American car maker GM has announced that it should return to be a profit making company by 2010.

According to sources inside the company, the maker is on the upturn â even though it lost £31.36bn in the past 18 months.

As we told you there has been interst from Russian and Indian car makers in the Hummer brand and GM is still talking about off-loading the iconic brand as demand for large sports utility vehicles as waned due to high fuel... // Fleet Directory

BBC News (Enlarge photo)

US car giant General Motors (GM) is hoping to return to profit in 2010, a top executive at the firm has said.

In the past 18 months, GM has lost $57.5bn (£31.36bn), $15.5bn in the second quarter of 2008 alone.

GM has closed factories and laid off staff but has struggled to counter a slowing economy and rising fuel prices.

If GM continues to cut costs and car sales recover in 2010 "we would hope to have the corporation profitable again by then," vice chairman Bob Lutz said.

But he added: "At this point, the future is so cloudy in terms of the development of the market, when it's going to pick up... // BBC News