The head of General Motors Europe, Claus-Peter Forster, dismissed rumours that the auto giant was close to bankruptcy in a German press interview released on Thursday.
“These rumours do not correspond to reality,” Forster told the weekly news magazine Der Spiegel. “It is true however that we must succeed in restructuring US activities in the next year and a half.”
Rumours have circulated for several days regarding GM's cash position, and the US auto giant has sought several times to reassure investors.
Since the beginning of the month, GM shares have fallen for the first time in 50 years below 10 dollars (6.37 euros) on the New York Stock Exchange.
Forster also clearly denied the possibility of GM selling other brands after announcing it might give up its gas-guzzling Hummer sports utility vehicle.
“The sale of Hummer is under discussion. Information according to which other brands might also be for sale is pure speculation,” he told Der Spiegel in an interview published on the German magazine's website.
In early June, GM announced a shift in strategy, saying it would focus on more economical models to try and stem falling sales in the United States.
