News Summary: GM reaffirms commitment to Opel

News Summary: GM CEO Akerson says company committed to turning Opel around

Associated Press

GASSING UP: General Motors executives reaffirmed their commitment to Opel, its lossmaking European subsidiary, promising to invest another 4 billion euros ($5.2 billion) in the company.

SHIFTING GEARS: CEO Dan Akerson and the GM board travelled to Germany to discuss plans to reverse years of losses. GM tried to sell Opel in 2009 as the car giant headed into bankruptcy protection but then decided to keep it.

ROUGH ROAD: Opel faces fierce competition and weak pricing in a crowded market for less expensive cars. European auto sales have dropped because of the debt crisis in countries that use the euro.

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