Salem Radio Network News Wednesday, October 20, 2021

Business

GM president: Global chip supplies to stabilize, but at lower-than-desired levels

DETROIT (Reuters) – General Motors Co’s president said on Tuesday the global supply of semiconductor chips will begin to stabilize but at levels below what the auto industry wants as it tries to rebuild vehicle inventories.

“We’re going to see a stablization to some extent before we see getting the volume we really need,” Mark Reuss said at a conference hosted by the Detroit Regional Chamber on Mackinac Island in northern Michigan.

(Reporting by Ben Klayman; Editing by Chris Reese)

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