Opel commits to new investment

City A.M. Reporter
OPEL, the European arm of General Motors, will keep up its product investments and will return to its mass-market roots, its chief executive said yesterday, a week before he is scheduled to present a restructuring plan.

“We will make a significant investment in Opel’s product portfolio,” Karl-Friedrich Stracke said at an automotive industry event yesterday, contrasting this with cuts at some rivals.

Italian carmaker Fiat said last week it was cutting capital expenditure in Europe by €500m (£404.4m) this year.