General Motors Co. says it plans to largely withdraw its Chevrolet brand from Europe from the beginning of 2016, focusing more sharply on its main Opel and Vauxhall brands.
GM said Thursday that Chevrolet will no longer have a "mainstream presence" in Europe and said the decision was "largely due to a challenging business model and the difficult economic situation" on the continent.
GM has continued to lose money in Europe even as its performance elsewhere improves.
The company says Chevrolet will still offer "select iconic vehicles" such as the Corvette in Europe and will retain a broad presence in Russia.
CEO Dan Akerson says GM's European operation will benefit from a stronger Opel and Vauxhall and from plans to expand the Cadillac brand's presence.