General Motors reported sales fell a third from a year-ago last quarter, and they were off 40% from the same quarter of 2019 before the pandemic roiled the car market. The company pointed to semiconductor supply chain disruptions and historically low inventories.
“The semiconductor supply disruptions that impacted our third-quarter wholesale and customer deliveries are improving,” said the nation’s largest automaker in a statement. “As we look to the fourth quarter, a steady flow of vehicles held at plants will continue to be released to dealers, we are restarting production at key crossover and car plants, and we look forward to a more stable operating environment through the fall.”
Other automakers are due to report results later Friday or on Monday.
