General Motors Stock Halted, Leaps Higher On Q2 Chip Shortage Hit
Updated at 9:42 am EST
General Motors (GM) – Get General Motors Company Report cautioned Friday that chip shortages and supply chain disruptions lead to production delays that impacted around 100,000 vehicles, but reiterated its full-year profit forecasts.
GM said the 96,000 vehicles, which sit in the group’s broader inventory, were missing certain components that will delay their ultimate sale. Still, GM said second quarter U.S. sales were down 15.4%, although that tally came in under the…