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GM Announces Significant Production Cuts for Q1 2009

General Motors announced today a significant reduction of planned production for the first quarter of 2009 due to the ongoing and severe drop in industry sales, which were down 36% in November overall and 41% for GM (2007 vs. 2008). The impact of these and recently announced actions to adjust production with market demand, will result in the temporary idling of approximately 30% of GM's North American assembly plant volume during the first quarter of 2009 and will remove approximately 250,000 units from production.