General Motors will reduce its annual costs to develop new midsize cars by $1 billion through sharing parts, designs and factories, according to financial publication Bloomberg. Plants in North America, Europe and elsewhere will use the same chassis on models such as the Chevrolet Malibu sedan and Saab convertibles, Jim Wiemels, who oversees GM’s global production, said during a conference yesterday in Dearborn, Michigan. The change will reduce spending on new midsize cars by a third, or $1 billion a year, GM spokesman Dave Roman said.
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