GM May Not Unveil Opel Plan Until Summer

CEO Dan Akerson says General Motors Co. still needs more time to hammer out the details of a plan to restructure its Adam Opel unit. He predicts the company will ready to begin disclosing details of the plan "within the next couple of months."

The unveiling of the turnaround plan was originally expected in March. Akerson says GM and Opel remain enmeshed in complex negotiations with governments and labor unions across Europe.

Opel lost $747 million last year. Akerson declines to forecast when the unit might break even an event originally expected in 2011. He notes that Europe's auto market outlook is uncertain because of the region's continuing debt crisis.

In November 2009, GM's board called off a deal to sell Opel to a consortium led by Canada's Magna International Inc. Akerson acknowledges that directors have "different points of view" now on whether that was a good idea.