Financial Times FT.com

On the slide: the crash in car sales will drive headcount at the once-busy GM plant in Ohio down by more than half from last year

Last summer the General Motors plant in Lordstown, north-east Ohio, was working three shifts, six days a week building the Chevrolet Cobalt and Pontiac G5, small cars it could barely produce fast enough with petrol at more than $4 a gallon.

Rick Wagoner, GM’s chief executive, visiting the plant in August, announced a $50m (€39m, £34m) investment in the Chevrolet Cruze, a fuel-efficient car due to be built from 2010 at the plant. Employees affixed a huge banner to the side of the factory declaring: “The Cruze is coming!”