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GM Profit Drops 39% In Q4 as Chip Shortage Slowed Production

GM Profit Drops 39% In Q4 as Chip Shortage Slowed Production

General Motors’ net income plunged 39 percent in the fourth quarter to $1.7 billion as the global microchip shortage continued to hamper production, but the automaker said it achieved a record full-year operating profit and expects to roughly match that performance in 2022.