General Motors is to present a survival plan to the U.S. government today, showing officials how it plans to cut costs and pay back billions of dollars of bailout loans.
The U.S. carmaker’s plan may include wide-ranging changes in its European operations, which include the German Opel and British Vauxhall brands plus Sweden’s Saab.
There are bound to be some nerves after GM said yesterday that it could take “unconventional and aggressive steps” to cut costs in Europe.
“We are faced with unprecedented challenges as the European markets are becoming dramatically smaller,” GM Europe President Carl-Peter Forster said in a statement.
Forster did specify what steps GM will take to cut costs.
More to follow…