General Motors announced plans to slash second quarter production by 34% as it reported a whopping 53% drop in year-on-year U.S. sales for February. GM said it would cut second quarter production to 550,000 vehicles from 834,000 vehicles in the second quarter of 2008. Truck production will fall to 355,000 units from 452,000 in 2008 while car production will be cut to 195,000 units from 382,000 vehicles in 2008. GM estimated that total retail sales for the month were down 45% compared with Febr