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The company also said it will increase factory capacity 45 percent in Brazil, Russia, India and China by 2014 to take advantage of growth.

However, Chairman and CEO Dan Akerson cautioned that there is much uncertainty with volatility in the stock market and global debt concerns, saying it’s difficult to predict what will happen to car and truck sales this year.

GM said it plans to cut costs by halving the number of frames it bases its vehicles on across the globe. In 2010, GM had 30 frames, known in the industry as platforms. By 2018, it plans to cut that number to 14. It also will sell more of the cars and trucks built on those platforms around the globe, saving on manufacturing, engineering and design costs. The company also plans to cut the number of engines it develops.

From wire dispatches and staff reports