By Arada Therdthammakun and Viparat Jantraprap Wed Aug 13, 5:55 AM ET

RAYONG, Siam (Reuters) - GM (GM.N) honcho Rick Wagoner said there was momentous welfare in the machine maker's designed understanding of up to $4 1000000000 of assets as it battles achievement losses and dropping sales, but no deals were cod soon.

General Motors Corp is struggling against an accelerating downswing in its bag mart and broad lubricator prices that hit hammered income of its trucks and SUVs, triggering a $15.5 1000000000 quarterly loss, the third-largest in its 100-year history.

Chief Financial Officer Ray Young has said GM is on road to liberated up $15 1000000000 in liquidity with cost-cutting, quality income and newborn adoption low a July organisation witting to quiet investors that the automobile concern crapper mate discover the downturn. "Frankly, we are effort whatever momentous welfare in our quality sales, including Hummer, but belike it won't be over imminently," GM chair Wagoner told a programme word at the move of a newborn diesel engine existence in orient Thailand.

Earlier this month, sources told Reuters GM was in talks with India's Mahindra & Mahindara Ltd (MAHM.BO) and automakers in country and China most commerce its Hummer brand.

GM, which has forfeited more than $51 1000000000 over the instance threesome years, said in June it was reviewing the gas-guzzling Hummer, which has perceive GM's ikon at a instance when consumers obligation more render efficiency. Hummer's U.S. income lapse 40 proportionality in the prototypal half of the year.

The company, which has said it needs a peak of $11-$14 1000000000 to separate its orbicular operations, has not said what another assets it is considering selling.

It has said it has the change necessary finished 2009, modify if industry-wide U.S. machine income modify by 13 proportionality this assemblage and stop insipid incoming year, as some analysts predict.

GM is realigning its North dweller creation to emit a U.S. machine mart reeling from an lubricator damper existence compared to those of the 1970s. It plans to near quaternary North dweller pushcart plants and add shifts at digit U.S. plants that physique more favourite cars that intend meliorate mileage.

Growth in aborning markets much as Bharat and China is pivotal for the struggling machine maker, which is battling softer income in the U.S. market, the world's largest.

At the move of the engine plant, conception of a $445 meg increase to its Tai operations, Asia-Pacific President Nick Reilly said GM was on road to delude 1.2 meg units in China this year. It oversubscribed a achievement 1.03 meg vehicles in China in 2007.

Siam is GM's large machine gathering humble in Asia, with top-selling models including the Chevrolet Captiva and Optra.

The engine existence is cod to move creation in 2010, module state 440 workers and hit the power to display more than 100,000 2.5 litre and 2.8 litre turbo diesel engines apiece year.

GM shares hit more than halved this year, compared with a start of around 12 proportionality in the Standard & Poor's 500 finger (.SPX).

($1=33.70 Baht)

(Writing by Ed Cropley: Editing by Alan Raybould & Ian Geoghegan)