Reilly: Opel on or ahead of track, could profit next year

2012 Opel Astra GTC

It was reported earlier in June that General Motors’ CEO Dan Akerson┬áhas been in favor of selling Opel in the past and is currently fed up with the German brand. But things at Opel may not be as bad as the look. According to GM Europe’s President Nick Reilly, Opel/Vauxhall are on track or ahead for their second quarter earnings.

“We release our second-quarter earnings in July and we are on track, in fact we’re ahead of track,” Reilly said. “Things are going ok.”

Opel/Vauxhall lost $1.6 billion in 2010 and is GM’s only money-losing part. The brand is expected to return to profitability next year.

It was recently reported by German media the GM is considering selling Opel and that Volkswagen and China’s Beijing Automotive Industry Holding Co. could be potential buyers.

– By: Omar Rana

Source: Reuters