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General Motors Corp. (GM), in response to its auditors casting doubt on its viability plan, said on its corporate blog that it still believes its restructuring will lead to long-term success.

GM's continuing losses and inability to generate cash for continued operations led auditors from Deloitte and Touche to determine there was substantial doubt that the company can survive. GM admitted many factors, some of which are out of its control, contribute to its uncertain future, but maintained its vision for long-term prosperity.

"We acknowledge the challenges and risks that face us today, but we're still going forward with our plan, we're still making the best cars we've ever built, and we're still rebuilding our company for long term viability," Steve Harris, vice president of global communications, wrote on GM's FastLane Blog on Thursday night.

He noted the viability plan will position GM "not just for survival but success" as the market recovers and global auto sales reflect a strengthening economy.

"I know, some will say that this sounds like corporate-speak. But what does anyone expect - that we'll pick up our marbles, say 'They're right,' and go home? Sorry we're planning on being around," Harris added.

GM executives have used the blog in recent weeks to describe to the public details of its restructuring plan and explain why bankruptcy isn't the best option for its future. Several blog posts have also attempted to correct ways in which it felt it's been misrepresented in the media.

GM previously said it could cost as much as $100 billion to restructure and emerge from bankruptcy. But The Wall Street Journal reported Friday that top executives may now be more willing to accept a speedy bankruptcy reorganization financed by the government.

Harris posted a follow-up blog entry on Friday afternoon, saying GM hasn't changed its stance on bankruptcy.

"Restructuring the business out of court remains the best solution for GM and our constituents," Harris said.

He noted GM has analyzed various bankruptcy scenarios, but still firmly believes that an in-court restructuring would carry tremendous risks, including "a dramatic deterioration of revenue due to lost sales."

"That's the deal, folks. We haven't changed our thinking. You analyze every option, but you move ahead with the one you think is best for the company. That's what we're doing," he said.

GM shares, which have lost more than 90% of their value over the last year, were recently down 23% at $1.43.

"We understand all too well the challenges we face at this time and in this truly difficult economy," Harris said. "But we're not giving up, we're not giving in, and we sure aren't planning on going away."

-By Steven Russolillo, Dow Jones Newswires; 201-938-2205; steven.russolillo@dowjones.com