General Motors’ European unit Opel is cautiously optimistic that sales will grow enough in 2014 to avoid a further round of cost cutting, Chief Executive Karl-Thomas Neumann told newspaper Sueddeutsche Zeitung.

Opel is on track to reach profitability by 2016, Neumann said, but the company expects a difficult year ahead, weighed down by restructuring costs for ending vehicle production at its factory in Bochum in Germany.