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GM to cut car production in North America

Video Credit: Reuters Studio - Duration: 00:59s - Published < > Embed
GM to cut car production in North America

GM to cut car production in North America

General Motors will significantly cut car production in North America and stop building some low-selling car models, sources tell Reuters.

And as Fred Katayama reports, it is expected to announce significant planned reductions to its North American salaried, executive workforce.

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GM to cut car production in North America

GM could make a major cost-cutting announcement Monday.

A source tells Reuters General Motors plans to significantly cut car production in North America and stop building some low-selling car models.

GM plans to halt production at assembly plants in Oshawa in the Canadian province of Ontario and in Ohio and Michigan in the United States by not allocating future new products there.

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A GM spokesman declined to comment.

Vehicle production at the Oshawa plant fell 60 percent in the first ten months of this year, according to Automotive News data.

GM is expected to transition to a new model that embraces electrified and automated vehicles.

Car sales in North America have been plunging, so GM has been slashing jobs.

And its rivals Ford and Fiat Chrysler have curtailed car manufacturing in the U.S. The source said GM didn't get as many volunteers among its salaried workforce to take the buyouts as it had hoped.

Shares of GM revved up at the market open on Monday, but they're down 12 percent for this year.




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