$52.63
By comparison, shares of GM’s cross-town rival, Ford Motor Company, increased 1.54 percent, or $0.21, during the same timeframe.
GM Stock Factors
GM stock value fell slightly this week after a 6-percent drop last week and stable performance the week prior.
Some of the factors affecting GM stock value this week include the announcement of a second recall for the Chevy Bolt EV over a potential fire risk, affecting some 50,000 units. GM previously issued a recall in November of 2020 for 69,000 Chevy Bolt EV models, while issuing an initial fix for the issue in April.
In GM production news, the automaker will be forced to idle North American pickup production through the remainder of July, while downtime at the GM CAMI plant in Canada has been extended to August 16
U S Likely to Miss Out on New Chevrolet Montana Truck
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GM Stock Value Stable During Week Of July 6
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$58.43
By comparison, shares of GM’s cross-town rival, Ford Motor Company, decreased 1.71 percent, or $0.26, during the same timeframe.
GM Stock Factors
GM stock value fell this week after minor gains last week.
Some of the factors affecting GM stock value this week include second-quarter sales reporting, headlined by a 40-percent jump for GM sales in the U.S., with sales increasing for all four of GM’s U.S. brands.
GM-backed automotive data startup Wejo also announced $25 million in fresh investments from Microsoft and Sompo Holdings Inc.
Meanwhile, GM announced an accelerated timeline for conversion of the GM CAMI Assembly plant in Ingersoll as the all-electric BrightDrop EV600 light commercial vehicle heads towards production. In other production-related news, the Chevy Malibu and Cadillac XT4 will resume production at the GM Fairfax Assembly facility on August 16
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In early March, General Motors halted production at the Gravataí plant in Brazil due to a shortage of electronic components necessary for the locally built Chevy Onix which, in addition to being the most popular car in the South American country, is the only vehicle manufactured in that facility. Although the restart of activities was scheduled for next month at the latest, now the Gravataí plant will remain closed until mid-August.
The automaker just announced that the Gravataí plant will resume production on August 16
th, as the supply problems are preventing the company from complying with the previous schedule. This will mark an unprecedented production interruption of at least five and a half months for the Chevy Onix in Brazil, the longest assembly plant shutdown so far caused by the shortage of semiconductors.