GM unit Opel sees enough sales growth to avoid cost cuts: paper

General Motors’ (GM) European unit Opel is cautiously optimistic that sales will grow enough in 2014 to avoid a further round of cost cutting, Chief Executive Karl-Thomas Neumann told newspaper Sueddeutsche Zeitung. Opel is on track to reach profitability by 2016, Neumann said, but the company expects a difficult year ahead, weighed down by restructuring costs for ending vehicle production at its factory in Bochum in Germany. GM is sticking with a 4 billion euro ($5.5 billion) investment plan for Opel and the strategy for the loss-making European subsidiary will remain in place even after a change of leadership at GM headquarters in Detroit, Neumann said. “I will stay with Opel a long time.


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