On Wednesday, General Motors Co's Chairman stressed that over 2010, the automobiles manufacturer is all set to make money and jump into profits, an announcement which is being seen as very bold and surprising coming from the firm which has just managed to exit bankruptcy proceeding, and has not managed to post any profits since 2004.

"My prediction is we will be profitable in 2010. "Do we have obstacles in the way? Yes. But we have a good management team and a good plan in place", said Edward E. Whitacre Jr., in a statement which not only shows rising confidence, but also sets a tough target for the employees of a still-struggling marker of automobiles.

According to Mr. Whitacre, who took over as the Chief Executive temporarily last month, the firm's new Chief Financial Officer, Chris Liddell, who is joining GM from Microsoft Corp, has very strong potential to become GM's next CEO.

Mr. Whitacre was named the Chairman by the Obama Administration after GM's bankruptcy reorganization last summer, which was mainly funded by taxpayers.

"GM's sales are going to rise, and the macro economy will provide the tailwind it needs to return to profitability. GM has been in restructuring mode and you can't underestimate the overhead and cost structure that has been taken out", said Erich Merkle, an analyst at Autoconomy. com.