The Welshman is backing his team to return to form after losing three of their opening six Premier League games and is adamant that the champions will still fight for the title
The reigning Premier League champions currently languish in 12th place in the table with just seven points from their opening six games.
United were beaten 3-1 at home by West Brom last time out and Giggs has called on his side to turn their form around.
"It hasn’t been a great start to the season but the good thing about that is we have plenty of time to turn it around," the veteran midfielder told reporters.
"I can’t put my finger on what has happened. We’ve just not played as well as we can both individually and as a team.
"The results have shown we haven’t played as well as we can do. But we know the quality in the dressing room.
"We’re the champions so we showed that quality last year and we have to show it again."
The Welshman also refused to use the departure of Sir Alex Ferguson as an excuse, reasoning that the team are simply not playing well at the moment.
"Sir Alex was a great manager and a great influence on the team and the club. You’re going to miss someone like that. But I don’t think that’s an excuse when individuals aren’t playing as well as they can," he added.
"We’re not playing well as a team. We haven’t got injury problems as we have had in the past. So there’s no excuse.
"It was a tough start for us because we played against all the top teams but that is no excuse. We just haven’t played as well as we can."
Giggs also feels his side can recover from their poor start and fight their way back to the top of the table - despite already lying eight point behind leaders Arsenal.
"It’s a weird season. City have been beaten twice. Nobody has hit the ground running who we’d have expected to," he argued.
"Obviously Arsenal are playing well, Tottenham and Liverpool are at the top, but there’s enough time for us to turn it around and get back to the top and stay there.
"There are other teams getting beaten around us. We have plenty of time but we need to start doing it quickly and at the weekend."