This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ1M0IY_L.jpg
Shares of the U.S. automaker fell 1.3% in early trade.
After two years of U.S. automakers scrambling to keep pace with demand amid a parts crunch, GM’s decision to cut production of its highly-profitable pickup trucks signals a shift in the status quo.
Analysts have warned that rising interest rates and high vehicle prices could begin to depress demand, even as inventories of new vehicles have been rising over recent weeks.
“Our production is up over the past month while demand remains fairly consistent, leading to an increase in inventory,” GM said in a statement.
Last year, its truck plant was idled for two weeks over semiconductor chip shortages.
The Indiana facility builds full-size trucks, including Chevrolet Silverado and GMC Sierra pickups.
Newspaper The Detroit News had reported the halt on Wednesday.
