General Motors chief executive Mary Barra said that while she expected the worldwide semiconductor shortage to ease somewhat by the end of this year, the carmaker will feel the impact through the first half of 2022.
The shortage squeezed sales and profits in the third quarter as dealers struggled with inventories too low to meet consumers’ demand for new cars and trucks. Still, GM said it planned to hit the high end of the guidance for the full year on adjusted earnings before interest and taxes that it set two months ago.
“We think [the shortage] will get better toward the end of the year, but I have to tell you, it still continues to be somewhat volatile,” Barra said.
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