“GM gets rid of a perennial loser.”[GM pulls back from European auto market]GM’s exit from Western Europe to concentrate elsewhere doesn’t come without risk, including giving up market share and expertise. GM sold 1.2 million cars in Europe last year. GM sells Chevrolet Corvette sports cars in Europe but has been unable to establish a beachhead with its Chevrolet brand. “Ford enjoys a huge and wildly profitable commercial-vehicle business in Europe,” said Lutz, onetime chief executive of Ford of Europe. Ammann echoed that Monday, saying the European auto market had changed so dramatically that only 1 in 5 Opels could be sold in other regions.

Source: Washington Post March 06, 2017 21:27 UTC