General Motors said Friday that its U.S. auto sales fell 15% in the second quarter as the automaker’s production continued to be hampered by supply chain issues and a shortage of semiconductors.
Expectation of net profit in the second quarter in the range of 1.6 to 1.9 billion dollars
The group even noted that as of June 30, it had about 95,000 vehicles in its inventory that were manufactured without certain elements, the press release explained. GM, however, expects all of these vehicles to be completed and sent to dealerships by the end of the year and has restated its guidance for 2022 accordingly. But it expects net profit in the second quarter, including between $1.6 billion and $1.9 billion, where. Analysts polled by FactSet expected 2.46 billion. For the entire second quarter, GM sold 582,401 vehicles in the US. If this is a decline compared to the same period in 2021, the manufacturer notes that it has gained market share in the last three quarters.
The entire auto industry is struggling to keep up with demand for new cars due to ongoing disruptions in their supply chain. Cox Automotive expects total U.S. auto sales to fall 19.3% in the second quarter compared to the same period in 2021.
Source: Le Figaro
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