GM vice chairman Bob Lutz last night expressed confidence for the second half of the year despite conceding February was a very disappointing month for car sales.
The new Saab 9-4 X biopower is shown during the press day at the 78th Geneva International Motor Show today in Switzerland.
GM reported a 16 per cent decline in US sales on an adjusted basis for the month, with a drop in sales of large trucks and SUVs. It also cut its second-quarter production plan.
"We still expect the economy to recover in the second half," Mr Lutz said. "[But] our crystal ball is not that much better than anybody else's."
He was speaking at the unveiling of a Saab concept car at the annual Geneva motor show.
Yesterday, Ford reported a 10 per cent drop for February and said it would cut second quarter production.
But Ford is also forecasting a rebound in US industry sales in the second half of the year, an executive later said at a separate event.
Their forecasts stand in contrast to those of Chrysler president Jim Press, who said last week that such expectations were "wishful thinking".
The auto sales data represent one of the first snapshots of US consumer demand. Their weakness could provide more evidence for those who believe the US economy has slipped into recession.