GM Q3 profit drops to $2.4bn amid semiconductor crunch
MG News | October 27, 2021 at 05:39 PM GMT+05:00
October 27, 2021: Amid a semiconductor shortage that has hit auto sales, General Motors said Wednesday the company's third quarter profit fell to $2.4 billion.
"The quarter was challenging due to continuing semiconductor pressures," GM chief Mary Barra said in a letter to shareholders, but noted that the automaker expects full-year results to be near "the high end" of the projected range of $11.5 billion to $13.5 billion.
AFP/APP
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