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

CNBC2021-06-17

KEY POINTS 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 The increased costs ...

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Comments

Sm9999
2021-06-17
Sm9999
Good info
moonlightbae
2021-06-17
moonlightbae
any semiconductor companies wanna hire me xoxo
sexymint
2021-06-17
sexymint
Lalalala
giveandtake
2021-06-17
giveandtake
Nooooo
hoxle
2021-06-17
hoxle
Good to buy
peakaboo
2021-06-17
peakaboo
Wow good good
- Melodykjh:
  Cool

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The forecast factored in the potential impact of the chip shortage, including a hit of $1.5 billion to $2 billion to earnings.\nThe first half of the year has been better than many expected for automakers such as GM. Supply constraints due to the chip shortage have led to higher vehicle prices and profits.\n“We’re certainly bullish, as it relates to our prior guidance,” Jacobson said. “We’re intentionally not giving a full year guidance, yet we want to do that on our earnings call as we start to get into the third quarter and start to understand what the chip dynamics look like.”\nJacobson said the chip situation remains very fluid. For example, a new Covid outbreak in Malaysia is disrupting the semiconductor chip market, he said. Vehicle supply constraints are expected to continue into 2022, he said.\n“As long as that continues, we’re losing some production there from some key chip providers and it’s things like that that really make this a week to week phenomenon,” he said.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":163709327,"gmtCreate":1623892570469,"gmtModify":1703822688291,"author":{"id":"3556603880908436","authorId":"3556603880908436","name":"Sm9999","avatar":"https://static.tigerbbs.com/f22a01c260a2d3210c64d83a162185c8","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3556603880908436","idStr":"3556603880908436"},"htmlText":"Good info&nbsp;","listText":"Good info&nbsp;","text":"Good info","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/163709327","repostId":1138162876,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":163464264,"gmtCreate":1623891607658,"gmtModify":1703822628126,"author":{"id":"3575016656391852","authorId":"3575016656391852","name":"moonlightbae","avatar":"https://static.tigerbbs.com/9e8bead30ce122327046cb50ca725a77","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3575016656391852","idStr":"3575016656391852"},"htmlText":"any semiconductor companies wanna hire me xoxo","listText":"any semiconductor companies wanna hire me xoxo","text":"any semiconductor companies wanna hire me xoxo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/163464264","repostId":1138162876,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":163498430,"gmtCreate":1623890668220,"gmtModify":1703822568986,"author":{"id":"3561164848573536","authorId":"3561164848573536","name":"sexymint","avatar":"https://community-static.tradeup.com/news/a54ee2b9637460582a780737f4e76f73","vip":1,"hat":"https://static.tigerbbs.com/3b7820dfed76481d8dc4de6ac5a7a136","crmLevel":9,"crmLevelSwitch":1,"authorIdStr":"3561164848573536","idStr":"3561164848573536"},"htmlText":"Lalalala","listText":"Lalalala","text":"Lalalala","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/163498430","repostId":1138162876,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":163404961,"gmtCreate":1623890537553,"gmtModify":1703822559736,"author":{"id":"3582239313452026","authorId":"3582239313452026","name":"giveandtake","avatar":"https://static.itradeup.com/news/7412c0630d30fa9af024d2d293f9615c","vip":1,"crmLevel":2,"crmLevelSwitch":1,"authorIdStr":"3582239313452026","idStr":"3582239313452026"},"htmlText":"Nooooo&nbsp;","listText":"Nooooo&nbsp;","text":"Nooooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/163404961","repostId":1138162876,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":163511365,"gmtCreate":1623888639057,"gmtModify":1703822459304,"author":{"id":"3574242159805641","authorId":"3574242159805641","name":"hoxle","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574242159805641","idStr":"3574242159805641"},"htmlText":"Good to buy","listText":"Good to buy","text":"Good to buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/163511365","repostId":1138162876,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":163532282,"gmtCreate":1623888454946,"gmtModify":1703822450063,"author":{"id":"3574970544772920","authorId":"3574970544772920","name":"peakaboo","avatar":"https://static.tigerbbs.com/0e48f646ead1b2a6b5e7b8c204d2b68c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574970544772920","idStr":"3574970544772920"},"htmlText":"Wow good good","listText":"Wow good good","text":"Wow good 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