The move is seen as a success for strong lobbying from the German Opel brand, which has been a struggling loss-maker for GM for years.
The Chevrolet business will be wound down by the end of 2015, according to GM. The Corvette will remain on sale in limited outlets, and a push to grow Cadillac in some markets will be continued.
Most Chevrolets sold in Europe have been sourced in Korea, in the GM operation formerly Daewoo.
It has been difficult to differentiate similar models from the two brands, especially Opel's bread and butter Astra, as premium and budget offerings.
