GM to shut Detroit factory for 5 weeks to control inventory

Share
GM to shut Detroit factory for 5 weeks to control inventory

General Motors plans to idle its Detroit-Hamtramck assembly plant for six weeks, according to a new report.

The Detroit-Hamtramck plant will likely produce 20 percent fewer vehicles once production resumes in 2018, the Journal said.

Meanwhile, Reuters reported Wednesday that GM has warned a striking Canadian labor union that if it doesn't call off a monthlong walkout, the automaker will shift production of the top-selling Chevrolet Equinox SUV to Mexico.

Earlier this year, GM eliminated the plant's second shift, saying it was laying off around 1,200 workers.

USA sales have slowed for all automakers this year - notably in the category of passengers cars, as customers have preferred SUV and crossover models, as well as light trucks. They include the Buick LaCrosse, sales of which are down 21.5% year to date, and the Chevrolet Impala, which is down 31.8%. The automaker announced last month that it would cut the third shift at its plant in Spring Hill, Tennessee, as of late November.

GM and its peers have been cutting production at auto plants as consumers have rapidly shifted to buying sport utility vehicles. GM is also expected to let 200 workers go when production is cut next year. "This action continues to show that GM remains price disciplined" by cutting production instead of increasing incentives.

GM has found alternative work for 2,900 affected hourly workers. Shares were down 1.6 percent to $44.74 at 10:41 a.m.

Share

Advertisement

Related Posts

Wal-Mart Stores, Inc. (WMT) Position Cut by Tdam USA Inc
Boltwood Capital Management divested its investment by shedding 297 shares a decrease of 1.5% from 06/30/2017 to 09/30/2017. Wal-Mart Stores, Inc.is engaged in the operation of retail, wholesale and other units in various formats around the world.

Manulife Financial Corp.'s (MFC) Outperform Rating Reaffirmed at BMO Capital Markets
Over a month, it has seen its stock price volatility to stay at 2.81% while shortening the period to a week, volatility was 2.18%. The stock of Calpine Corporation (NYSE:CPN) earned "Neutral" rating by Suntrust Robinson on Wednesday, August 24.

New Pokémon Ultra Sun and Ultra Moon Z-Moves and Features Revealed
The trailer also reveals that Necrozma will have access to a new move called Photon Geyser, although its effects are now unknown. A Ghost-type Z-Move, Menacing Moonraze Maelstrom can be used by a Lunala that knows Moongeist Beam and is holding Lunalium Z.

The Next Four Marvel Movies Are Said To Be Very Different
Star Wars Celebration is a vast Star Wars fan event, operating on a similar scale to Comic-Con. It's interesting that Marvel is thinking about organizing its own convention.

Special session idea No. 3: Children's health insurance funding
CHIP has always received strong bipartisan support, and it's time to act to ensure the continuation of this vital program. That rate has dropped from 14.8 percent in 1996 to 4.5 percent in 2016, and there's little doubt CHIP is the main reason.

Oops! Rahul Gandhi erroneously enters ladies washroom in Gujarat; images go viral
Mumbai: Congress vice president Rahul Gandhi does not seem to let go of any chance to take a dig at Prime Minister Narendra Modi . Gandhi visited the district to address tribal students at Durbar Hall as a part of his three-day "Navsarjan Yatra".

Life Is Strange: Before The Storm Episode 2 out next week
Life is Strange : Before the Storm is a prequel to Dontnod's well-received episodic story-driven, episodic adventure Life is Strange .

GOP Senator: Is Trump 'Recanting' His Oath Of Office?
Trump tweeted in response: "Fake @NBCNews made up a story that I wanted a "tenfold" increase in our USA nuclear arsenal". When later asked whether he wanted to place limits on the press, Trump said, "No". "They are really dishonest people".

Paris plans to banish all but electric cars by 2030
A study carried out by an air quality monitoring group said Monday the move had had a limited impact on air quality. Hidalgo also introduced car-free days and zones as well as a 20-mph (32 kph) speed limit throughout the city.

Amazon and Microsoft team up to create deep learning interface
Gluon supports symbolic and imperative programming, which is something not supported by many other toolkits, Microsoft explained. First, more deep learning providers will need to add support for Gluon, letting developers decide which AI toolchain to use.

© 2015 ExpressNewsline. All Rights reserved.