General Motors says its supply chain issues are improving. That allowed the company to post better-than-expected earnings despite falling short of revenue forecasts.
America’s largest automaker said that by the end of June, it had been able to clear out of inventory about 75% of the roughly 90,000 vehicles it had not been able to complete because of missing parts.
“We’re delivering on our commitments and affirming our full-year guidance despite a challenging environment, because demand continues to be strong for GM products,” said GM CEO Mary Barra.
Its earnings for the quarter came in at $2.25 a share, up 48% from a year earlier and far better than the $1.88 a share forecast by analysts surveyed by Refinitiv. But revenue, while up 52% to a record $41.9 billion, was just short of forecasts of $42.2 billion.
GM said its North…