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Supply Chain

Reuters | Equities.com |

Ford Motor Co said on Thursday it will idle production of its highly profitable F-150 pickup truck at a plant in Michigan through Sunday due to the global semiconductor chip shortage.

Ford and other automakers have stressed they are trying to protect production of its most profitable vehicles, but the loss of even some full-sized pickups shows the shortage has hit Ford where it least wants.


AP News | Equities.com |

Dredgers, tugboats and even a backhoe failed to free a giant cargo ship wedged in Egypt’s Suez Canal on Thursday. More than 150 vessels are now backed up, with hundreds more headed to the vital waterway, and losses to global shipping are mounting.

The skyscraper-sized Ever Given, carrying cargo between Asia and Europe, ran aground Tuesday in the narrow, man-made canal dividing continental Africa from the Sinai Peninsula. Even helped by high tides, authorities have been unable to push the Panama-flagged container vessel aside, and they are looking for new ideas to free it.


AP News | Equities.com |

The U.S. economy grew at an annual rate of 4.3% in the final three months of 2020, slightly faster than previously estimated, as recovery expectations for 2021 rise along with vaccinations and the provision of nearly $2 trillion in additional government support.

GDP in the October-December quarter rose from an estimated rate last month of 4.1%, the Commerce Department reported Thursday. The upward revision reflected stronger inventory restocking by businesses.


AP News | Equities.com |

Orders to U.S. factories for big-ticket manufactured goods slumped 1.1% in February with demand in a key sector that tracks business investment also dropping.

Orders had been rising for nine consecutive months, including a sizable 3.5% jump in January, according to the Commerce Department.


Reuters | Equities.com |

General Motors Co extended production cuts in North America on Wednesday due to a worldwide semiconductor chip shortage that has impacted the auto sector.

The U.S. automaker said its Wentzville, Missouri, assembly plant would be idled during the weeks beginning March 29 and April 5. It will extend down time at its plant in Lansing, Michigan, which has been idled since March 15, by two weeks.


Reuters | Equities.com |

Honda Motor Co said on Tuesday it will extend production suspensions at some North American plants into the week of March 29 due to various supply chain issues.

Last week, the Japanese automaker said a variety of issues would force it to halt production at a majority of North American plants for the entire week of March 22 and impact production at the remainder of its North American plants.


Kimberly Redmond | Equities.com |

Renesas Electronics Corporation (OTC US: RNECY), a key automotive semiconductor supplier, said it will take a least a month to get one of its plants in northeastern Japan back online following a fire last week.

According to Tokyo-based Renesas, the fire broke out around 2:47 a.m. on March 19 after some equipment overheated in one of the buildings at its Naka factory in Hitachinaka and destroyed 11 semiconductor manufacturing machines, about 2% of the plant’s manufacturing equipment.


Kimberly Redmond | Equities.com |

Honda Motor Company will halt production at most of its factories in North America due to supply chain issues.

In a statement to Reuters on Tuesday, the automaker cited “the impact from COVID-19, congestion at various ports, the microchip shortage and severe winter weather over the past week” as reasons for the production cuts.


Reuters | Equities.com |

General Motors Co said on Monday that due to the global semiconductor chip shortage the U.S. automaker is building certain 2021 light-duty full-size pickup trucks without a fuel management module, hurting those vehicles’ fuel economy performance.

The lack of the active fuel management/dynamic fuel management module means affected models, equipped with the 5.3-liter EcoTec3 V8 engine with both six-speed and eight-speed automatic transmission, will have lower fuel economy by one mile per gallon, spokeswoman Michelle Malcho said.


Reuters | Equities.com |

Qualcomm Inc is struggling to keep up with demand for its processor chips used in smartphones and gadgets, as a chip shortage that first hit the auto industry spreads across the electronics business, industry sources told Reuters.

Samsung Electronics Co Ltd, the world’s largest smartphone maker, is experiencing a shortage of Qualcomm’s application processors, the heart of smartphones, two people at suppliers for the South Korean giant told Reuters.