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As World Wrestles With a Chip Shortage, GM's Plants Fire Back Up


As World Wrestles With a Chip Shortage, GM’s Plants Fire Back Up
Bloomberg
1 hr ago
© Bloomberg
GM Lansing Assembly Plant Makes 3 Millionth Vehicle
(Bloomberg) The global shortage of semiconductors is getting worse, but General Motors Co. has found ways to work its massive chain of suppliers and minimize the damage better than its biggest rivals.
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The company is bringing back five plants that were shut down due to a lack of chips and adding a second shift at another, a clear sign that the largest U.S. automaker is managing the global crisis even as companies in many industries keep struggling. Crucially, two of the plants being reopened build small sport utility vehicles popular as family haulers and rentals, potentially helping to ease a scarcity of cars available for vacationers. ....

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GM tops profit estimates, keeps 2021 forecast despite chip woes


GM tops profit estimates, keeps 2021 forecast despite chip woes
David Welch, Bloomberg News
General Motors Co. Chevrolet Colorado trucks are displayed at a car dealership in Tinley Park, Illinois.
, Bloomberg
General Motors Co. reported stronger-than-expected profit growth in the first quarter on robust vehicle demand in the U.S. and China even as a shortage of semiconductors curtailed production.
The Detroit-based automaker posted adjusted profit of US$2.25 a share Wednesday, beating a consensus estimate of US$1.08. GM attributed the healthy performance to booming sales of full-size and higher-margin sport utility vehicles and pickup trucks.
“These strong results demonstrate once again the underlying strength of our business, especially in North America and China,” Chief Executive Officer Mary Barra said in a letter to shareholders. ....

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