plan is to let Opel/Vauxhall take over European operations, leaving Chevy to the Americas. Initially, this will lead to nearly a $1 billion dollar debt to GM, but in the long run, GM execs are hopeful that this will lead to stronger brand recognition of whats left, and stronger sales. The good news is, there is one Chevy staying in Europe. Yep, the new Corvette Stingray will remain.
Head a little farther East though, and more GM news is stirring Down Under. According to News.com.au, GM is questioning the future of its Holden brand. This news coming after Ford pulled its Australian production only a few months ago.
At the moment, GM Australia officials are fighting these claims, saying these speculations are "damaging" and in the long run could cause "50,000 jobs being lost," if found to be truthful. Right now reports tell us that Holden will stick around, but only until about 2016. We'll keep you updated as more information is released.
PHOTOS: See More of the 2014 Holden Ute SS V