Summary
WILMINGTON, Del. -- General Motors Corp. officially blew up its old business model Tuesday, closing four pickup truck and sport utility vehicle factories, announcing a new small car that could get 45 miles per gallon and shedding 8,350 jobs in the process.
Now the world's largest automaker by sales needs to figure out how it can sell enough cars to make money in a shrinking U.S. market and stay ahead of the bill collectors.See the full content of this document
Extract
Gm Restructuring Includes Factory Closures
The automaker said it would idle pickup and SUV factories in Janesville, Wis.; Oshawa, Ontario; Moraine, Ohio; and Toluca, Mexico, as it tries to deal with a shift to smaller vehicles brought on by $4 per gallon gasoline. GM also took aim at the Hummer, one of the largest vehicles on U.S. highways, saying it would either be sold or get a...
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