by Calculated Risk on 6/03/2008 10:06:00 AM

“Since the first of this year, however, U.S. economic and market conditions have become significantly more difficult. Higher gasoline prices are changing consumer behavior, and they are significantly affecting the U.S. auto industry sales mix.”
GM Chairman Rick Wagoner, June 3, 2008

From the NY Times: G.M. Closing 4 Plants in Shift From Trucks Toward Cars

General Motors said Tuesday that it would stop making pickup trucks and big S.U.V.s at four North American assembly plants and would consider selling its Hummer brand.

... the company ... will slash 500,000 units from the automaker’s overall production ...

More bad news for the auto industry (although shifting away from large SUVs is probably good news in the long run).