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U.S. Commerce Secretary To Meet With General Motors Regarding Chip Shortage
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The Chevy Equinox and Chevy Malibu are taking the brunt of the impact of the global semiconductor shortage at General Motors, with the production output of both vehicles significantly reduced in recent months.
Chevrolet Equinox
According to data obtained by Automotive News, the Chevy Equinox and Chevy Malibu account for roughly half of the production that GM has lost out on due to the chip shortage so far.
A report published earlier this month indicated GM has missed the production of around 79,600 vehicles in North America over the chip shortage to date, including 17,000 examples of the Chevy Equinox crossover from the CAMI plant in Ingersoll, Ontario. It has also missed production of a combined 24,100 examples of the Chevy Malibu and Cadillac XT4 from the GM Fairfax Assembly plant in Kansas to date, along 12,700 vehicles in total from the Lansing Grand River Assembly plant, which builds the Chevy Camaro and Cadillac CT4 and CT5.
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Put in park: How a tiny chip wounded the US auto industry
Hundreds of Ford trucks fill a parking lot near I-96 between Southfield and Evergreen, in Detroit, Michigan on Monday, April 25, 2021. A global semiconductor shortage has forced car manufacturers to stockpile unfinished vehicles. (David Guralnick/The Detroit News/TNS)
$56.71
By comparison, shares of GM’s cross-town rival, Ford Motor Company, increased 2.4 percent, or $0.28, during the same timeframe.
GM Stock Factors
GM stock value increased this week after stable performance last week and minor losses and gains in weeks prior.
The recent activity follows a dramatic 10-percent gain in March, during which GM stock values crossed the $60-per-share mark, an all-time high for the “new GM,” as well as consistent growth in January that put GM stock value above the $50 per share mark.
The gains seen earlier in April were driven primarily by confirmation of an upcoming all-electric iteration of the popular Chevy Silverado pickup truck. GM stock value hit a record high of $63.44 per share following the announcement.
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General Motors To Restart Spring Hill Production One Week Ahead Of Schedule
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