Today GM released the announcement to its employees and to the public that they have plans to majorly cut production including 4 truck plants. The slow in the economy and high gas prices is obviously a major factor in the decision that GM is making in the upcoming months. Surprisingly Rick Wagoner, GM’s CEO, announced possible closing of plants that make many GM SUV’s and trucks with a mention of a possible removal or sale of Hummer which may remove this brand from the market all-together.
This may come as a surprise when you listen to Rick Wagoner mention the closing of plants that produce the Chevy Tahoe/GMC Yukon. We all know that is a big monster in the SUV market but we also know the SUV market is diminishing very fast mainly due to the fact that SUV’s consume A LOT of gas and the economy just cannot support the high price of such vehicles.
CNN.com posted the news this morning and reads: