Semiconductor shortage disrupts GM's car output

Tuesday, 09. February 2021 15:56

General Motors Co. announced on Tuesday that the global semiconductor shortage that has affected the entire car industry is also causing a delay in its production and extension of downtime at plants in three locations until mid-March.

"GM's plan is to leverage every available semiconductor to build and ship our most popular and in-demand products, including full-size trucks and SUVs and Corvettes for our customers. Our supply chain organization is working closely with our supply base to [...] mitigate impacts on GM," the company's official release said.

GM has joined a long line of automakers that are scaling back manufacturing due to chip and semiconductor shortages, including Volkswagen, Ford Motor, Subaru, Toyota Motor and Nissan Motor. After the news announcement, GM shares fell 0.88%, selling for $56.36 at 9:50 am ET.

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Breaking the News / LH