GMs Q1 sales rise in US, but chip shortage hits inventories

New York (AFP) – General Motors reported higher first-quarter US auto sales Thursday amid rising consumer confidence, but car inventories fell sharply due to the global semiconductor shortage. The largest US automaker pointed to continued strong demand for larger vehicles such as full-size sport utility vehicles and pickup trucks. “Consumer confidence and spending will continue to increase due to stimulus, rising vaccination rates and the progressive reopening of the economy,” said GM Chief Economist Elaine Buckberg. “Auto demand should remain strong throughout the year.” In the first quarter,…

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