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GM raises 2021 earnings guidance on pricing and better chip supply

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General Motors is slightly raising its 2021 earnings guidance on strong pricing, resilient consumer demand and a stronger-than-expected supply of semiconductor chips.

The Detroit automaker’s new adjusted earnings guidance for this year is about $14 billion, up from an already raised guidance of between $11.5 billion and $13.5 billion, GM CFO Paul Jacobson said Wednesday.

“I’m pleased to say that we’ve experienced a little bit of favorability on costs and volumes have been trending higher than we expected them to be primarily on chip availability,” he said during a Credit Suisse investor event.

Jacobson also cited “continued strength in the consumer” as…



Source cnbc.com

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