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    GM Opel Outlines A Turnaround Plan

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    Wochit Headline News

    by Wochit Headline News

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    GM’s troubled European unit Adam Opel aims to return to profit and deliver earnings before interest and taxes amounting to 5% of sales by 2018, after years and billions of dollars of losses. The profit target was moved forward by four years, from 2022 to 2018, but the margin level takes into account the realities of Europe’s crowded and cutthroat market. Opel CEO Karl-Thomas Neumann and his team drafted the plan, which takes a longer view than prior Opel turnaround plans.