Hobbled by Chip, Other Shortages, GM Profit Slides 40% in Q2

General Motors’ second-quarter net income fell 40% from a year ago as computer chip and parts shortages hobbled factory output and drove the company’s U.S. sales down more than 15%. The Detroit automaker earned $1.67 billion from April through June, in part because it couldn’t deliver 95,000 vehicles during the quarter because they were built without one part or another.

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