General Motors European unit Opel is on track to meet or beat its second-quarter earnings target after making money in the first quarter, a top executive said recently.

"We will release our second-quarter earnings in July, and we are on track - in fact, we're ahead of track. Things are going OK," GM Europe president Nick Reilly told Reuters. "I can tell you things are getting significantly better."

Reilly added that he expected Opel to turn a profit in 2012. "Our targets will be on the plus side," Reilly said. "How big, we're not going to give you - at least not now, it's too early in the year."

For 2011 the company's target is to break even, the news agency noted.

Rumours GM was in talks to sell European car maker Opel surfaced earlier this month, but a German newspaper reported that GM chief executive Daniel Akerson has reassured Opel that it was not in talks to sell it.