General Motors GM Q1 2022 US sales

General Motors’ first-quarter U.S. sales fell 20% from a year ago, in line with analysts’ expectations, as ongoing supply-chain issues disrupted its production and kept dealers’ inventories tight.

But GM’s North America chief said that supplies of semiconductor chips are improving, and that he expects that GM will be able to post year-over-year sales increases by the second half of 2022.

GM’s factories were able to operate at “close to normal levels” in the first quarter, said Steve Carlisle, president of GM’s North America business unit.

The time lag between production and deliveries to dealers meant that GM’s total U.S. sales lagged those  of rival Toyota, which took the U.S. sales crown from GM in 2021.

This is developing news. Check back for updates.