(WWJ) -- General Motors has delivered some good news this morning with the release of its latest earnings report.
The auto company made a $2.8 billion net profit in the second quarter of 2021.
The strong profits come despite a recent computer chip shortage, which closed some of GM’s factories this year. During the second quarter, a reported 200,000 fewer vehicles were produced in comparison to the same quarter pre-COVID.
Still, it was high transaction prices averaging in the upper-$40,000 range that accounted for GM’s healthy earnings, WWJ’s Jeff Gilbert reports.
Much like its competitors Ford and Stellantis, GM says it was fully-loaded pickup trucks and luxury SUVs that helped overcome inventory shortages.
General Motors CEO Mary Barra says the company has been able to prioritize production of those higher-end vehicles, and they are hopeful that they can hold steady despite a recent resurgence of the pandemic due to the rise of the Delta variant.
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Barra also told WWJ that GM would not rule out the possibility of requiring workers to be vaccinated.
“We are evaluating multiple choices that we can make, but our intent is always to keep our employees and our customers safe,” Barra said.
On Tuesday, the United Auto Workers union (UAW) announced that it is reinstating mask mandates for all auto workers at Ford, General Motors and Stellantis -- regardless of vaccination status.
The mandate goes into affect today (August 4) as the UAW task force urges members and their families to get vaccinated.
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