GM Stock Rises as Oshawa Prepares to End Light-Duty Silverado Output
General Motors shares rose 7.4% in October through October 9, closing at $82.73. The company confirmed it will stop building the light-duty Silverado 1500 at Oshawa in November, replacing that volume with more heavy-duty output while keeping employment levels unchanged. U.S. light-duty Silverado deliveries rose 13.3% in the third quarter, but total deliveries fell 5.5% due to lower EV sales, with third-quarter results due October 20.
GM shares ended October 9 at $82.73, up 7.4% from September 30’s $77.00. The automaker said Oshawa, its sole active Canadian assembly site, will cease light-duty Silverado 1500 production in November. Heavy-duty pickup output will absorb that capacity, and GM expects no change in staffing there. Third-quarter results are scheduled for October 20.
In the third quarter, U.S. light-duty Silverado deliveries increased 13.3% to 100,221, while heavy-duty deliveries decreased 10.1% to 44,278. Total U.S. deliveries dropped 5.5% to 670,974, largely because EV volume fell by 41,028 units to 25,473. Ford’s quarterly U.S. sales declined 6.6%.
The Oshawa shift may affect Canadian autoworkers and nearby suppliers, though GM says staffing will remain level. If heavy-duty output replaces light-duty volume, local employment could be steadier, but the plant’s long-term product mix may remain uncertain. Consumers might see tighter light-duty Silverado availability or different pricing as production moves. GM’s EV sales decline could also slow broader adoption, affecting charging and battery supply-chain investment.