 "General Motors")
General Motors Co on Wednesday reported a higher-than-expected fourth-quarter profit on strong demand for trucks and SUVs during the Covid-19 pandemic but forecast weaker-than-expected 2021 results citing a shortage of chips used in car production.
GM shares were down 0.3% to $55.89 in premarket trading.
The automaker expects a chip shortage to trim $1.5 billion to $2.0 billion from its 2021 operating profit. It forecast a range of $10.0 billion to $11.0 billion, or $4.50 to $5.25 a share. Analysts had expected $5.89, according to Refinitiv data.
The global chip shortage also will have a short-term impact on production and
