General Motors extends summer shutdown as cars increasingly sidelined for SUVs by consumers

Shares in giant US car maker General Motors (NYSE:GM) cruised 0.67% lower in New York as it revealed falling sales had prompted it to extend summer factory shutdowns.

Reportedly, the group’s Lordstown, Ohio, plant near Cleveland and the Fairfax plant in Kansas will close for as many as five weeks in June and July.

The firm usually runs a two week annual shutdown in summer.

The Ohio plant makes the Chevrolet Cruze sedan, while the Kansas factory churns out the Chevrolet Malibu.

Car manufacturers are facing a shrinking US market that is dramatically shifting away from cars towards larger models and SUVs of all sizes.

In May, US car sales were down 11% while truck and SUV sales rose nearly 5%, according to official data.

General Motors shares stand at $34.28 a pop – down 0.67% –  at the time of writing.

Story by ProactiveInvestors