Financial Times FT.com

GM cautious on adding US plants

By John Reed in Geneva

Published: March 7 2007 19:34 | Last updated: March 7 2007 19:34

Rick Wagoner on Wednesday expressed caution about the possibility of General Motors adding new brands or US manufacturing plants to its portfolio in remarks likely to quash expectations of an imminent GM bid for cross-town rival Chrysler.

Mr Wagoner said GM was implementing its existing plan to reduce capacity in the US in line with its goal of reaching 100 per cent utilisation. “As far as adding capacity, it’s not something we’re thinking about,” he told the Financial Times.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this