General Motors says sales rose 24% in the third quarter

DETROIT – General Motors' third-quarter conveyance income accrued 24% compared to a twelvemonth ago, erstwhile proviso concatenation issues weighed much heavy connected the company's output.

The Detroit automaker connected Monday said it sold 555,580 vehicles from July done September, up from 447,000 a twelvemonth earlier, erstwhile income were depressed owed to Malaysia-related proviso issues of semiconductor chips. The summation was successful enactment with oregon higher than manufacture analysts' expectations of an astatine slightest 21.6% increase.

Regarding electrical vehicles, GM said it plans to summation accumulation of its Chevrolet Bolt EV and EUV aft the vehicles recorded their champion quarterly income ever astatine 14,709 units. GM intends to boost calendar-year accumulation for planetary markets from astir 44,000 vehicles successful 2022 to much than 70,000 successful 2023.

GM is among the archetypal large automakers to study third-quarter income Monday. Overall, analysts estimation automakers sold 3.4 cardinal caller light-duty vehicles successful the U.S., down little than 1% from the aforesaid clip past year.

Automakers proceed to woody with proviso concatenation issues – from semiconductors and ligament harnesses to smaller parts specified as conveyance and institution logos.

GM ended the 3rd 4th with 359,292 vehicles successful trader inventory, including units in-transit, an summation of 111,453 units from the erstwhile quarter. That's astir 3 times the inventory disposable astatine the extremity of the 3rd 4th of 2021, erstwhile Covid-related proviso concatenation issues impacted production.

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