General Motors gave notice that it will seek fresh concessions from its US workers and further cost savings from overseas operations as part of a more aggressive drive to stem heavy losses at the world’s largest carmaker.

The savings are projected to amount to $14bn a year by 2010, based on 2005 revenues - twice the current target. “We realise that we can and must do more on all four elements of the turnaround plan,” Rick Wagoner, chief executive, told analysts in Detroit on Friday.