Isdell's interview with CNBC was part of a guest appearance on "Squawk Box" Tuesday. In a wide-ranging discussion, he touched on a number of different topics, including the outlook for General Motors and the economy.

Isdell, who is a member of GM's

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[GM  Loading...      ()   ] board, said the board is unified in its approach and ready to go into bankruptcy if that is necessary.

"We, by the time we get into June, are going to see a new General Motors. We're going to see a new American auto industry, and how that unfolds is to do with all of these deadlines and what happens along the way, and of course, like all of these things, you won't know until just before midnight," he says.

The troubled automaker is working to reorganize before a June 1 deadline. GM CEO Fritz Henderson told CNBC Tuesday that he would prefer to avoid a bankruptcy filing.

Henderson's discussion also touched on GM's ability to meet fuel efficiency and emission standards being proposed by the Obama administration.

Isdell says his opinion is that the new standards are tough and will cost more, but it is the right thing to do.

"Directionally, is it the right way to go?" he says. "Do we need to have better-performing vehicles in terms of fuel consumption to cut the energy bills? Absolutely. So in the broader context, it is absolutely right. Is it being forced on the industry? Of course, it's a government mandate. But it is the right direction? Absolutely."

Recovery in 2010

"I think it is still a difficult time ahead, I really do," he says. "The whole financial architecture is still stressed very, very badly, and I think we're still going see a difficult ride through all of this year. We're going to see some good periods, some bad periods. "

However, he is hopeful when he looks at the global economy. (For more on where he sees growth, watch this video.)

"There are other engines out there that can click in to help bring us out of it, and I think that's 2010," he says.

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