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Chevrolet cannibalised Opel-Vauxhall sales and had to go - General Motors’ decision to close down Chevrolet in Europe shows it is really serious about turning around financially troubled Opel-Vauxhall, according to investors It has been a big week for GM after appointing Mary Barra CEO, announcing it will stop production in Australia, deciding to sell its seven per cent stake in Peugeot-Citroën and slimming down its alliance, while the US government sold its last shares in the company, ending four years of state control after the recovery from bankruptcy. When GM bought South Korean Daewoo, it changed its car’s names to Chevrolet and charged it with pursuing budget sales in Europe. But Chevrolet’s range of mainly Korean-made cars never caught on, and often undermined Opel-Vauxhall sales by offering similar cars with different names and much lower prices...more MORE LIKE THIS: STOCK MARKET VIEW | Tesla - Distant dream or reality? 19 Oct 2013 Car market teeters between recovery and relapse 17 Sep 2013 STOCK MARKET VIEW | US car sales forecasts revised upwards 19 Sep 2013 |
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