General Motors (GM) plans to announce as early as Monday significant cuts in car production in North America and that it will stop building some low-selling car models, says a source briefed on the matter. GM planned to announce a broader restructuring of its efforts as it shifted its focus more towards electrified and autonomous vehicles, the source said. GM declined to comment ahead of an expected announcement at mid-morning. Cost pressures on GM and other carakers and suppliers have risen with demand for traditional sedans waning . The group has said tariffs on imported steel, imposed earlier this year by the Trump administration, cost it $1bn. The decision comes as the largest US carmaker is poised to idle an assembly plant in Canada. A Canadian union, Unifor, representing most unionised carworkers in Canada, said on Sunday it had been informed by GM that there would be no product allocated to the plant in Oshawa after December 2019. GM employs about 2,500 union staff in Oshawa,...
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