Bigger is no longer better in the automotive industry, as evidenced by General Motors Corp.'s decision Tuesday to close four truck and sport utility vehicle plants in North America by 2010.
GM enters another round of restructuring as the company shifts to producing more small vehicles in the face of skyrocketing gas prices.
Chief Executive Officer Rick Wagoner also said GM's Hummer brand would be reviewed for a possible sale or restructuring, even as the board approved the production schedule of an electric car to get it into showrooms by the end of 2010.
"We at GM don't think this is a spike or temporary shift," Wagoner said. "We believe that it is, by and large, permanent."
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