DETROIT (AP) — General Motors' CEO says the company's European car business is not for sale.
There have been numerous media reports that GM wanted to shed Opel. The struggling brand employs 18,500 workers and has manufacturing plants throughout Europe.
High labor costs and sagging European sales caused a $1.8 billion loss at Opel last year despite efforts to restructure its operations. GM has made progress lowering costs lately.
"Opel is not for sale," CEO Daniel Akerson told reporters Wednesday after a ceremony in Detroit marking the formal start of contract talks with the United Auto Workers union.