Fox Business - The Power to Prosper
Search Site

Vauxhall

GM to Focus on Opel, Drop Chevy Brand in Europe

General Motors (NYSE:GM) will drop the Chevrolet brand in Europe by the end of 2015 after it failed to build a significant market share, and focus instead on its Opel and Vauxhall marques in a drive to return to profit on the continent.The world's second-biggest carmaker behind Japan's Toyota <7203.T> said on Thursday the decision would result in one-off charges of up to $1 billion, but it should lead to production, marketing and distribution savings.Relaunched in Europe in 2005, Chevrolets were supposed to compete at the budget end of the market with the likes of South Korea's Hyundai <005380.KS>, Volkswagen's <VOWG_p.DE> Skoda and Renault's <RENA.PA> Dacia.But the brand, by far General Motors' (GM) biggest in its home U.S. market, failed to make much headway as its largely rebadged South Korean-made Daewoo cars struggled against rivals, some of which are customized for European markets.Hurt also by a brutal downturn in European demand, Chevrolet responded by slashing prices and intro...

Read More

  1. GM Cars Going Wireless With 4G Internet

    General Motors (NYSE:GM) will begin to include 4G wireless broadband connectivity, the same used for smartphone devices, in its 2015 models sold in the U.S. and Cana...

  2. Carmakers pin hopes on Europe's British bright spot

    Britain was the only bright spot in European car sales last year but to maintain the growth, carmakers will have to keep offering such hefty incentives that they may...

  3. Peugeot to Take $5.53 Billion Asset Write-Down

    Ailing French car maker PSA Peugeot-Citroen (UG.FR) said Thursday it will write down the value of its automotive and financial assets in Europe by 4.13 billion euros...

  4. Volkswagen and U.S. automakers lead French sales decline

    French car sales fell 15 percent to their lowest January level in 16 years, as Volkswagen and U.S. carmakers led declines, leaving no end in sight to Europe's autos ...

  5. GM's Opel sales chief goes after seven months

    General Motors subsidiary Opel lost sales chief Alfred Rieck on Friday, marking another high profile departure for its ailing German business."We respect Alfred Riec...

  6. GM's Opel sales chief quits after half year in job

    General Motors ailing Opel brand is replacing sales chief Alfred Rieck, who is leaving the company after nearly seven months in office.Opel named its head of Opel's ...

  7. GM ups the ante in talks over Opel factory closure

    General Motors said on Tuesday it may close a German factory at its Opel subsidiary earlier than proposed adding restructuring talks with unions must be wrapped up b...

  8. Renault's Global Vehicle Sales Fall 6.3% in 2012

    Renault SA (RNO.FR) said Friday that its vehicle sales fell 6.3% in 2012 as its sales plummeted in Europe, but the French auto maker sold more cars outside Europe la...

  9. Helicopter Hits Crane and Crashes in Central London

    A helicopter crashed in central London and plunged to the ground in a ball of flames Wednesday, with police saying it had hit a crane on top of a building.Fire engin...

  10. U.S. stake sale of GM to revive image

    The sale of the U.S. Treasury's stake in General Motors and a possible credit rating upgrade of the U.S. automaker in 2013 will help distance the company from the st...

  11. Honda to cut 800 UK jobs on falling European demand

    Japanese carmaker Honda <7267.T> plans to cut around 800 jobs at its plant near Swindon in southwest England due to falling demand for its vehicles across mainland E...

  12. GM's Opel Unit Aims to Stabilize Market Share in 2013

    General Motors Co.'s (GM) German unit Opel AG is aiming to stabilize its market share in 2013, Opel's interim Chief Executive Thomas Sedran said Thursday at an event...

  1. Four European Car Makers To Lose $6.6 Bln: Moody's

    Four of Europe's mass-market car makers are poised to make combined losses of 5 billion euros ($6.6 billion) this year as European demand sinks to its lowest level i...

  2. Opel Expects Financing Unit to Support Sales Growth

    General Motors Co.'s (GM) German unit Adam Opel AG expects its new financing unit to contribute to the Opel's goal of increasing sales and market share, Opel Chief F...

  3. GM Profits Sinks 11% as North America Weakens

    General Motors Co. (GM) reported an 11% drop in its first-quarter profit as weakness throughout the company's operations, such as a weaker quarter in North America a...

  4. Opel: Supervisory Board Approves Plan to Halt Bochum Vehicle Output

    Adam Opel AG, a unit of General Motors Co. (GM), confirmed Wednesday that its supervisory board has approved a plan to wind down a vehicle production line in Bochum ...

  5. Peugeot Has No US Expansion Plans, Restructuring on Track - Report

    PSA Peugeot Citroen (UG.FR) has no plans to expand in the U.S., Chief Executive Philippe Varin said in an interview with the Frankfurter Allgemeine Zeitung published...

  6. GM Pledges $5.23 Billion Investment In Opel Unit

    General Motors Co. (GM) Chief Executive Dan Akerson, seeking to quell concerns over the auto maker's future role in Germany, disclosed plans Wednesday to invest $5.2...

  7. Opel aims for flat car sales in softer 2013 market

    General Motors brand Opel aims to match last year's sales level of more than 1 million vehicles in Europe in 2013 thanks to the launch of the new Adam subcompact and...

‹ Prev12345Next ›
Freebase CC-BY
Source: Vauxhall on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL