GM will reportedly stick to a plan to cut costs at Opel by 30%, according to remarks made by Bob Lutz reported in a Swiss newspaper.

"The restructuring plan developed at the end of last year is still the basis for a profitable business model. The plan foresees a 30% cut in structural costs," Lutz told the Swiss Sonntag newspaper.

"We will now analyse the current situation carefully and propose relevant measures," he said.

Lutz also said the main reason GM had decided not to sell a stake in Opel was because GM's business position had improved and there were also brighter signs in the European economic climate.

"We are all rather optimistic at the moment and see small signs of a mild recovery. There could be a slight recovery towards the end of the year, which would hopefully continue in 2010 and 2011," he told the newspaper. 

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