May 20, 2008: 5:54 PM EDT DETROIT (AP) -- Ford Motor Co. said Tuesday it will further cut production of its pickups and large sport utility vehicles, which have seen sales plummet due to high gas prices and the slump in housing construction.
Chrysler LLC wouldn't comment on whether it is producing a similar small truck for its Dodge lineup. General Motors Corp. (GM, Fortune 500) spokesman Terry Rhadigan also wouldn't say whether GM has a similar program, but he did point out that the automaker will be releasing fuel-saving hybrid versions of its GMC Sierra and Chevrolet Silverado pickups by the end of this year. Ford (F, Fortune 500) shares fell 2 cents to $8 Tuesday.
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