Auto Update: GM Rides Microchip Supply Rebound

Availability of microchips a shot in the arm for auto market.

As the automotive microchip supply regains form, General Motors is more bullish on how 2021 will play out. The automaker will ship 30,000 midsize pickups by early July. GM’s production of heavy-duty pickups will also increase by 1,000 units a month in July. This is good news not just for GM, it will ease demand and pricing concerns for the entire auto market.

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General Motors on Thursday said its second-quarter financial results will be “significantly better” than executives previously projected, citing improved supplies of semiconductors and additional workarounds it has found to deal with the shortage … GM hinted at the start of a recovery last week when it outlined restart plans for nearly all of its assembly plants.

Read the full article on Autonews.com:
GM Raises Financial Outlook as Chip Supply Improves

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