American carmaker General Motors (GM) noted in its 2021 earnings outlook that the semiconductor shortage may impact its profit margins by $1.5-2bn this year.
In its Q4 2020 earnings release, the company noted that while production may be impacted, it will prioritize building full-size SUVs and trucks which are its bestselling and most profitable vehicles. On Feb 9, GM extended the production cuts at its plants across North America to mid-March.
The company also stated that it expects sales in China and South America to grow through the year. It has also planned a $7bn investment in electric vehicles (EVs) for 2021, building towards its plan to launch 30 EVs to the market by 2025.