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GM winding down Chevrolet brand in Europe

If you've taken even a cursory look at GM's European strategy and wondered how it can target the market there with both Chevrolet and Opel/Vauxhall, you're not alone. In fact General Motors itself has found it difficult to justify the two-pronged approach. That's why it's essentially pulling Chevy from the European marketplace.
Instead of trying to ply European buyers with what are mostly former Daewoo products rebadged as Chevys, GM will now let Opel (or Vauxhall in the UK) represent its mass-market aspirations. Chevrolet will keep its presence in Russia and other former Soviet markets, and will continue selling certain niche products in Eastern and Western Europe. The Corvette, for example, has long been sold in Europe through Cadillac dealerships, which for its part is currently "finalizing plans for expanding in the European market".
While the shift in strategy is expected to help GM get a stronger foothold in the European market in the long run, in the short term the restructuring will cost it dearly: between $700 million and $1 billion, according to its own estimates, split between the last quarter of this year and the first half of the next. Jump into the full press release below for more.

Cadillac calling in 4,900 CTS-V models for brake issue

General Motors is recalling just over 4,900 first-generation Cadillac CTS-V sedans built between September 6, 2003 and June 11, 2007. The affected vehicles are largely registered in cold weather states where rock salt is used on roads. The salt could corrode the front brake hose's fitting in the brake calipers, which could lead to a brake fluid leak, the National Highway Traffic Safety Administration's bulletin reads. Needless to say, that would make slowing down the Corvette-powered Caddy a challenge. The affected vehicles were registered and/or sold in the following states: Connecticut, Delaware, Illinois, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia, Wisconsin, and the District of Columbia. GM is set to begin notifying owners of the affected vehicles, who will need to report to dealers to have both front brake hose assemblies replaced. Repairs are, naturally, free of charge. Scroll down for the official NHTSA bulletin. Report Receipt Date: APR 15, 2015 NHTSA Campaign Number: 15V225000 Component(s): SERVICE BRAKES, HYDRAULIC Potential Number of Units Affected: 4,907 Manufacturer: General Motors LLC SUMMARY: General Motors LLC (GM) is recalling certain model year 2004-2007 Cadillac CTS-V vehicles manufactured between September 6, 2003, and June 11, 2007, currently registered, or originally sold, in Connecticut, Delaware, Illinois, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia, Wisconsin and the District of Columbia. In the affected vehicles, snow or water containing road salt or other contaminants may corrode the front brake hose fitting at the caliper. CONSEQUENCE: Corrosion may cause the brake system to leak which could lengthen the distance needed to stop the vehicle and increase the risk of a crash. REMEDY: GM will notify owners, and dealers will replace both front brake hose assemblies, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Cadillac customer service at 1-800-458-8006. GM's number for this recall is 15149. Note: This recall is an expansion of recall 10V-105. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.

First-edition Detroit muscle raises millions for charity at Barrett-Jackson

Amidst all the classic metal crossing the auction block each year in Scottsdale, AZ, Detroit automakers have a tradition of donating the first examples of their most enticing new muscle cars, with the proceeds of their sales going towards worthwhile charities. This year, Barrett-Jackson handled three noteworthy examples. The highest price among them was the first Ford Shelby GT350R Mustang with the VIN #001, which raised $1 million for the Juvenile Diabetes Research Foundation. General Motors donated the first new Chevy Corvette Z06 Convertible, the first retail example of the droptop supercar garnering $800,000 for the United Way. Along with the Z06, GM also donated the first new 2016 Cadillac CTS-V sedan, which brought in $170,000 for Detroit's College for Creative Studies. Although these were the headline Motown muscle machines furnished by the automakers themselves, they weren't the only vehicles auctioned off for worthy causes. A 1950 GM Futurliner bus donated by collector Ron Pratte led the charge when it brought in $4.65 million for the Armed Forces Foundation. Other lots included a custom Jeep Wrangler donated by SEMA ($85k), a new M5 donated by BMW ($800k), a '79 Oldsmobile Cutlass Hurst ($140k), '39 Cadillac LaSalle C-Hawk ($410k), Jeff Gordon's 1999 NASCAR-spec Chevy Monte Carlo ($500k) and a Victory Cross Country 8-Ball motorcycle ($180k). All told, the charity lots raised over $8.7 million for local and national charities. BARRETT-JACKSON REACHES HISTORIC HIGHS FOR SALES, CROWDS AND CELEBRITY APPEARANCES IN SCOTTSDALE • Barrett-Jackson sold 1,611 vehicles, which went for more than $130 million (unaudited), smashing records in the company's 44-year history during the 10-day auction at WestWorld of Scottsdale • Automobilia sales nearly tripled world records, with 2,000 pieces selling for more than $6.55 million • Celebrity attendance and crowds, along with ratings on Discovery and Velocity, spike SCOTTSDALE, Ariz. – Jan. 18, 2015 – Barrett-Jackson, The World's Greatest Collector Car AuctionsTM, reached historic highs during the Scottsdale auction at WestWorld from Jan. 10-18, 2015. During the 10-day auction, Barrett-Jackson recorded more than $130 million in vehicle sales (unaudited) and a world record $6.55 million in automobilia sales (unaudited), making it the highest auction in sales to date. The Ron Pratte Collection alone brought in over $40.44 million in vehicle and automobilia sales.