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GM Will Cut SUV, Pickup Output
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| Contributor | ArmyDem |
| Last Edited | ArmyDem Apr 29, 2008 05:38pm |
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| Category | News |
| Media | Newspaper - Washington Post |
| News Date | Tuesday, April 29, 2008 11:00:00 PM UTC0:0 |
| Description | Four Factories To Lay Off 3,500
By Michael S. Rosenwald
Washington Post Staff Writer
Tuesday, April 29, 2008; Page D01
With gas prices soaring and consumers increasingly pinched for cash, General Motors said yesterday that it is facing "market realities" and slashing production for full-size pickup trucks and sport-utility vehicles.
The move will force layoffs of about 3,500 GM workers at three plants in the United States and one in Canada. Michigan will be hit particularly hard, with 1,900 job losses in Flint and Pontiac. The other layoffs will be at factories in Janesville, Wis., and Oshowa, Ontario.
GM plans to cut North American production capacity for 2008 by about 88,000 pickups and 50,000 SUVs. GM executives acknowledged they were reacting to a shift in consumer tastes in two areas the company has long dominated and that were once the fastest-growing segments of the U.S. market.
Across the industry, first quarter sales of SUVs were down 26 percent, and full-size pickups were down 15 percent from a year earlier, according to GM figures.
"With rising fuel prices, a softening economy, and a downward trend on current and future market demand for full-size trucks, a significant adjustment was needed to align our production with market realities," said Troy Clarke, GM's president for North America. "This is a difficult move, but we remain committed to retaining and growing our leadership position in the full-size truck market." |
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