DETROIT – While missing cost-reduction targets, General Motors Corp.’s Adam Opel AG and Vauxhall Ltd. still will slash expenses at record levels in 2003, a company executive says. GM Europe President Mike Burns says GM is reducing costs at record pace. GM Europe, which includes Opel, Vauxhall and Saab Automobile, aims to reduce material costs by 2.5%-3% this year. However, high “stretch” goals were set, Mike Burns, GM Europe-president, says during a media briefing here. ...
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