DETROIT -- General Motors' turnaround is under way, says CEO Rick Wagoner. But he cautions against expectations of a quick recovery.
The automaker's retail sales will be flat or up slightly for the year, he predicted in an interview Thursday, April 6.
And Wagoner says he is determined to reduce incentives and fleet sales.
General Motors can defend its current market share, Wagoner says, but increasing it will be an uphill battle.
"We're going to have to do a better job on the retail side," he admits.
Through March, GM had 23.9 percent of the U.S. light-vehicle market, down from 26.0 percent for all of 2005. Both figures exclude Saab.
Wagoner made his comments four days after GM's board gave him a vote of confidence. Since the board's vote, Wagoner has gone on a public relations offensive, granting interviews to Newsweek, The Wall Street Journal, The Detroit News, Detroit Free Press and Automotive News.