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GM extends vehicle production cuts into mid-March due to global chip shortage

DETROIT — General Motors said on Tuesday it was extending production cuts at three North American plants until at least mid-March due to the global semiconductor chip shortage, while vehicles at two other factories would only be partially built. GM, whose shares dipped 1% after the announcement, did not disclose the impact volumes or say which supplier and vehicle parts were affected by the chip shortage. But it said it would focus on keeping production running at plants building its highest-profit vehicles, full-size pickup trucks and SUVs. GM said it intended to make up as much lost production as possible once the shortage chip eased. "Semiconductor supply remains an issue that is facing the entire industry. GM's plan is to leverage every available semiconductor to build and ship our most popular and in-demand products," GM spokesman David Barnas said. GM said it was extending downtime at its U.S. plant in Fairfax, Kansas, its Canadian factory in Ingersoll, Ontario, and its Mexican facility in San Luis Petosi until mid-March when it would reassess the situation, he said. In addition, GM would build but leave incomplete for final assembly vehicles at Wentzville, Missouri, and its Mexican plant at Ramos Arizpe. GM vehicles affected by the idled plants include the Chevrolet Malibu sedan, Cadillac XT4 SUV, Chevy Equinox, and GMC Terrain SUVs. Vehicles to be left incomplete for now included the Chevy Colorado, GMC Canyon pickups and Chevy Blazer SUV. This week, GM had said it was idling the three factories where it has now extended downtime and said it would halve production at a plant in South Korea. The chip shortage has affected many automakers, including Toyota, Volkswagen, Stellantis, Ford, Renault, Subaru, Nissan, Honda and Mazda. Asian chipmakers are rushing to boost production but say the supply gap will take many months to plug. German chipmaker Infineon said the shortage would get worse in the near term. The chip shortage is expected to cut global output in the first quarter by more than 670,000 vehicles and last into the third quarter, IHS Markit said. AutoForecast Solutions estimated total lost production this year could reach 1 million vehicles. Honda and Nissan said on Tuesday they would sell 250,000 fewer cars in total this financial year due.

Travis Kvapil tells Twitter his Sprint Cup car was stolen

There's a bizarre story coming out of Atlanta today, as NASCAR racer Travis Kvapil is reporting that his Sprint Cup Car was stolen from a lot at the Drury Inn in Morrow, GA. Kvapil announced the theft, which included the black pickup that was hauling the trailer and the #44 Chevrolet SS Sprint Cup Car – shown above, with driver JJ Yeley at the wheel – on Twitter. According to Kvapil, the car wasn't going to be ready for the Thursday test session at Atlanta Motor Speedway, although forecasts of snow forced the team to dispatch their main trailer and tools to the track ahead of the car, which left for Atlanta later yesterday. According to ESPN, police in Morrow have video of the "incident," which happened at 5:34 AM Friday, with police investigating it as as criminal in nature. "Sometimes what happens when thieves see trailers, they might just assume there's something in the trailer they can go off and sell," Sgt. Larry Oglesby, of the Morrow PD, told USA Today. "Sometimes when things like this occur, they will drop off the items in a parking lot somewhere – like a Walmart parking lot – once they realize what they have." "All we know is it was a silver jeep," team owner John Cohen told USA Today. "One guy got out and they pulled off together." Earlier, Cohen told ESPN that the theft will force the team out of this weekend's race at the Folds of Honor QuikTrip 500, at Atlanta Motor Speedway. Kvapil, meanwhile, has taken to Twitter to appeal to his followers to be on the lookout for the truck, trailer and race car. Here's hoping it turns up all together. Check out the driver's tweets, below. Wow. Anyone near Atlanta find my stolen Cup car let me know! Unreal - Travis Kvapil (@TravisKvapil) February 27, 2015 I bet when whoever has it, opens the trailer and is going to be like 'oh snap' - Travis Kvapil (@TravisKvapil) February 27, 2015 Ok, to clarify. @Teamxtreme44 transporter is @amsupdates. The guys stayed and worked on the car Thursday at the shop in NC. They drove.... - Travis Kvapil (@TravisKvapil) February 27, 2015 down last night in a Ford dually and enclosed trailer with racecar inside. That was stolen out of hotel parking lot this am in Morrow, GA - Travis Kvapil (@TravisKvapil) February 27, 2015 Black Ford dually, white enclosed tag behind trailer. New Jersey plates - Travis Kvapil (@TravisKvapil) February 27, 2015 Dang.... I'm wishing we had LoJack or something on it!

Detroit Three's lucrative pickup war intensifies as Ram makes big gains

DETROIT — The battle for profits from sales of large pickup trucks is intensifying among the Detroit Three automakers as sales of small cars in the United States shrivel. For decades Ford has had the single best-selling truck brand in its F-Series trucks. General Motors' Chevrolet brand was a solid No. 2, and Fiat Chrysler Automobiles' Ram was a distant third. Now, that hierarchy may be in flux. Sales figures for December and the fourth quarter released on Thursday show Ram tied with GM's Chevy for the No. 2 spot, as sales of the redesigned Ram pickup surged, fueled in part by demand for an optional 12-inch (30.48 cm) dashboard screen. Chevy not long ago held second place to Ford by a wide margin. GM executives said on Thursday they are bullish on their new GMC and Chevy trucks for 2019.Related: How the Detroit Three's pickups compare on paper 2019 Ram 1500 Laramie review 2019 Chevy Silverado 2.7L four-cylinder review 2019 Ford F-150 2.7L EcoBoost review "There's no doubt this segment (pickup trucks) is one of the epicenters of the auto wars," said Sandor Piszar, director of marketing for Chevrolet at GM. "It's been that way forever, and we wouldn't have it any other way." On Wall Street, investors give electric car leader Tesla a higher valuation than any of the Detroit automakers. But in the nation's heartland, big pickups remain far more popular and profitable than any electric car — and most other consumer vehicles of any kind. Large pickups generate at least $17,000 a vehicle in pretax profit for GM, the company has indicated in disclosures to investors. By contrast, many Detroit Three sedans are so unprofitable, their manufacturers have decided not to build them anymore. 'Hotly contested' Sustaining sales and pricing in the large-pickup segment will be critical in a year when most forecasters expect overall U.S. car and light truck sales to fall. Ford's U.S. sales chief, Mark LaNeve, on Thursday called the F Series "the backbone of our franchise" during a conference call, and added the "segment will continue to be strong, but hotly contested" in 2019. Automakers are banking on pickup truck sales to stay strong even if U.S. interest rates continue to rise. Rising interest rates translate into higher monthly car payments and are expected to deter some buyers in 2019. GM has said 27 percent of Chevrolet and GMC trucks — which can haul trailers by day and substitute for a luxury sedan by night — sell for more than $55,000.