General Motors' North American assembly plants have overcome initial parts-supply challenges and will boost production next week.
Three U.S. factories building mid- and full-size pickups will operate on three shifts starting June 1, the automaker said in a statement Thursday. GM has been running just one shift at the facilities and was unable to increase output this week because supply of parts from Mexico was constrained.
GM said three other factories that build crossovers in the U.S. and Canada will move to two shifts, from one. Five of its assembly plants will still operate on one shift.
Chevrolet and GMC dealers have been running low on inventory of GM’s redesigned Silverado and Sierra models, which are among the most lucrative in the company’s lineup. Mike Jackson, the CEO of AutoNation Inc., said in a Bloomberg Television interview this month that the largest U.S. new-car retailer was eager to rebuild its stock of Silverado.
“If they can restart the pickup truck plants first, I’ll be standing here in line saying ‘send me all you can get,’” Jackson said.
It is? Asking seriously.....what I can see is that GM stock closed at 16.80 on March 18...and it at about $26.00 right now....That is up about 54%, not 95.12%??? Unless you are referring to intra-day...did GM get down to about $13 during the course of the day?
As far as your question...it is just the nature of the Market/selloff/recovery....not limited to GM. Other 'non stay at home' stocks have done similar. Ford is about over 50% since their lows in March...Tesla is up well over 100% since then.....Several brick-and-mortar retailers have similar very high returns.
I snagged a few GM shares on that day at $15.98. Wish I could have purchased more. Keep in mind they have shelved the dividend for awhile(as did Ford) but it will come back.
Have seen these Chebies on the road, They look really nice in person, Very imposing precense, and different, Now if only GM Torino can up the Power to 1500 lbs ft of torques
Good news, get the supply back to normal. These new truck do look good on the road now that the new styling is getting used to me so I'll agree with mbukukanyau on that.
Their love it or hate it styling jumped the shark, making it the most modern truck design on the road. In the right color and trim they look awesome, especially the HD's. Quite intimidating on the street.
Build them and they will come. Trucks pay the bills. Ergo, we must keep our domestic oil industry healthy. Five dollah gas would not zoom up truck sales.
But aren't there killer truck (and everything) deals now? Zero down, 84 month truck mortgage, zero percent, yes we can. :drive:
Build them and they will come. Trucks pay the bills. Ergo, we must keep our domestic oil industry healthy. Five dollah gas would not zoom up truck sales.
Fortunately for both General Motors and for American citizens, the U.S. domestic oil and gas industry (especially the segment involved with shale plays) has the potential not only to survive in the years to come, but thrive.
Mark P. Mills wrote an excellent article about this:
"When the Saudis last disciplined the oil market, the shale industry was only a half-dozen years old. After the dust settled, America’s shale-oil output came roaring back and actually grew more rapidly than it had previously. Why? After the carnage, the shale industry became far more productive: U.S. oil output per employee has doubled since 2015. That’s an amazing gain in any business. It’s also a direct measure of experience and technology at work.
As for the future, two relevant questions pertain: Just how much oil is still hidden in America’s shale fields? And is there any “juice” left in technology to unlock it at lower cost with the same, or less, labor? The answers: a lot, and yes. After all, we know exactly where the oil is located. No one “discovered” shale oil; instead, entrepreneurs invented a way to access it. And despite the astounding growth in production, today’s techniques can extract only 10 percent to 15 percent of the oil available in the shale rock. Technology remains the key to tapping more of that enormous resource. Since that technology is increasingly digital, not mechanical, the marginal costs of each new barrel will keep coming down."
Of course regular buyers are nowhere near as harsh on what the critics class as mistakes, yes they coulda done better but it will probably continue to sell well and do the job for GM.
No doubt that GM's full-size pickup trucks contributed heavily to GM's pole position at the manufacturer level, though at the model level, the full-size pickup truck with the highest owner loyalty was Ram 1500/2500/3500.
GM did well loading dealerships with the right product and trim mix pre-covid shutdown,
just stick to the plan and keep building to that correct inventory profile and cutomer orders.
The last thing GM needs to do is overthink this, older inventory will be down so push that
with some incentives while trading higher with less incentives on newer production until
production catches up to sales
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