(RTTNews) – General Motors Co. (GM) reported that it sold 582,401 vehicles in the U.S. in the second quarter, down 15% year over year. The company said vehicle production was strong during the second quarter and the company finished the month with 247,839 vehicles in dealer inventory, including units in-transit to dealers.
GM noted that its second quarter vehicle wholesale volumes were impacted by the ongoing semiconductor supply shortage and other supply chain disruptions mostly in June. The company will hold about 95,000 vehicles manufactured without certain components in its inventory until they are completed and will recognize revenue when they are sold to dealers, which is expected to happen throughout the second half of 2022.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
