GM also said Monday it will further cut SUV and truck production, and it will run a sale June 24-30 to help clear out high inventories of 2008 pickups, sport utility vehicles and larger cars. The sale includes zero percent financing for up to 72 months.

"We're really just trying to spark the market at the end of the quarter," LaNeve said.

GM shares fell 88 cents, or 6.4 percent, to close at $12.91 after plummeting to $12.75 earlier in the day. That was the lowest they'd fallen since February 1982, when they hit $12.70 per share, according to the University of Chicago's Center for Research in Security Prices.

LaNeve said zero-percent deals are usually successful, but it's unclear if they'll have any effect in such a weak market. U.S. auto sales were down 8 percent through May due to... // 13abc.com

The stock advanced 27 cents, or 2.1 percent, to $13.18 in volatile morning trading. Earlier in the session the stock fell to $12.63, its lowest price in decades.

The stock has shriveled 70 percent from a 52-week high of $43.20 in October.

Buckingham Research Group analyst Joseph C. Amaturo cut his price target on GM to $8 from $10. He said GM will continue to have liquidity issues and will likely have to raise capital.

"We now expect GM to burn through $9 billion in cash for both 2008 and 2009, with the majority of the cash burn occurring in North America given the expected production declines," he said.

Amaturo reiterated his "Underperform" rating on the stock. He predicted further pricing weakness given the high price of gas and ongoing... // Forbes

Jun 24, 2008 (Detroit Free Press - McClatchy-Tribune Information Services via COMTEX) -- GM | Quote | Chart | News | PowerRating -- Struggling to grasp the depths to which truck sales will fall this year, General Motors Corp. on Monday slashed its planned truck production by 170,000 vehicles -- almost double the size of cuts Ford Motor Co. announced Friday.

GM also plans to launch a weeklong zero-percent-for-six-years financing incentive on most of its vehicles, even as it boosts production of cars, crossovers and commercial vans.

"This tells me there's something very alarming in the June numbers and they're trying to get the nose up before the end of the month," said IRN Inc. analyst Erich Merkle.

He had been expecting GM to sell about 200,000 vehicles in June -- a drop of 35% to... // Trading Markets

DETROIT _ Struggling to grasp the depths to which truck sales will fall this year, General Motors Corp. on Monday slashed its planned truck production by 170,000 vehicles _ almost double the size of cuts Ford Motor Co. announced Friday.

GM also plans to launch a week-long zero-percent-for-six-years financing incentive on most of its vehicles, even as it boosts production of cars, crossovers and commercial vans.

"This tells me there's something very alarming in the June numbers and they're trying to get the nose up before the end of the month," said IRN Inc. analyst Erich Merkle.

He had been expecting GM to sell about 200,000 vehicles in June _ a drop of 35 percent to 40 percent from last year. With the new discounts, he added dryly: "Maybe then they'll only be down 30 percent."

GM... // RedOrbit

DETROIT _ General Motors Corp. will further reduce truck production in the second half of the year by 170,000 and increase production of cars, crossovers and vans by about 47,000, the company announced Monday afternoon.

The moves are the latest reaction to a U.S. automotive market in which the economy and $4-a-gallon gas are driving consumers to shift away from larger vehicles to smaller, more fuel efficient options.

In addition to its usual... // RedOrbit

DETROIT — General Motors Corp. told dealers Monday it plans to raise prices on 2009 models by an average of 3.5 percent despite a tough market that is forcing the automaker to cut production and discount its 2008 models.

Mark LaNeve, GM vice president of North American sales, said in conference calls to dealers that the increases will allow GM to recover only part of the rising cost of steel and other commodities, and the cost of safety and other features on new models. Increases will amount to about $1,000 per vehicle.

GM already had increased the prices of its 2008 model year vehicles twice because of rising commodity costs, spokesman John McDonald said.

GM also said Monday that it will further cut SUV and truck production, and will run a sale through June 30 to help clear... // Ventura County Star

Dealers learned of GM's plans on Monday during a taped telecast broadcast to the automaker's vast U.S. franchise network.

The interest-free loan deal runs through Monday and applies to most vehicles in GM's eight brands. Even trucks sold by GM's luxury marquees -- Hummer, Saab and Cadillac -- are eligible. Several cars also are included, such as the Saturn Aura, the Chevrolet Impala and HHR wagon and the Cadillac STS and DTS sedans.

LaNeve said only vehicles in short supply, such as the midsize Malibu, the compact... // DetNews.com

The automaker will increase the line speed at Lordstown.

DETROIT (AP) General Motors Corp. told dealers Monday it plans to raise prices on 2009 models by an average of 3.5 percent despite a tough market that is forcing the automaker to cut production and discount its 2008 models.

Company officials said in conference calls to dealers that the increases will allow GM to recover only part of the rising cost of steel and other commodities and the cost of safety and other features on the new models. The increases will amount to about $1,000 per vehicle.

GM already had increased the prices of its 2008 model year vehicles twice because of rising commodity costs, spokesman John McDonald said. The move comes a little more than a week after Chrysler LLC announced a 2 percent increase in the... // Youngstown Vindicator

FOXBusiness (Enlarge photo)

DETROIT -- General Motors Corp. told dealers Monday it plans to raise prices on 2009 models by an average of 3.5% despite a tough market that is forcing the automaker to cut production and discount its 2008 models.

Company officials said in conference calls to dealers that the increases will allow GM to recover only part of the rising cost of steel and other commodities and the cost of safety and other features on the new models. The increases will amount to about $1,000 per vehicle.

GM already had increased the prices of its 2008 model year vehicles twice because of rising commodity costs, spokesman John McDonald said. The move comes a little more than a week after Chrysler LLC announced a 2 percent increase in the price of its remaining 2008 vehicles.

GM also said Monday it will... // FOXBusiness

DETROIT (AP) - General Motors Corp. told car dealers Monday it plans to raise prices on 2009 models by an average of 3.5 percent despite a tough market that is forcing the automaker to cut production and discount its 2008 models.

Mark LaNeve, GM's vice president of North American sales, said in conference calls to dealers that the increases will allow GM to recover only part of the rising cost of steel and other commodities and the cost of safety and other features on the new models. The increases will amount to about $1,000 per vehicle.

GM already had increased the prices of its 2008 model year vehicles twice because of rising commodity costs, spokesman John McDonald said. The move comes a little more than a week after Chrysler LLC announced a 2 percent increase in the price of its... // PR-Inside.com (Pressemitteilung)

DETROIT (AP) General Motors Corp. told dealers Monday it plans to raise prices on 2009 models by an average of 3.5 percent despite a tough market that is forcing the automaker to cut production and discount its 2008 models.

Mark LaNeve, GM's vice president of North American sales, said in conference calls to dealers that the increases will allow GM to recover only part of the rising cost of steel and other commodities and the cost of safety and other features on the new models. The increases will amount to about $1,000 per vehicle.

GM already had increased the prices of its 2008 model year vehicles twice because of rising commodity costs, spokesman John McDonald said. The move comes a little more than a week after Chrysler LLC announced a 2 percent increase in the price of its... // The Associated Press

DETROIT (AP) General Motors Corp. told dealers Monday it plans to raise prices on 2009 models by an average of 3.5 percent despite a tough market that is forcing the automaker to cut production and discount its 2008 models.

Mark LaNeve, GM's vice president of North American sales, said in conference calls to dealers that the increases will allow GM to recover only part of the rising cost of steel and other commodities and the cost of safety and other features on the new models. The increases will amount to about $1,000 per vehicle.

GM already had increased the prices of its 2008 model year vehicles twice because of rising commodity costs, spokesman John McDonald said. The move comes a little more than a week after Chrysler LLC announced a 2 percent increase in the price of its... // The Associated Press

DETROIT (AP) -- General Motors Corp. told dealers Monday it plans to raise prices on 2009 models by an average of 3.5 percent despite a tough market that is forcing the automaker to cut production and discount its 2008 models.

Mark LaNeve, GM's vice president of North American sales, said in conference calls to dealers that the increases will allow GM to recover only part of the rising cost of steel and other commodities and the cost of safety and other features on the new models. The increases will amount to about $1,000 per vehicle.

GM already had increased the prices of its 2008 model year vehicles twice because of rising commodity costs, spokesman John McDonald said. The move comes a little more than a week after Chrysler LLC announced a 2 percent increase in the price of its... // The Columbian

Company officials said in conference calls to dealers that the increases will allow GM to recover only part of the rising cost of steel and other commodities and the cost of safety and other features on the new models. The increases will amount to about $1,000 per vehicle.

GM already had increased the prices of its 2008 model year vehicles twice because of rising commodity costs, spokesman John McDonald said. The move comes a little more than a week after Chrysler LLC announced a 2% increase in the price of its remaining 2008 vehicles.

GM also said Monday it will run a sale June 24-30 to help clear out high inventories of 2008 pickups, sport utility vehicles and larger cars. The sale includes zero percent financing for up to 72 months.

U.S. auto sales were down 8% through May due to... // TIME

DETROIT (AP) General Motors Corp. told dealers Monday it plans to raise prices on 2009 models by an average of 3.5 percent despite a tough market that is forcing the automaker to cut production and discount its 2008 models.

Company officials said in conference calls to dealers that the increases will allow GM to recover only part of the rising cost of steel and other commodities and the cost of safety and other features on the new models. The increases will amount to about $1,000 per vehicle.

GM already had increased the prices of its 2008 model year vehicles twice because of rising commodity costs, spokesman John McDonald said. The move comes a little more than a week after Chrysler LLC announced a 2 percent increase in the price of its remaining 2008 vehicles.

GM also said Monday... // The Associated Press

DETROIT (AP) General Motors Corp. told dealers Monday it plans to raise prices on 2009 models by an average of 3.5 percent despite a tough market that is forcing the automaker to cut production and discount its 2008 models.

Company officials said in conference calls to dealers that the increases will allow GM to recover only part of the rising cost of steel and other commodities and the cost of safety and other features on the new models. The increases will amount to about $1,000 per vehicle.

GM already had increased the prices of its 2008 model year vehicles twice because of rising commodity costs, spokesman John McDonald said. The move comes a little more than a week after Chrysler LLC announced a 2 percent increase in the price of its remaining 2008 vehicles.

GM also said Monday... // The Associated Press

General Motors Corp. says it will further cut production of trucks and sport utility vehicles from the summer through the end of the year.

Spokesman Chris Lee says GM will cut shifts, reduce assembly line speeds and temporarily idle seven factories because of declining consumer demand for the truck-based vehicles.

The Arlington plant, which makes the Cadillac Escalade and other large SUVs, customarily shuts down for two weeks during July. These cuts mean the plant will close for a total of seven weeks between now and the end of the year, said plant spokeswoman Wendi Sabo.

"It's mainly because of the rising fuel costs and the decrease in the sales of the full-size truck market," said Sabo.

The Arlington facility will close during the following weeks:

Sabo says the plant's union... // CBS 11

“Some of that is because they’re adding more content, but some of it is because commodities are going up and the dollar is weaker,” says a dealer who listened to the call, but declined to be named. “We all knew price increases were coming.”

Dealers say LaNeve said that GM would be adding a third shift at its plant in Lordstown, Ohio. GM builds the Pontiac G5 and Chevrolet Cobalt compacts at Lordstown. GM will go on maximum overtime at its plants in Orion Township, Michigan, and Kansas City, Kansas. GM builds the Pontiac G6 and the Chevrolet Malibu mid-sized cars at... // AutoWeek