DETROIT : General Motors Co and Ford Motor Co are expected to report next week they turned solid profits for the last quarter of 2021, but rarely has past performance mattered less to investors.
Though GM and Ford were once giants of the global auto sector, their market capitalizations have been dwarfed by EV maker Tesla. Tesla on Wednesday reported stronger than expected revenue and profit for the fourth quarter of 2021, but warned that supply-chain bottlenecks would continue through 2022 and likely prevent its factories from running at full capacity.
Analysts expect both companies to be cautious in their outlooks for 2022. Shortages of semiconductors are expected to weigh on production into the second half of the year, Bank of America wrote in a note.
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