Cadillac News, Concepts, Future Models, Rumors and more Discussion, Cadillac News: REPORT: Cadillac pulling out of half of Europe in Current Cadillac Vehicle Discussion; Filed under: Car Buying , Euro , Cadillac , Chevrolet , HUMMER It's going to be hard for Cadillac to ...
- 03-27-09 09:30 AM #1
Cadillac News: REPORT: Cadillac pulling out of half of Europe
Filed under: Car Buying, Euro, Cadillac, Chevrolet, HUMMER
It's going to be hard for Cadillac to live up to its longtime billing as "The Standard of the World" if the brand isn't available in much of it. Despite this, General Motors has decided to pull Cadillac from nearly half of the 25 European markets (not including the U.K. or Russia) in which it currently sells. Along with Cadillac, the HUMMER and Corvette brands will also be affected.
The problem isn't directly GM's fault, as the automaker relies on a Dutch-based third-party company called Kroymans Import Europe to distribute these brands across the Atlantic. Due to slow sales caused by the global economic downturn, Kroymans has found itself with an "acute liquidity shortage." In other words, it's out of money.
GM and Kroymans are currently working on a new distribution deal, but in the meantime, a court has appointed an independent administrator to take possession of the 3,500 unsold vehicles currently sitting on Kroyman's 165 European dealerships.
[Source: Automotive News - sub. req'd]REPORT: Cadillac pulling out of half of Europe originally appeared on Autoblog on Fri, 27 Mar 2009 09:28:00 EST. Please see our terms for use of feeds.
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