GM Europe is on track to post a loss of $1.5-1.8 (€1.2-1.4) billion for 2012, so it comes as little surprise that major changes are in store for Opel and Vauxhall.

GM Europe is on track to post a loss of $1.5-1.8 (€1.2-1.4) billion for 2012, so it comes as little surprise that major changes are in store for Opel and Vauxhall.

Under the Drive Opel 2022 turnaround plan, GM Europe will attempt to break even by mid-decade by increasing sales, improving cost efficiencies and earning higher revenue from their models.

In order to achieve this, the company will deliver 23 new models and 13 new engines by the end of 2016. They will also enter a variety of new markets and segments.

GM's partnership with PSA Peugeot Citroen should start paying dividends soon as the company expects to see "measurable savings" in 2013. GM will also reduce costs by cutting company and dealer-owned inventory and eliminating approximately 2,600 employees this year.

The company will also align production to demand, but hinted this could prove difficult because the European debt crisis is expected to impact sales for several years.

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GM Europe to lose nearly $2 billion, wants to break even by mid-decade