Chrysler has announced this morning that it's moving up the closing of its Newark, DE assembly plant. The closure was originally announced in February 2007 and was planned to happen later in 2009. Instead, the plant will be shuttered effective December 31, 2008. Newark is the home of the Chrysler Aspen and Dodge Durango SUVs, products whose sales have tanked this year. At this point, we're still trying to find out what this means for the Aspen and Durango. Chrysler has not said if production wil
General Motors has announced that it will close its Grand Rapids metal and die plant by the end of 2009. The announcement comes one day after the General said it would close its Janesville, Wisconsin-based SUV assembly plant by the end of 2008, and one week after it announced the same production end date at its Moraine, OH plant. The closure of the Grand Rapids metal and die plant won't make the same waves as the two assembly plants, but the facility employs a substantial 1,340 hourly workers an
Gas prices in excess of $4 a gallon and a collapsing market for new home construction is triggering General Motors to undertake yet another round of restructuring and plant closings. The latest victim of the rapidly changing American automotive marketplace may be perpetual green whipping boy, the HUMMER brand. General Motors has just begun a strategic review of HUMMER. Ahead of today's annual meeting GM CEO Rick Wagoner has revealed that the HUMMER could either be strengthened or disposed of goi
Following a slew of labor problems including the American Axle strike that cost an estimated $2 billion, General Motors is restructuring to accommodate the declining U.S. auto market. Following the lead of Ford and Chrysler, the move will likely include further cost cutting and layoffs, as production of thirsty truck and sport-utility vehicles is wound down to make room for more fuel efficient vehicles. Information is sketchy at this stage, but plan on learning the details when the restructuring
General Motors held a conference with analysts today in which it outlined the automaker's turnaround progress and plans for 2008, the result of which is a press release (after the jump) that is the most boring piece of literature ever to be read. We tried, and were comatose by the first set of bullet points. Those who soldiered on, however, discovered that GM's cost-cutting plans for 2008 include offering worker buyouts to 46,000 eligible employees and potentially closing more facilities.