General Motors’ CAMI Assembly plant in Ingersoll, Ontario will remain closed until mid-August.
The CAMI Assembly plant was set to come back online next week following a scheduled two-week summer shutdown, however the automaker has now confirmed that it will extend the downtime until August 16th. The announcement comes as GM implements downtime at several of its other North American plants due to the ongoing semiconductor shortage, including the San Luis Potosi and Ramos Arizpe plants in Mexico and Lansing Delta Township and Spring Hill plants in the U.S.
CAMI Assembly was closed from February 8th through to June 14th, reopening for a brief period until it once again closed for a usual two-week summer shut down on July 2nd. The plant currently builds the Chevy Equinox compact crossover, but will eventually be re-tooled to produce the BrightDrop EV600 electric utility van starting late next year. GM has hired a third-party contractor to build the EV600 vans in the meantime while it prepares the CAMI facility to produce them.
GM is prioritizing its full-size trucks and SUVs amid the semiconductor shortage, which represent its most popular and profitable products. The automaker’s full-size truck plants in Flint, Michigan, Fort Wayne, Indiana and Silao, Mexico are all running regular production hours, the automaker confirmed to The Detroit Free Press this week, as is the Arlington Assembly plant in Texas that builds its full-size SUV models.
GM continues to leverage every available semiconductor to build and ship our most popular and in-demand products, including full-size trucks and SUVs for our customers,” the automaker said in a statement previously. “We continue to work closely with our supply base to find solutions for our suppliers’ semiconductor requirements and to mitigate impacts on GM.”
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Comments
The reason CEO’s are paid so much in theory is to plan for these types of events and to mitigate or remove that threat. It appears GM was found totally flat footed. I’ll have to give an F to the executive management team. They left GM totally exposed.
Haha! GM totally flat footed? Ok, gotcha… but yet the stock is trading higher than any time in history prior to 2021, and profits are the highest they have been in recent history. The supply chain issues have hit every manufacture on the planet in one way or another, and not just cars. Your comment is that of an uninformed troll..
The stock price means nothing these days.
Especially with the amount of dumb investors around.
Meanwhile the smart Japanese automakers are churning out vehicles nicely and did I hear Toyota is now the #1 selling automaker in America? Yes I did.
Yes, Toyota took the top USA spot for 1 quarter, by 200 cars… Toyota has managed through the crisis well, perhaps because they own most of their supply chain? GM has stopped trying to chase volume, they want to make profitable cars, others can build volume in the lower segments if they so choose.
How is Toyota doing on EV’s
How is Toyota doing in Autonomy?
As for Dumb investors, sorry you missed the opportunity, but it’s never too late to get in. Oh, you don’t have any money, I get it…
Can’t make *profitable cars* if you aren’t making cars and selling them in the first place.
More corporate America stupidity.
And if you seriously doubt there are dumb investors then I have 1 word for you: Cryptocurrency.
Speaking of which how much is Bitcoin worth now?
and yet Gm has has some of the most profitable quarters in their history the last 12 months,
GM right now is trading at 9X trailing earnings, that is not exactly what I would call speculative investing. Ford trading at 14X earnings and Toyota at 12X , Tesla at 649X which one has the most risk?
Bitcoin is trading around $30K, and when I bought the 1 I have it was $350 in 2016, seems like it was an OK investment, almost 100X in 5 years, works for me. I know what you mean though, Bitcoin is complete speculation.
The reason GM is profitable because everyone is asking window sticker prices. That will fall once the industry lines out. GM also has their hands in everything auto and the selling of cars itself is getting less and less their priority and technology is more of what they want.