General Motors (GM) says it has emerged from bankruptcy¹ protection after creating a "new GM" made up of the carmaker's best assets.

通用汽车称在利用汽车制造商最好的资产创造了“新通用”之后，通用已经从破产保护的边缘回来了。

GM chief executive Fritz Henderson said it was the beginning of a "new era".

The leaner GM will own four key brands including Cadillac and will be 61% owned by the US government.

Mr Henderson said negotiations² were continuing "around the clock" to conclude a deal to sell GM Europe, which includes Opel and Vauxhall.

Mr Henderson said that GM would take the "intensity³（激烈，强度）, decisiveness and speed" of the bankruptcy process and apply it to the new company.

"We will be profitable, we will repay our loans as soon as possible and our cars and trucks will be among the best in the world," he said.

A smaller GM is being created with a reduced workforce⁴, smaller dealer⁵ network and less debt.

'Cautiously optimistic'

Industry analysts⁷ interpreted the short timeframe of the bankruptcy as a good sign.

"It is the smaller, leaner, tougher, better cost-focused GM," said George Magliano, an automotive analyst⁶ with consulting firm IHS Global Insight.

"But they still have to deal with the problems that they faced longer-term."

Analysts argue that GM will need to change what it offers consumers and produce more cutting-edge vehicles.

"I'm still cautiously optimistic - they still need to put a product out there that everyone is excited about purchasing," said Pete Hastings, analyst at Morgan Keegan.

"The challenge in the future is how to approach a marketplace that has been burned by GM," he added.

Fewer brands

The firm lost its title as the world's largest vehicle-maker in January.

Toyota sold 8.97 million vehicles in 2008, while GM's global sales had dropped to 8.35 million vehicles.

The new GM will operate with 27,000 fewer US employees and operate 13 fewer US car plants compared with last year.

It will operate the strongest parts of the old company, with only its Chevrolet, Cadillac, Buick and GMC brands remaining. Others such as Hummer and Saab are being sold off.

The company's logo will remain the same; blue with white GM letters underlined.

Edward Whitacre, GM's chairman, said the firm's new 13-member board should be in place in about three weeks.