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General Motors Co. is extending production cuts at some of its North American factories due to a chip shortage that has roiled the global automotive industry, the U.S. carmaker said on Thursday.

The move’s impact has been baked into GM’s prior forecast that the shortage could shave up to US$2-billion off this year’s profit.

GM’s Lansing Grand River assembly plant in Michigan will extend its downtime through the week of April 26.

The plant makes the Chevrolet Camaro sports car and Cadillac CT4 and CT5 sedans. It has been out of action since March 15.

GM’s Spring Hill assembly plant in Tennessee will take downtime starting the week of April 12 for two weeks. The plant makes the Cadillac XT5 compact sport utility vehicle, and Cadillac XT6 and GMC Acadia mid-size SUVs.

The company said it has not taken downtime or reduced shifts at any of its more profitable full-size truck or full-size SUV plants due to the shortage.

The news was first reported by CNBC.

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Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 7:00pm EDT.

SymbolName% changeLast
GM-N
General Motors Company
+1.7%45.35

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