The manufacturer said it will focus efforts on its "respected" Opel and Vauxhall brands, to reduce "market complexity" in the light of a "difficult economic situation" in
GM has been selling re-badged Daewoo models under the Chevrolet brand in Europe since 2005, positioning it as an entry-level, discount marque competing with the likes of Kia and Renault-owned
It has also signed lengthy sponsorship deals with Premier League football clubs Liverpool and Manchester United, including a deal to become the latter’s shirt sponsor from the 2014/15 season – with both sponsorships understood to be unaffected by the announcement.
Sales have stalled, even in the buoyant
As a result, the decision has been taken to focus efforts elsewhere, including on the reintroduction of its premium Cadillac marque.
Dan Akerson, GM’s chairman and chief executive, said: "
"This is a win for all four brands. It’s especially positive for car buyers throughout
GM confirmed it would continue to support Chevrolet with after-sales services for existing customers.