It appears that GM is downsizing their truck and SUV market here.  They are closing 4 plants within North America which make trucks and SUVs.  The company is also laying off 8,350 workers in North America. 

Short term this will hurt many families, but long term it will mean less jobs in America and perhaps more overseas manufactoring.  GM is also planning on redesigning or stopping production of the Hummer.  A large, gas sucking SUV, I am guessing demand for Hummers has plummeted.

Also GM is planning on launching an electric car and a new compact car to compete with the Accord and Camry.  The company is hoping to gain buyers who want cheaper alternatives to foreign cars, but are similarly made.

I wonder are people really not buying trucks and SUVs?  How long until we stop seeing everyone motoring around in super-sized cars?  How long until we look like Asia and Europe where everyone drives cars the size of the smart cars?  I’ve never seen a Chevy Silverado or Yukon in Europe or Asia.  Even people with children drive typically small four door sedans like my corolla.  Those are considered family cars.

Are Americans moving towards that as well?  Could we really give up our large cars and trucks?  Or will people living in big cities be the only ones changing?  Will the lifestyle and mentality change everywhere?

These are more repercussions to high price of oil.  As of yesteday oil is $140/barrel!  It went up $10/barrel in 1 day!  Wow things are going crazy.