 GM is trying to turnaround its fortunes |
Car giant General Motors (GM) has admitted that its US sales outlook for 2006 is "challenging". In a trading update, the Detroit-based US "Big Three" carmaker said its first quarter American market share would dip one percent from a year earlier to 24%.
Yet GM added that its continuing efforts to turn around the business were now having a positive effect.
The firm is cutting 30,000 jobs and closing 12 plants by 2008. Press reports say more cuts may follow.
According to the speculation, GM is now turning its attention to reductions to its US white collar workforce.
'Fixing things'
Mark LaNeve, GM vice president of North American vehicle sales, admitted the company had "a very strong sense of urgency to show improved results now".
"We have fixed many things and we've got to fix the rest of them on the run while we improve the business," he added.
Mr LaNeve said the company was now enjoying better revenues since it had ended its large car discount schemes in the US and instead brought in a clearer new pricing strategy.
GM posted a loss of $10.6bn in 2005 as it struggled with falling sales and high labour costs.
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