GM to cut production due to chip shortage

General Motors will reduce production at most North American plants in September, the company said Thursday, as it continues to grapple with a global shortfall in semiconductor chips.

Production halts will start next week at a plant in Indiana and another in Mexico, which are responsible for building GM's profitable pickup trucks.

Other plants that produce money-making midsize trucks, full-size vans and SUVS will also see curtailed production or shut-down extensions.

All-in-all, eight assembly plants across North America will see less work this month.

The industry wide chip shortage has wreaked havoc on production, limiting the number of cars that go out and the amount of money that comes in.

And it's not just GM...

Ford announced Wednesday that it was further reducing U.S. truck output due to the shortage of chips.

Its Dearborn Truck Plant will go down to one shift from three starting next week, while its Kansas City Assembly Plant for the best-selling F-150 will temporarily go silent.

Some industry insiders expect the global chip shortage to drag on well into next year.

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