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SVTPerformance's Chain of Restaurants
Road Side Pub
Frying Pan Into the Fire -- Chip Shortage
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<blockquote data-quote="Weather Man" data-source="post: 16675383" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3747040-chip-shortage-weigh-on-general-motors-q3-sales-down-488-yy" target="_blank"></a></p><p><a href="https://seekingalpha.com/news/3747040-chip-shortage-weigh-on-general-motors-q3-sales-down-488-yy" target="_blank">Chip shortages weigh on General Motors' Q3 sales, down 48.8% Y/Y</a></p><p></p><p></p><ul> <li data-xf-list-type="ul">General Motors (<a href="https://seekingalpha.com/symbol/GM" target="_blank">GM</a> -0.1%) <a href="https://investor.gm.com/news-releases/news-release-details/gm-reports-third-quarter-sales" target="_blank">reports</a> Q3 sales dropped 48.8% Y/Y to 446,997 vehicles vs. -31.5% forecast by Edmunds, due to semiconductor supply chain disruptions and historically low inventories.</li> <li data-xf-list-type="ul">Buick sales down 20.1%, Cadillac -31.7% and Chevrolet slipped 36.1% for the quarter.</li> <li data-xf-list-type="ul">On YTD basis total sales for Buick increased by 27%, GMC by 8% and Cadillac by 11%.</li> <li data-xf-list-type="ul">Fleet sales of full-size pickup trucks were up 13 %.</li> <li data-xf-list-type="ul">The new 2022 Chevrolet Silverado, which was revealed in September will begin arriving at dealerships in spring 2022 and the new 2022 GMC Sierra 1500 will also be revealed later this month.</li> <li data-xf-list-type="ul">“GM has been agile and decisive in managing COVID-related impacts on our production and wholesale volumes and we appreciate the support of our dealers and the loyalty of our customers,” said Steve Carlisle, executive vice president and president, GM North America. “The semiconductor supply disruptions that impacted our third-quarter wholesale and customer deliveries are improving. 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.”</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16675383, member: 137766"] [URL='https://seekingalpha.com/news/3747040-chip-shortage-weigh-on-general-motors-q3-sales-down-488-yy'] Chip shortages weigh on General Motors' Q3 sales, down 48.8% Y/Y[/URL] [LIST] [*]General Motors ([URL='https://seekingalpha.com/symbol/GM']GM[/URL] -0.1%) [URL='https://investor.gm.com/news-releases/news-release-details/gm-reports-third-quarter-sales']reports[/URL] Q3 sales dropped 48.8% Y/Y to 446,997 vehicles vs. -31.5% forecast by Edmunds, due to semiconductor supply chain disruptions and historically low inventories. [*]Buick sales down 20.1%, Cadillac -31.7% and Chevrolet slipped 36.1% for the quarter. [*]On YTD basis total sales for Buick increased by 27%, GMC by 8% and Cadillac by 11%. [*]Fleet sales of full-size pickup trucks were up 13 %. [*]The new 2022 Chevrolet Silverado, which was revealed in September will begin arriving at dealerships in spring 2022 and the new 2022 GMC Sierra 1500 will also be revealed later this month. [*]“GM has been agile and decisive in managing COVID-related impacts on our production and wholesale volumes and we appreciate the support of our dealers and the loyalty of our customers,” said Steve Carlisle, executive vice president and president, GM North America. “The semiconductor supply disruptions that impacted our third-quarter wholesale and customer deliveries are improving. 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.” [/LIST] [/QUOTE]
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SVTPerformance's Chain of Restaurants
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Frying Pan Into the Fire -- Chip Shortage
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