GM reports higher profits, sees limited hit from chip shortage

New York (AFP) – Strong demand for large autos in the United States boosted General Motors’ fourth-quarter profits as the big automaker projected Wednesday higher 2021 operating earnings despite a global semiconductor supply shortage. GM reported fourth-quarter profits of $2.8 billion, compared with a loss of $194 million in the year-ago period. Revenues rose 21.7 percent to $37.5 billion. The results capped a rollercoaster year for GM and other US automakers, which were forced to shut down plants in the spring due to the coronavirus. The company suffered a big loss in the second quarter, but …

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