A sign is viewed at the General Motors Detroit-Hamtramck Assembly as they announced the closing of multiple facilities including this one on November 26, 2018 in Detroit, Michigan. - In a massive restructuring, US auto giant General Motors announced Monday it would cut 15 percent of its workforce to save $6 billion and adapt to "changing market conditions."
The moves include shuttering seven plants worldwide as the company responds to changing customer preferences and focuses on popular trucks and SUVs and increasingly on electric models.GM will shutter three North American auto assembly plants next year: the Oshawa plan in Ontario, Canada; Hamtramck in Detroit, Michigan and Lordstown in Warren, Ohio.In addition, it will close propulsion plants -- which produce batteries and transmissions -- in Baltimore, Maryland and Warren, Michigan, as well two more unidentified plants outside of North America. (Photo by JEFF KOWALSKY / AFP)        (Photo credit should read JEFF KOWALSKY/AFP via Getty Images)
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GM Built 95,000 Vehicles It Can't Sell
GM revealed that, due to the ongoing semiconductor shortage, the number of unsellable vehicles currently in its inventory has reached nearly six figures. While the automaker is able to construct the chassis of its vehicles with all other necessary mechanical parts included, it's unable to fit them with their automated systems, making them undriveable.
Despite the roughly 95,000 vehicles that can't be sold, sales across all GM-owned brands are not expected to slow down any time soon. In its SEC filing report from July 1, 2022, the carmaker noted that these vehicles will be finished in the latter half of 2022, as semiconductors begin to flood back into the market.
The company also cited a 29% year-over-year increase to sales figures across commercial, government, and rental sectors, and claimed that the commercial demand for midsize pickup trucks saw an increase of 65%. As of June 30, 2022, the company reported 247,839 vehicles (or about 152,839 after you subtract the 95,000 unfinished vehicles) were stored in its inventory.