Strong sales of its existing pickup and SUV lines in Q4, despite decreased sales numbers due to the semiconductor shortage and supply chain constrictions, have GM positioned for a strong start to 2022 as the company works to electrify and automate its vehicle offerings.
“With an improving outlook for semiconductors in the U.S. and China, we expect our 2022 results will remain strong,” GM CEO Mary Barra wrote in a letter to shareholders Tuesday. “In fact, we expect our EBIT-adjusted earnings to remain at or near record levels in the range of $13 billion — $15 billion, all while investing more year over year in our growth businesses like Cruise, BrightDrop and our rapidly accelerating portfolio of electric vehicles.”
Barra points to strong demand for GM’s burgeoning line of EVs running on the Ultium battery platform — such as the currently available Hummer EV as well as upcoming…
