General Motors (NYSE:GM) is extending a shutdown at its Orion Township, Mich., factory that builds the new Chevrolet Bolt as part of a broader effort to get control of rising inventories of unsold vehicles in the U.S.
GM sold 7,592 Bolts YTD through June 30 after introducing the electric car at the end of 2016.
GM's U.S. vehicle inventory hit a 10-year high last month at 105 days supply; inventory of Bolts rose to 111 days from 104 days between June 1 and July 1.
GM also is cutting production at other plants to work down what Automotive News calculates as a 126-day supply of passenger cars as of July 1; the Lordstown, Ohio, plant that makes the Chevrolet Cruze and a plant near Kansas City, Mo., that produces the Malibu sedan both have three additional weeks of downtime, and a plant in Oshawa, Ontario, will be idled for two extra weeks to reduce inventories of the Chevrolet Impala sedan.
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