General Motors (NYSE:GM) has made big changes to its money-losing European operation over the past couple of years, and more changes are still to come. But things are looking up, at least a little: After losing $1.8 billion in 2012, GM's first-quarter loss in Europe narrowed to $175 billion.

GM said the improvement was due to cost controls. But it's also moving to increase profits. In this video, Fool contributor John Rosevear looks at GM's latest move in Europe -- a new factory financing unit -- and at its prospects for helping GM's Euro turnaround gain steam.