| Page 2 of 2 < |
GM to Trim Production of Trucks, SUVs
|
TOOLBOX
   Resize
COMMENT
 Discussion Policy
 CLOSE
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.
Who's Blogging  |
"The direct answer is we need to," Wagoner told reporters. "We believe we can build a car there profitably."
The new car is likely to be priced higher than the Cobalt, which runs in the mid-teens depending on how it's equipped. It would hit showrooms in the second half of 2010.
Wagoner also announced that the board of directors has approved production of the Chevrolet Volt plug-in electric car, which GM plans to bring to showrooms by the end of 2010.
Fully charged, the Volt could drive about 40 miles without using any gasoline, and a small conventional engine would recharge the vehicle, allowing it to get the equivalent of 150 miles per gallon.
News of the job cuts was devastating to communities that house the factories, but hourly workers are likely to move to other plants to replace 19,000 who will leave the company this year under early retirement and buyout offers.
However, the misery isn't over. Wagoner said GM is working on consolidating engine, transmission and other parts operations to go with the assembly plant cuts.
Shares of GM rose 14 cents to $17.58 in trading yesterday.
