GM (GM) has cut production at six US plants due to high inventory of pick-ups and SUVs. Sales of the GMC Sierra fell 28% last month. The Wall Street Journal wrote that GM "had 114 days’ supply of its Chevrolet Silverado pickup truck, and 120 days’ worth of the GMC Sierra."
The mortgage market and high fuel prices are likely to eat into GM’s truck business further and, although the company has not firmly indicated it will miss annual sales goals, that is becoming more and more likely.
Douglas A. McIntyre
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