Chip shortage hits GM’s third-quarter sales

General Motors’ U.S. vehicle sales during the third quarter plummeted by more than 30% from 2020 as an ongoing shortage of semiconductor chips interrupted production and cut dealer inventories.

The Detroit automaker on Friday said it sold about 447,000 vehicles from July through September, down 32.8% from last year when sales volumes were depressed due to the pandemic. The decline was slightly wider than industry analysts’ expectations of 28.9% and 31.5%.

The chip shortage has caused GM to shutter plants for weeks, if not months, and also partially produce vehicles that are in high demand.

GM warned investors last month its North American wholesale volumes would be down by around 200,000 units in the second half of 2021 compared with the first six months of the year.