Ryan Bird Reports on GM Cuts

With gasoline prices soaring, and the housing and credit markets in the US collapsing, people are downsizing their vehicles. With that in mind, General Motors is about to follow Ford's recent move to slash production of trucks and SUVs. GM's chairman is expected to announce that GM will close four factories next year: the Oshawa pickup truck plant, and plants in Wisconsin, Ohio and Mexico.

Listen to Ryan Bird's report

The Oshawa closure would affect one thousand jobs.  

It's not clear if the expected shutdowns are temporary on expectation the housing market will recover and rejuvenate pickup truck sales.

Reports by CFRB's Ryan Bird