Lutz Does Not Believe GM Will Become Profitable This Year

CNBC has quoted Bob Lutz, Vice Chairman of General Motors (NYSE; GM), as saying that the demand for cars in the US may rise to up to 12 million units in the current year, as the economy has bottomed. Lutz, however, refused to comment on the probability of GM becoming profitable in the year.

Lutz added, "I think the goal would be to make money on an operating basis…we're sure going to fight for profitability." Lutz praised the company’s Chief Executive Officer, Ed Whitacre, on his intuitive nature and common sense, which he said is required among managers. He believes that Whitacre has a good approach for GM.

Lutz made these comments on the opening day of the Detroit auto show.