The End of the Hummer Era?
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CNN: The average price for gasoline is $3.98 a gallon.
The New York Times is reporting that GM is closing four plants:
Responding to a consumer shift to more fuel-efficient vehicles, 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 moves, announced Tuesday by the company chairman, Rick Wagoner, will slash 500,000 units from the automaker’s overall production, and pave the way for increased investment in smaller cars and passenger vehicles. Within three years, he said, trucks will account for less than 40 percent of the vehicles that G.M. produces in North America, down from about half today.
Mr. Wagoner said that rising gasoline prices had forced a “structural shift” by American consumers away from truck-based vehicles built by G.M.