Experts: GM aims to ward off a surplus of trucks
GM’s plan to idle its full-size pickup factory in Indiana next month suggests the automaker is trying to avoid returning to days of stockpiling vehicles on dealership lots, analysts say.
GM’s plan to idle its full-size pickup factory in Indiana next month suggests the automaker is trying to avoid returning to days of stockpiling vehicles on dealership lots, analysts say.
The Belvidere, Ill., Assembly Plant, where Jeep builds the Cherokee, has served as a lifeline for generations of workers since opening in 1965. Now its future is in limbo as the industry transitions to electric vehicles.
The quarterly loss reported Thursday caps a disastrous year in which Carvana’s stock plummeted 98 percent, erasing almost almost $37 billion of market capitalization. Shares plunged nearly 20 percent in morning trading.
The automaker says battery supplier SK On has made changes and has restarted cell production at its plant in Georgia.
It’s not clear if the collision with a Contra Costa County involved the company’s advanced driver assistance systems, but the case echoes others in which Tesla drivers using self-driving technology crashed into emergency vehicles.