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Weekly Recap: GM scales back as Russian auto market teeters

General Motors' extensive plans to scale back its Russian operations are the latest sign the automotive market in the former superpower is collapsing – and there are few signs of recovery. GM said Wednesday it will stop selling mainstream Chevrolets and shutter the entire Opel brand in Russia. The moves leave GM with a luxury-focused presence consisting of Cadillac and Chevrolet's Corvette, Camaro and Tahoe. The cutbacks will be completed by the end of the year. The automaker will also idle its factory in St. Petersburg and end a contract-assembly agreement with Russian manufacturer GAZ. "We had to take decisive action in Russia to protect our business," Opel Group CEO Karl-Thomas Neumann said in a statement. "We confirm our outlook to return the European business to profitability in 2016 and stick to our long-term goals." GM is the latest automaker to scale back in Russia as the economic conditions, volatile currency and uncertainty over the conflict in the Ukraine all have sandbagged new car sales. Last month, vehicle sales collapsed 38 percent in Russia to 128,298 units, according to the Association of European Business, which records sales. Joerg Schreiber, chairman of the AEB automobile manufacturers committee, didn't even feign optimism in a statement announcing the figures. "The market is entering a very difficult phase now, and February is only the beginning," he said. "Industry sentiment is the next few months will be extremely difficult and the market bottom has yet to be found." The dovetails with industry experts, who predict the Russian auto sector will remain in the doldrums. IHS said earlier this year it expects Russia's sales to slip to just 1.8 million units in 2015, which is a 40-percent drop from 2012. Other News & Notes Chief leads Jeep's Easter Safari stable Jeep is bringing seven attention-getting concepts to Moab for its annual Easter Safari off-roading celebration in Utah, but the Chief is perhaps the standout of the group. It salutes the 1970s Cherokee with a throwback appearance and surfer styling cues. The Chief has a custom modified razor grille made famous by the Wagoneer, and it rolls on 17-inch slotted mag wheels. The surf theme comes in with ocean blue paint, floral cloth and leather seats and a tiki-style shifter handle. Based on the Jeep Wrangler, the Chief has removable sides, a 3.6-liter V6 engine and a six-speed manual gearbox.

Cadillac to Corvette: You’re not getting our twin-turbo V8 engine

NEW YORK — Cadillac president Johan de Nysschen bluntly shot down rumors his brand's powerful twin-turbo V8 is also headed for the Chevy Corvette. Speaking Wednesday at the New York Auto Show, he said: "Just quit the speculation it's headed for Corvette. It's not." The 4.2-liter V8 cranks out 550 horsepower and 627 pound-feet of torque in the Cadillac CT6 V-Sport, which debuted at the show. With that kind of performance and the fact the engine will be hand-built at the General Motors Performance Build Center in Bowling Green, Ky. — at the Corvette factory — led enthusiasts to presume the engine would eventually be under the Vette's hood. De Nysschen, however, argued the engine will also focus on levels of refinement, rather than the Corvette's raw, visceral dynamic. "I think Corvette wants a different kind of character," he said. In fact, the V8 is set to be only for Cadillacs, de Nysschen said, giving the luxury brand its first exclusive engine in years. "It's a matter of being a thoroughbred luxury car," he said. "It's really only a luxury brand that could recoup this [development] cost." A version of the engine making 500 hp and 553 lb-ft will also be used in other Cadillac models. De Nysschen declined say which vehicle will get the engine next. The new V8 uses a "Hot V" configuration more common to German performance cars, and has direct injection, electronic wastegate control, active-fuel management and stop-start technology. It teams with a 10-speed automatic transmission and fits either rear- or all-wheel drive systems. With a new mid-engine Corvette — and potentially more versions of the existing generation Vette — on the horizon, speculation pointed to the sports car getting a twin-turbo powerplant of some sort (V6 rumors also have floated), and the Cadillac 4.2-liter seemed to fit on paper. According to de Nysschen, that won't be the case. Still, even though the Cadillac boss says this specific engine won't go to Corvette, it's hard to not think some version of this engine, perhaps in a different displacement, could find its way under the hood of the Vette at some point in the future. Related Video:

Cadillac's de Nysschen won't budge on raised pricing

According to new Cadillac boss Johan de Nysschen, it will take between 10 and 15 years to elevate GM's top brand, which was once hailed as "The Standard Of The World," back to prominence in the minds of American customers. And to hear the executive talk of it, the brand is going to have to be willing to see sales falter in the near-term before they recover:
"Either you have to bring your volume aspirations into alignment with reality and accept that you will sell fewer cars... Or you have to drop the price and continue to transact at the prices where you were historically... I think the logical conclusion is that it's better to build off a very solid base in terms of [product] credibility, charge a fair price for the car and realize you have to wait until the volume comes."
In other words, sales will fall before they rise, and the brand has to be okay with that. Notice, too, that de Nysschen speaks of "a fair price" for Cadillac cars and utility vehicles. In this case, "fair" means more than many of the brand's traditional buyers are accustomed to, and roughly in line with the brands and machines Cadillac believes it is competing against. For instance, the newly enlarged 2014 CTS carries a suggested retail price that is over $6,000 higher than it was in 2013, and some trim levels boast an even higher price premium over the models they replace.