Ford and GM announce production cuts for first-quarter of 2009

GM and FoMoCo announced today that they will cut first-quarter North American vehicle production. GM said that during the first-quarter of 2009 it plans on building 600,000 vehicles – 235,000 cars and 365,000 trucks. That’s down 32 percent from the first-quarter of 2008 where GM built 885,000 vehicles –  360,000 cars and 525,000 trucks.

GM plans on building 835,000 vehicles in the fourth-quarter of 2008 with a breakdown of 380,000 cars and 455,000 trucks, reports Automotive News.

Ford said it will cut first-quarter production by 37.9 percent to 430,000 vehicles. That is the same number of vehicles it plans on producing in the fourth-quarter of 2008 representing a cut of 32.9 percent.