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GM expects inflation, semiconductor shortage to add $3 billion in extra costs in second half

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Brand new Chevrolet cars are displayed on the sales lot at Stewart Chevrolet on May 14, 2021 in Colma, California.

Justin Sullivan | Getty Images

General Motors expects the ongoing semiconductor chip shortage and rising inflation to increase its expenses during the second half of the year by up to $3 billion, CFO Paul Jacobson said Wednesday afternoon.

The additional costs include a greater-than-expected hit from the parts shortage during the third quarter as well as rising commodity prices that will force it to spend up to $2 billion more than it did in the first half of the year, he said.

Much, if not all of those costs, could be offset by the GM’s performance during the first half of the…



Source cnbc.com

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