Monday, July 4, 2022
  • Home
  • Business News
    • Politics News
  • World Report
  • Education News
    • Health News
  • Personal Finance
Breaking News and Local News
  • Home
  • Politics News
  • Business News
  • World Report
  • Personal Finance
  • Health News
  • Education News
  • Login
No Result
View All Result
Breaking News and Local News
Home Business News

Chip Shortage Forces More Production Cuts by GM, Ford

OnedNews by OnedNews
December 26, 2020
in Business News
0
Chip Shortage Forces More Production Cuts by GM, Ford
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

Related posts

EU Approves $4.7 Billion in State Support to Service Air France

EU Approves $4.7 Billion in State Support to Service Air France

April 15, 2022
Supreme Courtroom Dismisses Case Over Trump and Twitter Critics

Supreme Courtroom Dismisses Case Over Trump and Twitter Critics

April 12, 2022

DETROIT (AP) — The global shortage of semiconductors has forced General Motors and Ford to further cut production at their North American factories as chip supplies seem to be growing tighter.
The shutdowns likely will crimp dealer inventory of vehicles made at the plants.
GM says it has managed to keep humming factories that make hot-selling and very profitable full-size pickup trucks and SUVs.
“GM continues to leverage every available semiconductor to build and ship our most popular and in-demand products,” the company said Thursday in a statement.
The chip shortage has already been rippling through various markets since last summer.
It has made it difficult for schools to buy enough laptops for students forced to learn from home, delayed the release of popular products such as the iPhone 12 and created mad scrambles to find the latest video game consoles, such as the PlayStation 5.
But things have been getting even worse in recent weeks, particularly in the auto industry, where factories are shutting down because there aren’t enough chips to finish building vehicles that are starting to look like computers on wheels.
The problem was recently compounded by a grounded container ship that blocked the Suez Canal for nearly a week, choking off chips headed from Asia to Europe.
These snags are likely to frustrate consumers who can’t find the vehicle they want and sometimes find themselves settling for a lower-end models without as many fancy electronic features.
And it threatens to leave a big dent in the auto industry, which by some estimates stands to lose $60 billion in sales during the first half of his year.
GM said that the cuts will take place at its Spring Hill, Tennessee; Ramos Arizpe, Mexico; Ingersoll, Ontario; Fairfax, Kansas; Lansing, Michigan, Delta Township; and Lansing, Michigan, Grand River factories.
Spring Hill, which makes the Cadillac XT5, XT6 and GMC Acadia SUVs, will shut down the weeks of April 12 and 19.
Production of the Chevrolet Blazer at Ramos Arizpe will stop for a week on April 19, while the Lansing Grand River plant, which makes the Chevrolet Camaro and Cadillac CT4 and CT5 sedans, will stay shut down through the week of April 26.
The Lansing Delta Township plant will be down for a week starting April 19, cutting production of the Chevy Traverse and Buick Enclave SUVs, while the Ontario and Kansas plants will be shut down through the week of May 10.
Both have been idle since the week of Feb.
8.
The Ontario plant makes the Chevrolet Equinox SUV, while the Kansas plant manufactures the Chevy Malibu sedan and Cadillac XT4 SUV.
Also Thursday, Ford said it would shut down its Chicago, Flat Rock, Michigan, and the Transit van side of the Kansas City Assembly Plant in Claycomo, Missouri, during the week of April 12.
But seven U.
S.
plants will run through the two traditional summer shutdown weeks in late June and early July.
The Chicago plant makes the Ford Explorer and Lincoln Aviator SUVs, while Flat Rock makes the Mustang sports car.
GM expects the chip shortage to cost it up to $2 billion in pretax profits this year from lost production and sales.
Ford is bracing for a similar blow.
In addition to GM and Ford, Nissan, Stellantis, Volkswagen and Honda seem to have been hit the hardest.
IHS Markit estimates that from January through March, the chip shortage reduced North American auto production by about 100,000 vehicles.
In January of last year, before the pandemic, the U.
S.
auto industry had enough vehicles to supply 77 days of demand.
By February of 2021 it was down almost 30% to 55 days.
Edmunds.
com says discounts are down and prices for new and used vehicles are up.
Copyright 2021 The Associated Press.
All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Tags: Associated PressBest StocksbusinessBusiness NewsCollections: BusinessCollections: Top NewsFinancial AdvisorsIllinoisIllinois NewsInvesting 101KansasKansas NewsMichiganMichigan NewsMissouriMissouri NewsStock Market NewstechnologyTennesseeTennessee News
Previous Post

Commentary: The Risks of Daylight Saving Time

Next Post

Medical doctors Debate Use of Blood Thinner to Stop Clots in Ladies After C-Sections

Next Post
Medical doctors Debate Use of Blood Thinner to Stop Clots in Ladies After C-Sections

Medical doctors Debate Use of Blood Thinner to Stop Clots in Ladies After C-Sections

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

BROWSE BY CATEGORIES

  • Business News
  • Education News
  • Health News
  • Personal Finance
  • Politics News
  • World Report

BROWSE BY TOPICS

Alexa Lardieri Associated Press Best States Best Stocks Biden business Business News China Collections: Business Collections: Top News Collections: US coronavirus Donald economy education Education Lab elections Financial Advisors foreign policy health Healthiest Communities Healthiest Communities Health News Health News infectious diseases Investing 101 Joe Lisa Hagen lung disease National News News Paul D. Shinkman personal finance picks Politics public health Russia Stock Market News Susan Milligan Trump United States vaccines Washington Whispers world world news World Report

Archives

  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020

Categories

  • Business News
  • Education News
  • Health News
  • Personal Finance
  • Politics News
  • World Report

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
Breaking News and Local News

OnedNews.com is the driving force behind decisions that largely define the quality of our readers’ and users’ lives.

Follow us on social media:

Recent News

  • Scott Burns: Grocery procuring throughout a pandemic is a studying expertise
  • Motley Idiot: Enjoying protection in a pandemic and this week’s trivia
  • Substitute educating is a ‘robust’ job and Texas can’t discover sufficient of them through the pandemic

Category

  • Business News
  • Education News
  • Health News
  • Personal Finance
  • Politics News
  • World Report
  • Trending
  • Comments
  • Latest
Neera Tanden Withdraws Her Nomination for OMB Director

Neera Tanden Withdraws Her Nomination for OMB Director

August 17, 2021
Biden to Faucet Former Sen. Invoice Nelson to Lead NASA

Biden to Faucet Former Sen. Invoice Nelson to Lead NASA

April 11, 2021
Navalny Sentenced to three 1/2 Years in Penal Colony as Anti-Putin Protests Escalate

Navalny Sentenced to three 1/2 Years in Penal Colony as Anti-Putin Protests Escalate

0
Olympic Committee, Japan Deny Experiences Summer time Video games Are Canceled

Olympic Committee, Japan Deny Experiences Summer time Video games Are Canceled

0
Scott Burns: Grocery procuring throughout a pandemic is a studying expertise

Scott Burns: Grocery procuring throughout a pandemic is a studying expertise

June 13, 2022
Motley Idiot: Enjoying protection in a pandemic and this week’s trivia

Motley Idiot: Enjoying protection in a pandemic and this week’s trivia

June 12, 2022
  • About
  • Advertise
  • Privacy Policy
  • Contact Us

Copyright @ 2021 OnedNews.com. All rights reserved.

No Result
View All Result
  • Home
  • Business News
    • Politics News
  • World Report
  • Education News
    • Health News
  • Personal Finance

Copyright @ 2021 OnedNews.com. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In