GM plans more restructuring, may cut back SUV and pickup production

A source familiar with GM’s plans told The Associated Press that GM’s top managers are working on additional restructuring moves to deal with the declining U.S. market and the shift away from trucks and SUVs to more fuel-efficient compact cars.

The anonymous source said the plan is still under work and would not give any details on what Rick Wagoner and his main men are talking about. However, many expect the same type of plan that Ford laid out last week by shifting away from truck and SUV production and a faster rollout of more crossover and car models.

GM has already announced that it will quickly eliminate a shift in each of its Flint and Pontiac pickup truck factories.

The General’s shares dropped to a 27 year low after Citigroup changed the company”s outlook from “˜buy” to “˜hold.’

 

Source: Automotive News (Subscription Required)