GM extends vehicle production cuts due to semiconductor chip shortage

From reuters.com

General Motors Co said on Wednesday it was further extending production cuts at three North American plants and adding a fourth to the list of factories hit by the global semiconductor chip shortage. The extended cuts do not change GM’s forecast last month that the shortage could shave up to $2 billion from this year’s earnings. GM Chief Financial Officer Paul Jacobson subsequently said chip supplies should return to normal rates by the second half of the year and he was confident the profit hit would not worsen. The U.S. automaker did not disclose the impact on volumes or say which supplier or parts were ... (full story)