Business
General Motors (NYSE:GM) profit beats estimates, but chip shortage could cost $2 Billion in 2021
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
General Motors (NYSE: GM) reported a fourth-quarter profit that beat Wall Street’s estimates, but said that an ongoing shortage of semiconductors could shave up to $2 billion from its profits in 2021.
GM’s guidance for 2021 calls for an adjusted operating profit between $10 billion and $11 billion, taking into account the net impact of between $1.5 billion and $2 billion resulting from the worldwide chip shortage.
About the chip shortage
GM said on Tuesday that it will extend shutdowns at three of its North American assembly plants until at least mid-March, amid a shortage of chips that has hit auto production in…
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