Posted on 11/26/2018 9:07:04 AM PST by tcrlaf
Amid flagging sales, General Motors confirmed on Monday that it will no longer make the plug-in hybrid Chevy Volt, ceasing production on March 1st, 2019. The news comes as part of a wider plan by GM to slash car production in North America and halt production of several low-selling brands. Trading on GM shares was briefly halted on the stock exchange early on Monday in anticipation of “major operational changes,” according to CNBC.
GM plans to “unallocate” three assembly plants — in Oshawa, Ontario; Detroit, Michigan; and Warren, Ohio — putting the future of those plants in doubt, Reuters reports.
The move will necessitate layoffs of salaried executive employees. “Actions are being taken to reduce salaried and salaried contract staff by 15 percent, which includes 25 percent fewer executives to streamline decision making,” GM said in a statement. An estimated 14,000 factory workers and white-collar employees stand to lose their jobs, according to The Associated Press.
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I haven’t had much sympathy for GM since Obama stole the company.
GM must be sticking its hand out for another taxpayer handout.
My first car was a GM product. Never again.
Will Michael Moore do a sequel. “Mary and Me”?
But...but...the obama bailout was supposed to fix GM.
All that taxpayer money....wasted?
Suckers.
GM and anyone who bought a Volt.
I haven’t owned a GM product in over twenty years, but the few times I have borrowed or rented one I was not impressed.
They are basically making crap. Even as compared to their low-end Korean competitors.
Well, when the government stops giving you money to build a car no one wants, you stop making them.
Me either. I ran a GM dealership for 17 years, went to Ford before their BK and never looked back.
Lol, the government bought all those Chevy Volts and they still weren’t enough to save GM.
Might have helped if they didn’t try to make an Enviro-wacko version of the Trabant.
Surprise, surprise, another Obama "legacy" turd flushed down the toilet.
How many tax dollars went down the Volt rat hole?
Remember when GM said they wouldn’t be exporting from Chinese plants to the US?
Yeah right!
Trump should tariff the heck out of vehicles.
Taxpayer money was wasted. Shareholders of GM stock were screwed, but union votes went to Obama, so the plan worked! GM will be bankrupt again.
I have deep roots in GM. My grandpa started ad Cadillac in the 1920’s. I always bought Chevies until 2009. In 2009 they shut down my dealer ( I believe they chose dealerships to shut down on politics) and at that point I paused then said ...it is over...I am not a GM guy any more
I will never own a GM product ever again. I have two GM Vehicles left, one I will give to my parents and the other I want to drive off a cliff.
I will buy another Dodge Truck when I need to, but my next car will be a BMW and my next van will probably be a Mercedes Sprinter.
Chevys are shit
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