General Motors plans to cut more jobs in 2007 as it closes plants, and says it will not easily give up its title as the world's biggest carmaker without a fight.
GM, which lost $10.6 billion in 2005, cut more than 34,000 jobs last year and unveiled plans to close 12 plants and reduce recurring costs by $9 billion.
Wagoner said today he would not rule out more job cuts in 2007, though he added there would be a lot more employees leaving through attrition.
Chief executive Rick Wagoner said GM would not concede its ranking as the world's number one carmaker to Toyota Motor this year without a "fight for every sale."
The company will be looking at its huge health care burden, and it will be looking for more concessions as it begins talks with the United Auto Workers (UAW) Union over a new four-year contract.
At the moment, health care costs account for $1,500 of each new car - compared to about $200 for Asian rival Toyota.
Although GM still sells twice as many cars in the US market as Toyota, it will likely be overtaken by the Japanese automaker for the global top spot in terms of production in 2007, according to analysts.
Toyota has said it will produce 9.42 million vehicles this year; GM has not provided a forecast.
Wagoner also said today he expects GM to continue to expand overseas, with the strongest growth in China, India, South Africa and South American markets. He said he expected overseas sales to continue to surpass domestic sales, which first occurred in 2005.
Wagoner also said he thinks it will be three to five years before a Chinese vehicle is ready for the US market.
