GM Cuts Truck Production Due To High Inventory
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…
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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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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
