"We don't need to do a deal. We have increased our equity stakes in Suzuki (Suzuki Motor Corp.) and Isuzu (Isuzu Motor Ltd.) in Japan," Smith said in an interview with CNBC television. "We are a global player today; that's really where Daimler and Chrysler are getting to and we are already there," he said in response to a question at the North American International Auto Show here.

And Smith said GM does not believe its market share is threatened by the combination of Daimler and Chrysler. "I don't think they take any of our market share. They are two strong companies but I don't think just because they come together they take any of our market share," he said.

Asked about the impact on General Motors of the introduction of the euro, Europe's new single currency, Smith said, "It doesn't have a big impact. I think it will help reduce costs of transactions in Europe and to that respect, that's a net positive to make costs lower, consumers will buy more," Smith said.

On the outlook for the year, Smith said the auto maker will face a major challenge this year as it begins negotiations aimed at reaching a labour contract with the United Auto Workers. "This is a national negotiation year and we'll have our work cut out for us but we're optimistic that we're on track," Smith said.

"It looks like it's going to be a great year for the industry; the market is strong in North America as well as Europe and we're looking for a good year," he added.