DETROIT (June 3, 2008) — General Motors Corp. said it is shutting down production at four of its plants that build full-sized pickups and SUVs and it is considering "all options" with its Hummer brand — including a possible sale.
The moves are the result of high gas prices, which GM now views as a permanent market condition, CEO Rick Wagoner said.
GM is reacting to $4 a gallon gasoline prices by making major cuts in its full-sized pickup and SUV production and increase compact car production.
Production is set to halt at the Oshawa, Ontario, truck assembly operations; the Moraine, Ohio, plant; the Janesville, Wis., medium-duty truck unit; and the Toluca, Mexico medium-duty truck facility.
Wagoner said each plant employs about 2,500, but it's unclear if workers will be transferred or laid off.