" GM, Ford and Chrysler are all losing money and cutting production. GM
planned to build 13 percent fewer vehicles in North America during the
fourth quarter, Ford forecast a 22 percent cut and Chrysler trimmed
second-half output by as much as 17 percent.
Ford said yesterday it is quitting the minivan segment and will end
production of its Freestar after sales fell 32 percent through
November. Instead, Ford will promote its so-called crossover vehicles,
such as the Ford Edge and Lincoln MKX.
The automaker also said today that it's offering lease incentives of as
low as $208 a month on its 2007 Fusion and Milan sedans and F-150
pickups through Feb. 28. The incentives replace Ford's offers of $1,000
cash bonuses on some models, as well as other rebates and low-interest
GM persuaded 34,000 workers to take buyouts in 2006 and sold a majority
of its finance unit after reporting about $13.7 billion in losses over
the past eight quarters. Ford, which lost almost $7 billion in last
year's first nine months, is buying out 38,000 union employees. "