{"id":347424,"date":"2021-10-02T11:43:59","date_gmt":"2021-10-02T08:43:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gm-reports-big-drop-in-3q-us-sales-on-semiconductor-woes\/"},"modified":"2021-10-02T11:43:59","modified_gmt":"2021-10-02T08:43:59","slug":"gm-reports-big-drop-in-3q-us-sales-on-semiconductor-woes","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gm-reports-big-drop-in-3q-us-sales-on-semiconductor-woes\/","title":{"rendered":"#GM reports big drop in 3Q US sales on semiconductor woes"},"content":{"rendered":"

“#GM reports big drop in 3Q US sales on semiconductor woes<\/strong>”<\/p>\n

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\"General
\n General<\/a> Motors reported a big drop in quarterly US sales due to the semiconductor shortage.
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General Motors reported a sharp drop in third-quarter US sales on Friday as the global semiconductor crunch depletes dealerships of auto supply amid still-strong consumer demand.<\/p>\n

The big US automaker described auto inventories as “historically low” after months of limited semiconductor supply, which has led to manufacturing outages and cuts throughout its plant network. <\/p>\n

GM reported third-quarter sales of 446,997 in the United States, down almost a third from the year-ago period.<\/p>\n

In the most recent quarter, the chip shortage was exacerbated by a surge in Covid-19 cases in Malaysia, which is home to key semiconductor capacity.<\/p>\n

But Steve Carlisle, executive vice president of GM North America, said the issues with chips “are improving” and that it looks forward to a “more stable operating environment through the fall.”<\/p>\n

One upside of the supply crunch for automakers has been rising vehicle prices, which can help offset some of the pain from lower sales. <\/p>\n

In the third quarter, GM’s average vehicle prices was $47,467, up almost 32 percent from the equivalent period in 2018.<\/p>\n

“While supply has been constraining sales in recent months, underlying demand conditions remain strong, thanks to ample job openings, growing pent-up vehicle demand and excess savings accumulated by many households during the pandemic,” said GM Chief Economist Elaine Buckberg.<\/p>\n

“We expect to continue selling every vehicle we can produce with rapid turnover.”<\/p>\n

Shares of GM fell 0.2 percent to $52.63 in morning trading.\n <\/p>\n\n

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US auto sales slump, stalled by car computer chip shortage\n <\/p><\/div>\n

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\n \u00a9 2021 AFP<\/p>\n

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Citation<\/strong>:
\n GM reports big drop in 3Q US sales on semiconductor woes (2021, October 2)
\n retrieved 2 October 2021
\n from https:\/\/techxplore.com\/news<\/a>\/2021-10-gm-big-3q-sales-semiconductor.html<\/p>\n

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