GM May Build Cadillac Plant in Michigan

General Motors Corp. said it may construct a factory in Lansing, Mich., to build Cadillacs, and the United Auto Workers union said it will help meet the plant’s profit targets. The world’s largest auto maker said it could break ground on the factory in the third quarter if it successfully negotiates a UAW contract for the plant, as well as state and local subsidies. Separately, GM boosted its target for second-quarter production by 1%, or 15,000 vehicles, to meet stronger-than-expected demand for its large pickup trucks. Shortages of its new Chevrolet Silverado and GMC Sierra pickups were the main reason for its March decline in sales, the auto maker said. GM shares gained $1.19 to close at $87.88 on the NYSE.(Bloomberg News)