Already a hit in Europe, Asia and Australia, Chevrolet’s first global compact car will offer a turbocharged engine to combine enjoyable performance with up to 40 m.p.g. on the highway when it rolls out of GM’s assembly plant in Lordstown, Ohio, this year.

In addition to its 140-horsepower 1.4-liter engine, the Cruze will offer six-speed automatic and manual transmissions. Standard safety equipment includes electronic stability control and an exceptional 10 air bags — two knee bags for the front seat, side air bags for front and rear seats, and curtain air bags in addition to the mandatory front air bags. Options will include Bluetooth phone connectivity, a USB port for iPods and a navigation system.

The Cruze’s interior appears to offer nearly midsize-car passenger space. The 13.2-cubic-foot trunk provides more cargo capacity than a Honda Civic, Mazda 3 sedan or Toyota Corolla.

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Additionally, Basel told the Flint News GM was examining all options — including using existing buildings on site.

Our take is GM’s looking to cut every short-term cost possible as they try to buy time until a federal solution arises to the Carpocalypse. For the moment, the most pressing vehicle to bring to market is the Chevy Volt. Given the initial low volume, GM will import 1.4-liter engines…err..range extenders from their European plant. The Chevy Cruze has been pushed off a year, so the need for the Flint engine plant to be built right now doesn’t make a whole lot of sense. Thus the delay announced late last year.

However, Flint should expect without further federal funds — or a pre-packaged bankruptcy of some sort — they won’t be seeing that plant anytime soon.