As announced in May, GM will return full-size pickup production to Oshawa Assembly in Canada during the fourth quarter of 2021. The new accelerated timeline and incremental volume are expected to make an impact in 2022, as production ramps up.
As a result of GM’s ongoing efforts to prioritize semiconductor usage, its success engineering solutions that maximize the utilization of chips as well as the pull-ahead of some projected semiconductor deliveries into the second quarter, the company now expects its first-half financial results to be significantly better than the first-half guidance previously provided. GM is optimistic about the full year and expects to share additional information during its second-quarter earnings conference call on Aug. 4. GM Chair and CEO Mary Barra and Chief Financial Officer Paul Jacobson will also participate in a Virtual Fireside Chat with Credit Suisse today, beginning at 1 p.m. EDT.
“The global semiconductor shortage remains complex and very fluid, but the speed, agility and commitment of our team, including our dealers, has helped us find creative ways to satisfy customers,” said Phil Kienle, GM vice president, North America Manufacturing and Labor Relations. “Customer demand continues to be very strong, and GM’s engineering, supply chain and manufacturing teams have done a remarkable job maximizing production of high-demand and capacity-constrained vehicles.”
Production at certain manufacturing facilities in North America, Asia and South America will continue to be impacted by the global semiconductor shortage through June and July. As global semiconductor supply recovers, the company expects to implement similar actions in markets around the world to resume production and increase deliveries to dealers through the second half of the year. GM continues to work with its suppliers and policy leaders to develop long-term solutions to the semiconductor supply issues that have impacted all automakers.
SOURCE: General Motors