Detroit Free Press
In late January, retired General Motors employee Joseph Jones bought a 2021 GMC Sierra full-size pickup after having driven his 2004 Sierra for 17 years.
Jones, 68, tracked the production of the new light-duty pickup in cherry red from his home in Franklin, Tennessee. He saw that it was built on Feb. 15 at GM s Silao Assembly Plant in Mexico, so he eagerly awaited its arrival any day.
But as of May 5, Jones pickup remained in Mexico, parked alongside thousands of other GM pickups built shy of the final parts needed to complete them because of a global semiconductor chip shortage. I am getting more aggravated by the day, Jones said. The customers are stuck in the middle and I would love better communication through General Motors. I know everybody has been in the same situation, Ford, GM, Chrysler, Nissan . everybody has been held hostage by the shortage of this chip.”
$57.65
By comparison, shares of GM’s cross-town rival, Ford Motor Company, fell 5.5 percent, or $0.68, during the same timeframe.
GM Stock Factors
GM stock value was stable this week after several weeks of minor losses and gains. The recent activity follows a dramatic 10-percent gain last month, during which GM stock values crossed the $60-per-share mark on March 17
th, 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.
GM Wentzville Assembly plant cuts back shifts amid chip shortage ksdk.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ksdk.com Daily Mail and Mail on Sunday newspapers.
$59.29
By comparison, shares of GM’s cross-town rival, Ford Motor Company, decreased $0.28 per share, or 2.2 percent, during the same timeframe.
GM Stock Factors
GM stock value decreased 2.41 percent this week, following a 4-percent gain last week and 2.26-percent gain the week prior. The small gains and losses follow a dramatic 10-percent gain last month, during which GM stock values crossed the $60-per-share mark on March 17
th, 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 recent gains seen last week 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.