A GM spokesman said no final decisions had been made.
The move would be a renewed push in the region after the company sold its mass-market Opel and Vauxhall brands in 2017 to what is now Stellantis, following two decades of losses.
GM has recently revived the dormant Hummer brand, starting production of the electric pickup in December.
The nameplate was controversial among environmentalists with the Hummer H2 model that used about one gallon (3.8 liters) of fuel to drive 10 miles (16 km).
The automaker acquired the Hummer brand from military contractor AM General in the late 1990s, at the height of the U.S. SUV boom.
High gasoline prices had reduced sales and GM's 2009 bankruptcy led the company to stop production of all Hummers in 2010.
While GM sold the bulk of its European operations, it continued to market a limited number of imported Cadillac models through a Swiss unit.
The company is also considering setting up a mobility startup in Europe along with the possibility of traditional sales.
Europe's new-vehicle sales slumped for an 11th consecutive month in May as record inflation and falling consumer confidence joined prolonged supply-chain disruptions.
A Bloomberg Intelligence report predicts shipments will pick up in the second half of this year.