General Motors Co. directed suppliers to stop preparations for mid-cycle updates of trucks, SUVs and sports cars as the automaker delays them until the 2021 calendar year because of the pandemic disruption, according to a note obtained by The Detroit News.
GM has delayed the planned mid-cycle refresh of the Chevrolet Silverado and other vehicles as it attempts to conserve cash during the downturn caused by COVID-19.
"The interruption this causes has rippled through not only the industry, but both supply and demand volumes," said Jeff Schuster, president of global vehicle forecasting at LMC Automotive. "It will absolutely impact product programs and future investments."
GM is urging its suppliers to stop work on tooling and parts manufacturing ahead of the planned mid-cycle refresh of the light-duty Chevrolet Silverado, its top-selling vehicle, and GMC Sierra trucks, according to the note to suppliers which was confirmed by GM. The direction also affects the GMC Terrain SUV as well as Chevrolet Equinox and Traverse SUVs, Bolt electric car and Camaro sports car. A future variant of the Chevrolet Corvette that was not slotted for 2020 also will be delayed.
"All our development teams around the globe are looking for opportunities to conserve resources by adjusting program timing and deferring spending," GM said in a statement.
Near-term programs, however, will see little to no impact, the company added. That includes its full-size SUVs and its electric-vehicle portfolio with the larger Bolt EUV, GMC Hummer truck, Cadillac Lyriq SUV, self-driving Cruise Origin shuttle and Ultium battery program.