Due to a scarcity of parts, General Motors was unable to ship over 100,000 vehicles by the end of the quarter, resulting in second-quarter results that fell below Wall Street expectations.
However, the business reiterated its prior earnings forecast for the entire year, expressing confidence in its ability to ramp up production in the second half of 2022.
Additionally, it declared that it had secured enough supply of essential battery-related materials to satisfy its mid-decade electric vehicle aspirations.
As Covid-19 outbreaks and more recently, Russia’s invasion of Ukraine, forced production closures and caused chaos with logistics around the world,
GM has also been dealing with supply-chain interruptions for the past few quarters.
