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Opel eyes substantial profit in 2012

FRANKFURT : General Motors' European unit Opel will make a substantial three-digit million euro profit in 2012, Automoti
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By Muhammad Iqbal
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opFRANKFURT: General Motors' European unit Opel will make a substantial three-digit million euro profit in 2012, Automotive News Europe said, citing company sources.

Opel lost $1.6 billion last year and is undergoing a drastic restructuring, but is expected to break-even this year and show profit in 2012.

In an interview with Automotive News Europe, new Opel CEO Karl-Friedrich Stracke confirmed the company's aim for 2011.

"Our goal is to be substantial profitable beginning next year," he told the magazine, but declined to give precise details.

GM Europe President Nick Reilly told Reuters last month the restructuring was ahead of plan.

Copyright Reuters, 2010

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