General Motors is dialing back on production as it currently has too many vehicles in inventory. The Detroit News reports that General Motors at the end of November had 874,000 vehicles sitting around - a number that hasn't been seen since the 2008 financial crisis. Compared to the same time last year, the number of vehicles has increased by 182,000 units. More worrying is that compared to October, the number of unsold vehicles rose by 40,000.
Despite strong sales, more consumers are going with crossovers, SUVs, and pickup trucks. GM even increased incentives on a number of models to help relieve this glut, all to no avail.
According to Autodata, this is amount of passenger vehicles GM had sitting,
- 110 day-supply of the Cadillac CT6
- 119 day-supply of the Cadillac ATS
- 121 day-supply of the Chevrolet Cruze
- 132 day-supply of the Cadillac CTS
- 168 day supply of the Buick LaCrosse
- 170 day-supply of the Chevrolet Corvette and Spark
- 177 day-supply of the Chevrolet Camaro
Because of this, General Motors is cutting back on production at some of their plants. As we reported last month , GM is cutting a shift at their Lansing Grand River plant in Michigan (home to Cadillac ATS, CTS, and Chevrolet Camaro) and a shift at Lordstown, Ohio plant (home to the Chevrolet Cruze). General Motors will also be shutting down five plants according to Reuters in January. The plants include,
- Detroit-Hamtramck (Three weeks)
- Fairfax, KS (Three weeks)
- Lansing Grand River (Two weeks)
- Lordstown, OH (One week)
- Bowling Green, KY (One week)