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7/1, 3:50 PM (Source: TeleTrader)
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GM reaffirms 2022 outlook despite Q2 supply issues

General Motors Co. revealed on Friday that "vehicle wholesale volumes were impacted by the timing of certain semiconductor shipments and other supply chain disruptions" in the second quarter of 2022.

"As a result, we had a total of approximately 95 thousand vehicles in our inventory that were manufactured without certain components... We expect that substantially all of these vehicles will be completed and sold to dealers before the end of 2022," GM said in a filing submitted to the United States Securities and Exchange Commission (SEC).

However, the carmaker reaffirmed its full-year outlook as it does not expect the disruptions to affect its earnings results for the entire 2022.

Baha Breaking News (BBN) / MS