GM Puts Brakes on SUV, Truck Redesigns: WSJ
General Motors is postponing redesigning its SUVs and full-sized trucks as it shifts its product portfolio toward more fuel-efficient vehicles, the Wall Street Journal reported in its online edition on Thursday.
GM spokesman Tom Wilkinson told the newspaper the car maker was "looking at the whole product portfolio," and deciding how to supply the U.S. market with more fuel-efficient cars.
GM will extend the life cycle of its current line-up of pickup trucks and SUVs, including the Cadillac Escalade SUV and the Chevrolet Silverado pickup.
New designs of GM trucks and SUVs had not been expected to be released until at least 2012, the newspaper said.
GM also has considered cancelling one future Hummer SUV product and shutting down another brand, the paper said, citing people briefed on its strategy.
Shares in automakers stumbled on Wednesday as investors reacted to a further slowdown in June auto sales and uncertainty about when the industry will bottom.
Consumers have pulled back on auto purchases -- especially larger SUVs and trucks -- as U.S. gasoline prices moved above $4 per gallon.