GM During COVID-19
The coronavirus pandemic initially forced GENERAL MOTORS to idle production throughout North America, South America and China and taiwan. As a result, revenue fell dramatically and GM began to quickly burn through cash. Nevertheless , GM has since started again production in China, whilst GM North American production started again Might 18 th .
GENERAL MOTORS has taken major steps to cope with the COVID-19 pandemic, beefing up its balance sheet simply by reducing and/or deferring expenditures, while also shoring upward cash and other forms of liquidity. GM has since repaid over half of the particular $16 billion borrowed to obtain through the pandemic.
The General also had to deal with a small number of coronavirus cases a few of its facilities, but no main outbreaks have already been officially reported so far. The particular automaker announced a vaccination submission plan keep away from. More recently, GM indicated that will workers in Texas will certainly keep wear masks after the state lifts the current mask mandate. GENERAL MOTORS also recently opened a brand new worker vaccination site at its Factory Zero shrub in The state of michigan, and it announced a reshuffling of its workforce as it preps in order to re-open its offices come early july .
However , refreshes for several GENERAL MOTORS vehicles have been delayed , including the Cadillac XT4 , Chevrolet Navigate , Chevrolet Equinox , GMC Surfaces , and Chevrolet Bolt ELECTRONIC VEHICLES . In fact , the overall release cadence for several GM items has been pushed back, such as the start of the Cadillac CT4-V Blackwing and CT5-V Blackwing versions , as well as the Corvette C8 Z06 .
Nevertheless, several good things happened pertaining to GM in 2020, which includes business gains plus creation increases for your Silverado and the Sierra with the end of 2020, in addition to strong Chevrolet Blazer sales and Chevrolet Trailblazer product sales . Notably, GMC Sierra supply is extremely low as the automaker can’t develop enough units to meet solid demand. GM’s redesigned significant SUVs are now in share on dealer lots, such as the 2021 Chevrolet Tahoe and 2021 Suburban , and also the 2021 GMC Yukon and 2021 Yukon XL . Notably, the diesel-powered Tahoe and Suburban are now available in order to order ; the same holds true for the GMC Yukon diesel .