GM to cut car production in North America, halt some models: source [View all]
Last edited Mon Nov 26, 2018, 12:19 PM - Edit history (1)
Source: Reuters
DETROIT/WASHINGTON (Reuters) - General Motors Co plans to announce as early as Monday it will significantly cut car production in North America and stop building some low-selling car models, a source briefed on the matter said.
GM plans to announce a broader restructuring of its efforts as it shifts more of its focus toward electrified and autonomous vehicles, the source said.
GM declined to comment ahead of an expected announcement at mid-morning.
Cost pressures on GM and other automakers and suppliers have increased as demand has waned for traditional sedans. The company also has said tariffs on imported steel, imposed earlier this year by the Trump administration, have cost it $1 billion.
-snip-
BUSINESS NEWS NOVEMBER 26, 2018 / 8:29 AM / UPDATED 5 MINUTES AGO
Paul Lienert, David Shepardson
4 MIN READ
Read more: https://www.reuters.com/article/us-gm-restructuring/gm-to-cut-car-production-in-north-america-halt-some-models-source-idUSKCN1NV1NB
Updates: (thanks DonViejo in GD):
https://www.democraticunderground.com/100211474060
G.M. to Stop Production at 5 Plants in U.S. and Canada (New York Times)
GM to lay off 15 percent of salaried workers, halt production at five plants in U.S. and Canada (Washington Post)
= new reply since forum marked as read