Wagoner: Worst may be over for GM

GM’s CEO Rick Wagoner is pretty optimistic about the future of GM. In a recent interview during his attendance to the 2008 Olympics in Beijing, Wagoner said that the worst is over for GM in terms of job cuts, health care costs and pension issues.

“I would say, from an assembly perspective [the pain] is largely behind us,” Wagoner told the Financial Times in Shanghai.

Wagoner said the he expects the much growth in emerging markets which is expected to be 80 percent of global auto industry growth in the next 5 years. GM sold more than a million cars in China last year and is GM’s second largest market after the U.S.

Source: AutoObserver