Wally Edgar CHEVROLET Dealer - Opel Survives 2010

Sept. 30, 2010 - PRLog -- FRANKFURT (Reuters) -- GENERAL MOTORS Co.'s European arm, OPEL, sees a chance it may return to profitability next year -- excluding restructuring charges -- and now expects a smaller 2010 loss, the unit's CEO said.

"We will be ahead of budget in 2010 since some costs will be shifted to 2011," Nick Reilly said at the Paris auto show on Thursday.

Reilly also said he hopes the carmaker's net profit will reach 4 percent to 5 percent of sales in 2012, but said Opel was more likely to achieve that target in 2013.

GM last year dropped plans to sell Opel, backtracking on months of negotiations, and is now embarking on a drastic restructuring plan to get the unit back on track.

OPEL exports the Buick Regal to the U.S. as well as China and is currently involved heavily in future GM products.


SOURCE: Auto News Europe
Photo credit: Greg Robinson



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