Almost at the same time Ford was unveiling its first ever Mustang for Europe, US auto giant GM announced that it was to stop offering its Chevrolet brand in the continent.
Chevrolet has failed to gain sufficient market share in both West and East Europe, largely due to the economic climate, but also due to offering a range of products that couldn’t quite compete with the established players, particularly rival Ford.
The brand will disappear by the end of 2015, with GM focusing on developing its more popular Vauxhall and Opel brands in an attempt to revitalise its European operation.
"We have growing confidence in the Opel and Vauxhall brands in Europe. We are focusing our resources in mainstream Europe," said Stephen J. Girsky, GM vice chairman, reported Reuters.
Chevrolet appeared in the UK back in 2005, though not with the iconic Corvette and Camaro muscle cars, but with re-badged Korean Daewoos, which were thought to appeal more to cost-conscious European drivers.
However, European sales figures have hovered around 200,000 cars, and due to a downturn in demand caused by the economic crisis of 2008, GM drastically reduced prices and introduced more upmarket models, putting Chevrolet at odds with its parent company’s other European interests.
"We will phase out exports to Europe by the end of 2015," Park Hae-ho, a spokesman at GM Korea, said.
Currently it is not known how the company will look after current Chevrolet owners in terms of servicing, maintenance and warranty support, but talks are currently underway between the manufacturer and its dealer network.
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