GM Offers Subdued Outlook for 2014

General Motors Co. says it expects only "modestly improved" earnings before interest and taxes this year as restructuring costs in Europe double to about $1.1 billion, according to media reports.

The company says its operating margin will remain unchanged from 2013. It also anticipates little or no gain in its share of the global vehicle market, which it expects to expand 2% to about 85 million units.

Dan Ammann, who became GM's president today, tells an analysts meeting in Detroit the jump in restructuring costs will be due to the planned closing of the company's Opel assembly plant in Bochum, Germany, and the exit of Chevrolet from Europe.

GM forecasts the U.S. light-vehicle market will grow to 16 million-16.5 million. The company, which captured 17.9% of the market last year, according to Autodata Corp., foresees a "modest" gain in its share in 2014.

GM predicts sales by it operations in Asia, Africa and the Middle East will climb 3%, mainly because of gains in China. The company cautions that its adjusted operating profit margin in the country will be flat because of competitive pressures and new-vehicle launch costs.