General Motors Co. on Friday reported a 15% year-over-year decline in its second quarter sales when the automaker still remained supply constrained, but the automaker also still expects to deliver $9.6 billion to $11.2 billion in net income this year, according to a Friday filing with the Securities and Exchange Commission.
The automaker expects its second-quarter net income to come in between $1.6 and $1.9 billion, according to the filing. GM made $2.8 billion in the second quarter of 2021 and $10 billion for the year. Second-quarter earnings will be released at the end of the month.
GM said its vehicle wholesale volumes were affected in the second quarter of 2022 by supply chain disruptions, including delayed semiconductor shipments. The automaker totaled about 95,000 vehicles in its inventory awaiting certain parts as of June 30. Most of the vehicles were built in June.
