Hyperdrive
Unfazed by Chip Scarcity, GM Expects to Hit 2021 Profit Goal
- Automaker’s results powered by full-size SUV, truck demand
- CEO Barra says GM will ‘never’ return to pre-Covid inventories
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General Motors Co. isn’t fazed by a global chip shortage that has brought many auto plants to a standstill.
The carmaker left its full-year outlook unchanged on Wednesday and said that, if anything, it would hit “the higher end” of its 2021 earnings target. That came as it reported stronger-than-expected profit growth in the first quarter.