General MotorsGMUnited States of America, 1998 > present8 models
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has decided to cut back the ChevroletChevroletUnited States of America, 1911 > present82 models
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7 videos
brand in Europe significantly, and it will no longer offer mainstream cars. Instead, it will become a niche brand in Europe that sells cars like the CorvetteChevrolet Chevrolet Corvette Gen.7 [C7]United States of America, 2013 > present13 versions
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.

It is also making a major investment in OpelOpelGermany, 1863 > present85 models
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and VauxhallVauxhallUnited Kingdom, 1857 > present31 models
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6 videos
l to improve its cars in the mainstream and premium segments in Europe, and it is also expanding CadillacCadillacUnited States of America, 1902 > present79 models
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2 videos
in Europe.

“Europe is a key region for GM that will benefit from a stronger Opel and Vauxhall and further emphasis on Cadillac “For Chevrolet, it will allow us to focus our investments where the opportunity for growth is greatest,” said GM Chairman and CEO Dan Akerson.

The first fruits of the new plan will come in 2016, as the Chevrolet brand in Europe leaves the mainstream vehicle market to focus on niche cars like the Corvette. Chevrolet will remain as it is today in the Russian market.

The money saved on creating cars for Chevrolet in Europe and marketing them will be transitioned to Opel and Vauxhall. GM feels as though it has been competing with itself in Europe with the three brands.

GM says that it will work with current Chevrolet dealers to transition to its new brand, and it will continue to provide warranties, service and parts for current cars.

GM predicts that transitioning the Chevrolet brand will cost the company $700 million to $1 billion through the first half of 2014 due to sales incentives on current Chevrolets, severance packages for workers and dealer restructuring.

The other part of the restructuring plan is that over the next three years, Cadillac will expand its presence in Europe as a luxury automaker and introduce new products.