General Motors German unit Opel has cut its 2002 operating loss to below 400 million euros ($US421.5 million), less than a previously expected loss of 400-450 million, Reuters reported on Monday, citing the Handelsblatt newspaper.

According to Reuters, chief executive Carl-Peter Forster said last week Opel had cut its 2002 loss “significantly” from the 674 million euro loss a year earlier and said he expected the group to break even by the end of 2003 but gave no details.

Opel is due to report 2002 results on Thursday, Reuters noted.