Opel cost-cutting pays off in savings

GENERAL MOTORS’ German unit Opel will make an operating loss of about €300 million in 2005, less than earlier expected, a German news magazine reported yesterday.

Citing company sources, the report said management had in August expected Opel to be about €340 million in the red at the end of the year.

Opel sales director Jean-Marc Gales said profit margins had risen, following cost-cutting in production, marketing and administration, and better sales figures.