A new bit of General Motors news includes the company’s plans to kill several cars.
General Motors (NYSE:GM) notes that it will stop making certain cars in the near future as it prepares to shift focus away from the vehicle type. This comes as the company continues to see declining sales for cars in the U.S.
The following is a list of the cars that the recent General Motors news mentions will be ending production.
- Chevy Volt
- Chevy Cruze
- Chevy Impala
GM notes that it will be ending production of these cars starting next year. There are also several other cars that will not see U.S. sales starting in 2019. This includes the Cadillac XTS, the Cadillac CT6 and Buick LaCrosse. These cars will still be available for purchase in other countries, reports USA Today.
These cars are far from the only casualties of the recent General Motors news. The company has also announced that it will be laying off some 14,000 employees to cut costs and streamline its business.
According to GM, it will be reducing its salaried and salaried contract staff by 15%. This includes a 25% cut of executive jobs. The company is also planning to close down several plants next year as it moves forward with plans to save money and shift its focus away from cars. You can follow this link to learn more about these plans.
GM stock was up 5% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.