It has assigned one of its top four managers, Gary Cowger, to explore the possibility of a deal soon.

ECONOMIST: Detroit's finest are in dire straits

Cowger also told reporters that the company would accelerate the design of new products and speed up the introduction of new vehicles in production.

FORBES: GM's Bumpy Ride

Mr Cowger suggested last month that the firm would save billions if only blue-collar workers would accept the less enticing benefits offered to the firm's white-collar staff.

ECONOMIST: Dazzled by the rising sun | The