General Motors Co.
GM,
announced Friday that it delivered 446,997 vehicles in the U.S. during the third quarter, down 218,195 units from what the company delivered in the year-prior quarter. GM’s third-quarter deliveries were impacted by chip shortages as well as “historically low inventories.” The company still anticipates that its outlook will fall within its previously disclosed range for the full calendar year as GM “continues to develop solutions to mitigate the impacts of the semiconductor shortage and Chevrolet Bolt EV recall.” The company expects that it could see more stability going forward. “The semiconductor supply disruptions that impacted our third-quarter wholesale and customer deliveries are improving,” Steve Carlisle, the company’s executive vice president and president for North America, said in a release. “As we look to the fourth quarter, a steady flow of vehicles held at plants will continue to be released to dealers, we are restarting production at key crossover and car plants, and we look forward to a more stable operating environment through the fall.” Shares are down 0.8% in Friday morning trading. They’ve lost 11.5% over the past three months as the S&P 500
SPX,
has dipped 0.5%.
