GM Holds ~95,000 Vehicles Manufactured Without Certain Components - Here's Why

  • General Motors Co GM provided a business update for 2Q22 and said its vehicle wholesale volumes were impacted by the timing of certain semiconductor shipments and other supply chain disruptions.
  • The company said it had approximately 95 thousand vehicles in its inventory, manufactured mostly in June, without certain components.
  • GM expects to complete and sell those vehicles to dealers before 2022-end.
  • The auto giant expects Q2 net income of $1.6 billion - $1.9 billion and adjusted EBIT of $2.3 billion - $2.6 billion.
  • For FY22, GM reaffirmed its net income outlook of $9.6 billion - $11.2 billion and adjusted EBIT guidance of $13.0 billion - $15.0 billion.
  • The company continues to expect FY22 adjusted EPS of $6.50 - $7.50.
  • Q2 Sales: GM reported sales of 582,401 vehicles in the U.S. during Q2, down 15% year over year. Electric vehicle sales were over 7,300 units.
  • GM finished the month with 247,839 vehicles in dealer inventory, including units in-transit to dealers. 
  • GM plans to gradually improve the production of the Cadillac LYRIQ and GMC HUMMER EV Pickup in the second half of 2022.
  • Also ReadToyota Cuts July Production Citing Parts Shortage
  • Price Action: GM shares are trading lower by 0.09% at $31.73 on the last check Friday.
  • Photo Via Company

Posted In: BriefsNewsGuidanceGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.