- NYT’s David Brooks: Obama has ‘manhood problem’ in Middle East
- Ted Cruz thanks Obama for denying visas to terrorists
- Survivors recall chaos, fear in Everest avalanche
- General Mills apologizes for ‘right to sue’ confusion, reverses policy
- Dealer wanted in U.S. for art fraud nabbed in Spain
- Easter morning delivery for space station
- Boxer Rubin ‘Hurricane’ Carter dies at 76
- Probe could complicate Rick Perry’s prospects
- Ukraine, Russia trade blame for eastern shootout
- Obamas head to church on Easter morning
GM ending Chevy sales in Europe to focus on Opel and Vauxhall
Chevy is as iconic as an American car brand comes, but that hasn't helped sell cars in Europe.
General Motors announced Thursday it will end deliveries of Chevrolet vehicles to Europe by the end of 2015 to focus on its core European brands, the German-based Opel and U.K.-based Vauxhall. The move to shift production from Chevy to Opel and Vauxhall is expected to cost GM a one-time fee of between $700 million and $1 billion.
Chevy long has been one of the best-selling car brands in the U.S., but it didn't do as well as expected in Europe. Three popular cars that Chevy builds in Europe include the Camaro, Corvette and the new hybrid electric Volt.
But Chevy sales suffered from a downturn in European demand over the past several years because of the financial crisis.
The division's European headquarters, which was relaunched in 2005, is based in Zurich, where it employees about 800 people.
GM's stock showed little reaction to the move, inching up about 40 cents, or 1 percent, to $39 in afternoon trading on the New York Stock Exchange.
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
Tim Devaney is a national reporter who covers business and international trade for The Washington Times. Previously, he worked for the Detroit News, Grand Rapids Press, Portland Press Herald and Bangor Daily News. Tim can be reached at email@example.com.
- Dysfunction, disarray at Homeland Security management cited in IG's report
- GM's Barra to be first woman to run top American carmaker
- Treasury sells last shares in 'Government Motors'
- U.S. businesses reach out quickly to partners in Iran
- General Motors ending Chevrolet sales in Europe to focus on Opel and Vauxhall
Latest Blog Entries
TWT Video Picks
Women losing coverage under Obamacare, too
- Scalia to students on high taxes: At a certain point, 'perhaps you should revolt'
- Former Ranger breaks silence on Pat Tillman death: I may have killed him
- Special Forces' suicide rates hit record levels casualties of 'hard combat'
- Army goes to war with National Guard, seizes Apache attack helicopters
- Feds approve powdered alcohol; 'Palcohol' available later this year
- NYT's David Brooks: Obama has 'manhood problem' in Middle East
- Rep. Debbie Wasserman Schultz: Vulnerable Democrats must 'run their own race'
- WILLIAMS: Bill Maher, comedian or bigot?
- U.S. Navy to turn seawater into jet fuel
- Supreme Court weighs appeal to concealed-carry gun laws
Top 10 handguns in the U.S.