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GM escalates the electric vehicle arms race
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General Motors escalates the electric vehicle arms race
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GM profit shrugs off chip shortage with high-priced pickups, SUVs Reuters 3 hrs ago By Nick Carey and Ben Klayman © Reuters/Rebecca Cook FILE PHOTO: General Motors debuts the new 2019 GMC Sierra pickup truck at the Russell Industrial Center in Detroit
By Nick Carey and Ben Klayman
(Reuters) -General Motors Co on Wednesday posted far stronger-than-expected first-quarter profit despite a global semiconductor chip shortage as it held down costs and focused on high-margin pickup trucks and SUVs. © Reuters/REBECCA COOK FILE PHOTO: General Motors Chief Executive Officer Mary Barra wears safety glasses on the assembly floor at the GM Orion Assembly Plant in Lake Orion,
GM profit shrugs off chip shortage with high-priced pickups, SUVs
By Nick Carey and Ben Klayman
Reuters
(Reuters) -General Motors Co on Wednesday posted far stronger-than-expected first-quarter profit despite a global semiconductor chip shortage as it held down costs and focused on high-margin pickup trucks and SUVs.
The Detroit automaker, whose shares were up 3.3% in early trading, also said its full-year pre-tax profit would come in at the high end of its forecast. The speed and agility of our team are front and center as we move from managing through a pandemic to managing the global semiconductor shortage, Chief Executive Mary Barra said in a letter to shareholders. This remains a challenging period.
GM profit races past expectations despite global chip shortage
By Nick Carey and Ben Klayman
Reuters
(Reuters) -General Motors Co on Wednesday posted a better-than-expected first-quarter profit despite a global semiconductor chip shortage that shuttered some plants, and said it expected full-year pretax profit to come in at the high end of its forecast. The speed and agility of our team are front and center as we move from managing through a pandemic to managing the global semiconductor shortage, Chief Executive Mary Barra said in a letter to shareholders. This remains a challenging period for the company as we emerge from 2020.
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