GM and Ford slows car manufacturing in Europe

GM and Ford slows car manufacturing in Europe

Both GM and Ford have announced that they are now slowing down production of cars in their European plants.

They are cutting their output as the sales are down and the economic conditions are worsening.

GM has already shut down their Opel factory at Bochum. It would remain down till October 13.

The company added that production at their plant in Eisenach would be stopped from October 13 for a period of three weeks.

A GM representative added: “The financial crisis has prompted people to hold on to their money and spend less for cars.”

Ford too is taking similar steps to make sure they do not end up with surplus stock.