Autos

General Motors says worst of global chip shortage may be behind it

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General Motors employees work on the assembly line at the Fairfax Assembly & Stamping Plant in Kansas City, Kansas.

Jim Barcus for General Motors

General Motors executives believe the global chip shortage, which has forced automakers to cut production and close plants, is beginning to improve and are confident the company will hit its earnings targets for the year.

“Over the last couple of weeks as we talked about this being a volatile situation, we’ve actually seen the situation get better for us,” GM CFO Paul Jacobson said during a Wolfe Research conference Wednesday afternoon. “At this point, I would say that we’re highly confident about being able to hit our guidance that we put out to…



Source cnbc.com

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