GM Europe abandons 2004 profit plan-Automobilwoche

Newswire

FRANKFURT, Sept 25 (Reuters) - General Motors Corp's struggling European division has abandoned a target to break even for 2004 following a bad third quarter, Automobilwoche magazine said in a preview of its Monday publication. "The third quarter went badly," Automobilwoche cited GM Europe chief Fritz Henderson as saying. The company will publish detailed figures on October 14. The biggest problem is "high" overcapacity and low productivity in some factories, Henderson told the magazine. ...

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