Opel CEO says will keep up spending on products

MONTE CARLO, June 21 Thu Jun 21, 2012 5:04am EDT

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MONTE CARLO, June 21 (Reuters) - General Motors unit Opel will keep up investments in products, the European car makers' chief executive said on Thursday.

"We will make a significant investment in Opel's product portfolio," Karl-Friedrich Stracke said at an automotive industry event.

"I noticed with interest that some of our key competitors have announced plans to cut product investment spending," he said.

Italy's Fiat SpA said last week it is cutting its capital expenditure in Europe by half a billion euros this year because of a protracted market slump.