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2Q gain at $2.8B for GM
Cautious forecast sinks share prices
by
TOM KRISHER THE ASSOCIATED PRESS
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Today at 2:10 a.m.
GMC pickups line a sales lot at the Albrecht Auto Group dealership on Tuesday in Wakefield, Mass.
(AP/Charles Krupa)
DETROIT General Motors posted a $2.8 billion second-quarter profit Wednesday, but its cautious outlook for the rest of the year spooked investors.
The Detroit automaker made the strong profit despite a global shortage of computer chips that have forced it and other companies to temporarily close factories.
While GM raised its outlook for the year, it also cautioned about high commodity prices and lower production because of the chip shortage, and it warned that the highly contagious delta variant of the coronavirus could hamper its supply chain.
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