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GM forced to cut truck production amid semiconductor shortage

WASHINGTON — General Motors said Wednesday it will cut some truck production in North America because of the ongoing global semiconductor shortage. The largest U.S. automaker said its Flint Assembly plant that builds the Chevrolet Silverado HD and GMC Sierra HD trucks will operate on one production shift the week of July 26. GM said its Ft. Wayne Assembly plant in Indiana that builds the Chevrolet Silverado 1500 and GMC Sierra 1500 model trucks will be idled next week. GM's Silao Assembly plant in Mexico that also builds the Chevrolet Silverado 1500, Cheyenne (for the Mexico market) and GMC Sierra 1500 will also suspend production next week. All three plants are expected to resume regular production the week of August 2. Related video:

GM recalls half-million full-size SUVs to address seatbelt issue

GM is recalling its redesigned full-size SUV models to address improperly riveted mounts securing the third-row seatbelts that may fail in the event of an accident. The population includes the 2021-2022 Cadillac Escalade and Escalade ESV, 2021-2022 Chevrolet Suburban and Tahoe, and 2021-2022 model year GMC Yukon and Yukon XL, for a total of 484,155 vehicles. "Operators at the supplier’s manufacturing plant may have not properly followed manufacturing processes and inadvertently missed the rivet forming operation," GM said in its defect report to NHTSA. "In certain of these vehicles, the rivet that retains the buckle to the mounting bracket in the left or right side third-row seatbelt buckle assembly may not have been properly formed during the manufacturing process. If the third-row seatbelt assembly is not properly riveted, it may not properly restrain occupants in a crash, increasing the risk of injury." Fortunately, the fix is relatively simple. GM service technicians will inspect the rivets on the rear seatbelt buckle assemblies and replace the entire unit if the rivets are not to spec. Dealer notifications have already been distributed; owners should receive notice start in September. Related video: Cadillac Chevrolet GM GMC Ownership Safety SUV

GM will stop reporting monthly U.S. vehicle sales

DETROIT — General Motors said on Tuesday it will stop reporting monthly U.S. vehicle sales, saying the 30-day snapshot does not accurately reflect the market, and will instead issue quarterly sales. GM will also no longer report monthly sales in China, its largest market, and Brazil. GM will provide monthly data to the U.S. Federal Reserve, industry associations and government agencies across the globe, but that data is not made public. Analysts and investors rely on monthly U.S. vehicle sales not just to track the performance of individual automakers, but as a barometer of the health of the world's second-largest auto market and as an indicator of consumer confidence in the U.S. economy overall. GM and its Detroit rivals Ford and Fiat Chrysler have relied heavily on sales of high-margin pickup truck and SUV sales to boost profits. GM's total U.S. sales, its second-largest market, are down 3.2 percent for the first two months of 2018, reflecting a 6.8 percent drop in retail sales to individual customers, the company reported last month. GM executives have expressed frustration that comparisons of monthly U.S. sales results among rival automakers are distorted by short-term discount programs, and by differences in strategy for selling vehicles in bulk to rental car fleets. "Thirty days is not enough time to separate real sales trends from short-term fluctuations in a very dynamic, highly competitive market," Kurt McNeil, U.S. vice president for sales operations said in a statement. GM's actions could prompt other automakers to also switch to quarterly U.S. sales reports. Major automakers will report March U.S. new vehicle sales on Tuesday. Until the early 1990s, most U.S. automakers released sales results every 10 days. The former Chrysler Corp. stopped reporting sales on a 10-day basis in 1990, and rivals followed suit over the next three years. GM executives are betting that investors will quickly adapt to receiving U.S. sales data every three months, as investors in other retail sectors already have. Retailers such as Walmart report sales on a quarterly basis. Reporting by Joe WhiteRelated Video: Image Credit: Reuters Earnings/Financials Green Buick Cadillac Chevrolet GM GMC US