GO
Loading...

GM Chief Executive Sees Turnaround Faster Than Expected

General Motors Chairman and Chief Executive Rick Wagoner.
Paul Sancya
General Motors Chairman and Chief Executive Rick Wagoner.

General Motors expects labor talks with unions to bear fruit and help the company turn around its struggling business in the United States faster than expected, Chief Executive Rick Wagoner said on Wednesday.

"We will improve results in the United States faster than people think," Wagoner said after announcing investment plans in Brazil and Argentina.

Wagoner, a former head of GM's operations in Brazil who spoke in Portuguese in Sao Paulo, said the company is working closely with unions on cost savings, though more needs to be done.

Shares of General Motors traded lower Wednesday by about 0.7%.

Symbol
Price
 
Change
%Change
GM
---

Featured

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video