Filed under: Transport
According to today’s New York Times, General Motors is about to close four plants, reducing production of pickup trucks and large SUVs by about 500,000 units annually.
At the same time, the company announced plans for expanded production of smaller, more fuel-efficient cars, some of them based on a thrifty new 1.4-liter turbocharged engine. The plug-in hybrid Chevrolet Volt gets a firm introduction date no later than the fourth quarter of 2010.
CEO Richard Wagoner told reporters that rising fuel prices “ . . . are changing consumer behavior and changing it rapidly. We don’t believe it’s a spike or a temporary shift. We believe it is, by and large, permanent.”
GM announced last week that 19,000 union workers — 26% of its workforce — have accepted buy-outs.
Leave a Comment so far
Leave a comment