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This is actually replacing the Lacetti, the Chevy compact that you see in newwer Top Gear "Stars driving average cars" segment.
The Cruze will replace the Cobalt here in America on Delta 2 FWD platform. It will be the more conventional version to the Volt.
It will go on sale in March in Europe, and it will be in America a year after.
Powertrain in Europe is 1.6 or 1.8 liter 4cyl, but in America it will get the new "Family Zero" 1.4Turbo engine making 145hp and get a rumored 45mpg highway. The 1.4T motor will be seen in more and more vehicles and will star as the "range extender" in the Volt.
2.0T LNF will be sure to follow. Delta 2 also has AWD ability. The cruze and the new Opel Astra will be the first 2 cars on this platform. Delta will also spawn a whole bunch more vehicles in the future.
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2/20/2013: They Day the ****s Stopped
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