Pricey models help GM outrace first-quarter supply chain snarls

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cookfirst-quarter profit beat analyst estimates on Tuesday, as the automaker focused on sales of more expensive models with higher margins, even with production still limited by chip shortages and supply chain disruptions.

"While the results exceeded expectations, and marked a much-needed positive data point for the stock, we believe the core investor question is whether this earnings power can be maintained amid rising inflationary pressures," Credit Suisse analyst Dan Levy said in a research note. GM reaffirmed a goal to build 400,000 electric vehicles this year and next, but in the latest quarter the company had just a 0.3% share of the electric vehicle market in the United States.

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