NEW YORK, April 27 ― General Motors lifted its 2022 net income forecast yesterday following a mixed quarter as it benefitted from strong consumer demand amid high vehicle prices despite lingering supply chain problems.
Net income in the first quarter dipped three per cent to US$2.9 billion on an 11 per cent jump in revenue to US$36 billion. Chief Executive Mary Barra told reporters the chip supply remains “volatile” but had improved compared with the fourth quarters. Executives said they have not seen evidence rising inflation and interest rates are preventing sales overall.
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