GM to Cut Vehicle Production 12 Percent
Posted on: Friday, 1 September 2006, 15:00 CDT
General Motors Corp. said Friday it would cut North American vehicle production by about 12 percent in the fourth quarter.
The world's largest automaker said it expected to produce 1.13 million cars, trucks and SUVs between October and December, down about 150,000 vehicles from the same period in 2005.
The news came in the same monthly sales report that said GM's U.S. auto sales rose 3.9 percent in August.
Ford Motor Co. announced in August it would cut fourth-quarter production by 168,000 vehicles, or 21 percent, to bring supply back in line with growing inventories.
DaimlerChrysler AG's Chrysler Group said it would cut production in the fourth quarter by an unspecified amount. The company cut production in the quarter ending Sept. 30 by 10 percent.
GM shares rose 88 cents, or 3 percent, to $30.06 in afternoon trading on the New York Stock Exchange.
Source: United Press International
Related Articles
- Western Goldfields Announces First Quarter Production and Status of the New Gold Business Combination
- Fourth-quarter productivity figure lowered
- Western Goldfields Announces 2009 Outlook and Fourth Quarter Production Update for the Mesquite Mine
- Double Eagle Petroleum Co. Reports Record Quarterly Production Results
- New Gold Announces Third Quarter Production Results and Cash Cost in Line With Annual Guidance
- Western Goldfields Announces Improved Mine Plan for Mesquite, Releases Third Quarter Production Results, and Revises Full-Year Production Target
- FX Energy Gives Second Half 2007 Operations Update; Provides Fourth Quarter Production Estimate
- PetroQuest Energy Increases Third Quarter Production Guidance and Updates Operating Activities
- Penn Virginia Corporation Provides First Quarter 2006 Oil and Gas Operational Results; Announces Fourth Consecutive Quarterly Production Record
- China to Cut Steel Production
 |
 |
User Comments (0)
RSS Feeds