What GM dealerships are being closed?

1. Which GM plants are shutting down?
2. Is there a shortage of GM vehicles?
3. Why is there a shortage of GM cars?
4. Why did GM close dealerships?
5. Is GM shutting down 2021?
6. Is GM getting any chips?
7. Is now a good time to buy a truck 2021?
8. Will truck prices go down in 2022?
9. Has GM started production again?
10. Is GM still having chip shortage?
11. Why are there no Chevy trucks?
12. Who makes chips for GM cars?
13. How much is a GM franchise?
14. Does GM own dealerships?
15. How many dealerships does GM own?

Which GM plants are shutting down?

Four of GM's US-based plants will be affected: Fort Wayne, Indiana; Wentzville, Missouri; Spring Hill, Tennessee; and Lansing, Michigan. Four other factories in Mexico and Canada will also go dark for several weeks as GM works to shore up its supply of chips.

Is there a shortage of GM vehicles?

The shortage will cut GM's wholesale deliveries by about 200,000 vehicles in North America during the second half of the year compared with the 1.1 million it delivered in the first half of the year, CFO Paul Jacobson said during an RBC Capital Markets conference.

Why is there a shortage of GM cars?

DETROIT – General Motors is once again significantly cutting production at its North American plants due to the semiconductor chip shortage, signaling the global parts problem remains a serious issue for the automotive industry.

Why did GM close dealerships?

Most of the GM dealers selected are "hurting, losing money and in danger of going out of business anyway," Mr. LaNeve told reporters. "It's a move that people could argue should have been taken years ago." GM said the 1,100 dealerships to be cut represent 18% of its network but produced just 7% of its sales last year.

Is GM shutting down 2021?

For the first time in eight months, the global shortage of computer chips won't force General Motors to close any North American factories. Oct. 22, 2021, at 3:35 p.m.

Is GM getting any chips?

The automaker is working with seven chip supplier partners on new designs of chips that would be capable of handling more than the current chips and would be made in North America, GM President Mark Reuss said on Thursday at an investor conference. Most chips are currently made in Taiwan.

Is now a good time to buy a truck 2021?

It's about more than the chip shortage, with the problems extending to both new and used vehicles. It may be tempting to pick up a new truck this year, but now's not the time. If you're considering buying either a new or a used car as 2021 draws to a close, we respectfully suggest that you reconsider.

Will truck prices go down in 2022?

KPMG says a “20 to 30 percent plunge in used-vehicle prices” could happen before October of 2022. Data from Black Book shows a “softening trend” in wholesale prices as we reach the end of 2021, a potential indicator of prices declining in 2022.

Has GM started production again?

Barnas confirmed that GM will restart production at its Spring Hill Assembly plant in Tennessee, where GM builds the Cadillac XT5, Cadillac XT6 and GMC Acadia SUVs, and Ramos Assembly in Mexico, where GM builds the Chevrolet Blazer and Equinox SUVs, on Monday. Both have been down since July 19.

Is GM still having chip shortage?

The microchip shortage isn't over, but General Motors has made big strides in managing it. Beginning November 1, the company will have no plants idled by the chip shortage for the first time since mid-summer.

Why are there no Chevy trucks?

Chevy Silverado, GMC Sierra Production Will Halt Due to Chip Shortage. ... General Motors will halt most North American production of its 2021 Chevy Silverado and 2021 GMC Sierra full-size pickups next week. Plants in Michigan, Indiana, and Mexico will be temporarily idled.

Who makes chips for GM cars?

Reuss told an investor conference GM is working with seven chip suppliers on three new families of microcontrollers that will reduce the number of unique chips by 95% on future vehicles. The supplier partners include Qualcomm (QCOM. O), STM (STM.BN), TSMC (TGLL. UL), Renesas (6723.

How much is a GM franchise?

General Motors

The company has over 19,000 dealers throughout the world. However, a new franchise owner needs an initial investment of $350,000. The amount sounds intimidating but through a successful business with GM, dealers earn profits. Last year, U.S. and Canada dealers alone made $3,002,237.

Does GM own dealerships?

DETROIT – General Motors today announced that it has concluded the dealer arbitration process and that effective Nov. 1, it will have a network of about 4,500 U.S. dealerships to sell and service customers for Chevrolet, Buick, GMC and Cadillac vehicles.

How many dealerships does GM own?

GM sits slightly above average, with its 287 minority-owned dealers accounting for around 7% of the 4,100 dealerships it currently operates nationwide.