GM To Cease Production Of Medium-duty Trucks
After failing to find a buyer, General Motors (GM), which has filed for bankruptcy protection, has decided to wind down production of its medium-duty trucks by the end of July 2009.
The automaker will stop manufacturing GMC Topkick and Chevrolet Kodiak commercial trucks at its Flint assembly plant, which also makes Chevrolet Silverado and GMC Sierra pickups.
Fritz Henderson, Chief Executive of GM, said that the medium-duty truck business had not been successful for years, and that workers would be deployed to other facilities or offered an attrition program.
Owing to recession in the US economy, the company sold about 20,000 of the vehicles last year, down from around 30,000 in 2007.
Four years ago, GM started its search for a buyer for its medium-duty line to raise capital and streamline its North American operations. Navistar International emerged as a potential acquirer in December 2007, but the deal fell apart in August 2008.
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