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    FRANK LEO & ASSOCIATES

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    GM Extending Factory Closures Amid Chip Shortage

    Automakers around the world have been shutting down factories due to a semiconductor shortage. General Motors Co. is among the most recent to reduce production at most of their North American assembly plants. The company says it’s due to the ongoing semiconductor chip shortage, which is hitting its profitable truck and sport utility vehicle.

    GM is the largest U.S. automaker and next week its Fort Wayne plant in Indiana and its Silao plant in Mexico will halt production. Both of these plants build pickup trucks and there will be 6 other plants halting production by September. This chip shortage is affecting many other automakers as well.

    Ford Motor Co. said earlier this week, it will cut truck production by next week because of the chip shortage. Even Toyota Motor Corp. announced last month that they will cut production by 40 per cent by September. GM will be halting production at Wentzville, Mo. plant and San Luis Potosi assembly plant in Mexico as well.

    For more information about the source click HERE