The Fort Wayne Assembly truck plant will stop production on March 27.
GM stated that supply-chain restraints have been easing, allowing the company to produce more pickup trucks. But the supply was not meeting the demand, as demand for new pickup trucks has remained “fairly consistent.”
Once announced, GM shares dropped 3% that day. According to Reuters analysts, “rising interest rates and high vehicle prices could begin to depress demand, even as inventories of new vehicles have been rising over recent weeks.”
"It is disappointing to see given the overall industry doesn't have enough inventory ... it does raise concerns that demand is slowing either due to inflation or another macro headwind," Morningstar analyst David Whiston in a Reuters story.