* Head of GM Europe says Opel on track, ahead for Q2
* German car maker doing "significantly better"
* Sees profit in 2012
(Adds further quotes, background)
By Alysha Love
BRUSSELS, June 23 (Reuters) - Car maker Opel is on track to meet or beat its second-quarter earnings target after making money in the first quarter, the head of European operations for U.S. car maker General Motor Co said on Thursday.
"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.
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.
GM dropped its plans to spin off Opel in 2009 after months of negotiations and began a drastic restructuring to get the unit back on track.
The leader of GM's struggling European unit appeared at a youth-centred event that brought together executives from carmakers such asand to discuss the future of the industry. (Editing by Helen Massy-Beresford and David Holmes)