DETROIT, March 27 General Motors Co is laying
the groundwork for 10 percent margins over the next several
years through "a fairly significant improvement" in both revenue
and cost structure, GM North American Chief Financial Officer
Chuck Stevens said.
The largest U.S. automaker needs an additional $2.5 billion
to $3.5 billion in earnings against its current revenue base to
reach that goal, Stevens said on Wednesday during an investor
conference held on the same day as the New York auto show.
Over the next four years, GM will be launching new vehicles
at twice the pace of the previous four years, Stevens said. By
2016, nearly 90 percent of GM's sales volumes will be drawn from
recently launched models, which will help boost vehicle prices.
Stevens said he expects GM to double its entry-level hourly
workforce in the United States over the next two to three years.
These workers make less money than veteran workers.