GM cuts production of 117,000 more vehicles
Meanwhile, the automaker and the Canadian Auto Workers union reached an agreement to boost the number of vehicles produced at a new plant in Oshawa in a deal that helped resolve a dispute over a planned truck plant closure.
The production-cut decision comes less than two weeks after GM Chairman and CEO Rick Wagoner outlined a series of cost-cutting measures designed to boost cash flow by $15 billion.
"This is the detail of how we're getting there," company spokesman Tony Sapienza said. "We're balancing our production based on what consumers are telling us they want."
[Editor's Note: We have been saying this for years. The mentality of the mental midgets that run the USA auto companies has always been to announce incentives and give cars away with zero profit to keep production numbers up instead of cutting production to meet demand. It took them this long to figure that out. And for this they get paid millions of dollars a year. Imagine that!]