Seeking Alpha

Opel Chief: GM unit should be able to avoid further costs cuts

  • General Motors' (GM) European unit Opel expects a difficult 2014 but believes it will be able to grow enough that it won't need to cut more costs, the head of the business, Thomas Neumann, has told newspaper Sueddeutsche Zeitung. Opel is on course to become profitable in 2016, Neumann also said.
  • Opel will continue to co-operate with Peugeot (PEUGF), he said, even though GM plans to sell its 7% stake in the troubled French carmaker.
  • Neumann believes that as a member of key GM committees in Detroit, he has enough influence to "stand for Opel" and "fight for the brand."
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)