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Sterling Heights, Michigan, Dec. 16 (Reuters): General Motors Corp should see improved revenue in 2006, driven by its new line of full-sized sports utility vehicles and trucks, chief executive Rick Wagoner said on Thursday.
We are going to have a nice start to the year as we build and ship the new Chevy Tahoe, and that should help on the revenue side, Wagoner said, speaking on the sidelines of GMs holiday party in Sterling Heights, Michigan.
Wagoner declined to say when the automaker might return to profitability, but said he was optimistic about the soon to be launched GMT-900 series ? a line of redesigned SUVs with better fuel-efficiency.
The GMT-900 series, hailed by analysts as critical to the future of GM, includes Chevy Suburbans, Tahoes and GMC Yukons. Some analysts have called the line the make-or-break series for the automaker.
The worlds largest automaker has lost nearly $4 billion this year as it struggles with high labour and commodities costs, loss of US market share to foreign rivals and slumping sales of its SUVs ? longtime cash generators for the auto giant.
A recent easing of gasoline prices has done little to reverse a shift in US consumer sentiment away from fuel-thirsty SUVs and pickups.
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