With gas prices soaring, sales of oversized vehicles have been in steep decline. As a result, yesterday GM announced that it is closing four truck and SUV plants, located in the U.S., Mexico, and Canada. CEO Rick Wagoner acknowledged poor sales and even stated that he sees a permanent shift to smaller vehicles coming in the years ahead. He also said the giant waste tanks, known as Hummers, could be on their way to extinction.

“At this point, we are considering all options for the Hummer brand… everything from a complete revamp of the product lineup to partial or complete sale of the brand,” Wagoner said in an MSNBC story.

GM also plans to unveil a new electric car. The Cheverolet Volt, which could get up to 150 miles a gallon, could hit show rooms by 2010.

Read more: <a href=”http://www.msnbc.msn.com/id/24947044″>Hummer Bummer</a>