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1. General Motors'China CEO Rick Wagoner predicts at least another six months before a turnaround, and Hyundai Motor Co warns the market could stay flat next year.

2. General Motors'CEO Rick Wagoner is seen in this file photo.

3. Wagoner said another part of the company's strategy is to make GM's eight brands more distinct from each other.

4. GM shares have lost 54 percent of their value since Wagoner took over almost eight years ago.

5. He was not surprised by the move, but said he is disappointed because he considers Wagoner a capable leader.

6. Wagoner said GM and its joint ventures will continue to invest an average of 1 billion annually in China.

7. York quit the board and Kerkorian later sold his GM stock when Wagoner decided to remain independent.

8. Wagoner said it was vital for the company to cut costs by improving efficiency at its manufacturing plants.

9. Wagoner and Mulally were reluctant to talk ahead of Friday's quarterly earnings, which analysts expect to be dismal.

10. Wagoner said China will overtake the United States as the world's biggest vehicle market in the next decade.