SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Clown-Free Zone... sorry, no clowns allowed
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: KeepItSimple who wrote (54414)1/5/2001 9:05:09 AM
From: Ilaine  Read Replies (1) of 436258
 
>>GM to close eight plants temporarily
By Nikki Tait in Chicago
Published: January 5 2001 01:39GMT | Last Updated: January 5 2001 10:05GMT

General Motors, the US car and truckmaking giant, will temporarily close
eight plants in North America, making idle about 21,000 employees, as it
tries to pare back automotive inventories in the face of the industry
slowdown.

The announcement comes a day after GM revealed that its December sales
fell by more than 17 per cent, compared with the same month a year ago, and that stocks of
unsold vehicles had risen to about 100 days' production.

The company acknowledged that the stock figure was higher than it would like, although it
said the monthly sales drop had been exacerbated by the timing of some fleet sales.

GM said that the closures were part of its previously-announced plan to cut first-quarter
production by nearly 15 per cent.

Separately, DaimlerChrysler, which announced its own round of production cuts on
Wednesday, said it would discontinue production of the Jeep Cherokee by the middle of the
year.

The company is preparing to launch the new Jeep Liberty, and said on Thursday that it will
invest an extra $35m in the Toledo plant, where this will be manufactured, to increase
production flexibility. Jeep Cherokee production had originally been due to end in November
last year.<<

news.ft.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News