General Motors chief executive Rick Wagoner has said that he is hopeful that the automaker will make a profit in 2007 after struggling with weak sales, high costs and stiff competition in 2006.

In an interview on Monday with Reuters Television at the North American Intermational Auto Show, Wagoner was asked when GM would return to profitability.

“We certainly hope so this year,” Wagoner told Reuters.

The news agency noted that, for the first three quarters of 2006, GM lost $US3.05bn and $10.6bn for full year 2005.