Big U.S auto makers plan cuts for slowdown report
NEW YORK (Reuters) - The big three U.S. auto makers are preparing cost cuts and other belt-tightening measures in case a slumping U.S. economy hurts sales more than expected, the Wall Street Journal reported on Thursday.
The Journal said General Motors Corp (GM.N: Quote, Profile, Research) has pushed some capital expenses from the first quarter to later in the year to make sure it has enough cash if the downturn in the U.S. market worsens, citing the company’s chief financial officer.
It reported Ford Motor Co (F.N: Quote, Profile, Research) executives said the company is considering options to cut costs further to reach its goal of being profitable by 2009.
Chrysler CBS.UL said it completed previously planned moves that will lower production at several plants in anticipation of weak sales this year, according to the paper, citing Chief Executive Bob Nardelli.
(Reporting by Yinka Adegoke; Editing by Erica Billingham)
Tags: Auto, auto maker, auto makers, Chrysler, downturn, economy, Ford, ford motor, ford motor co, general motors corp, gm, reuters, s sales, wall street journal
