6/3, 3:31 PM (Source: TeleTrader)
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GM expects 'significantly better' H1 as demand rises

General Motors Co. (GM) stated on Thursday that it anticipates "significantly better" results in the first half of 2021 than previously predicted.

The automaker noted that the global semiconductor shortage "remains complex and very fluid" and is seen impacting facilities in the Americas and Asia through June and July. However, GM's teams have found "creative ways to satisfy customers" despite the ongoing crisis and will continue to "develop long-term solutions" to the supply issue, the company's Vice President Phil Kienle asserted.

"Customer demand continues to be very strong, and GM's engineering, supply chain and manufacturing teams have done a remarkable job maximizing production of high-demand and capacity-constrained vehicles," the executive added.

Breaking the News / MD