GM Closing Four North American Plants

General Motors Corp. is closing four North American truck and sport utility vehicle plants, in light of high fuel prices that are pushing consumers to smaller vehicles, the Associated Press reported Tuesday.

CEO Rick Wagoner said Tuesday just prior to GM’s annual meeting that the plants to be closed are in Oshawa, Ontario; Moraine, Ohio; Janesville, Wis.; and Toluca, Mexico. He also said the company’s Hummer brand may be discontinued, AP reported.

Wagoner said the move is in response to slumping sales of pickup trucks and SUVs brought on by high gasoline prices, and said a market shift to smaller vehicles seemed permanent, AP said.

The closures will save GM about $1 billion per year starting in 2010, and combined with previous cuts, GM will have reduce costs by $15 billion a year, AP reported, citing Wagoner.