GM

General Motors Company

39.90
USD
-1.31%
39.90
USD
-1.31%
30.33 67.21
52 weeks
52 weeks

Mkt Cap 57.92B

Shares Out 1.45B

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As More Cars Hit Dealership Lots, Buyers Feel Pinch of Rising Interest Rates

More new cars and trucks are finally trickling into dealerships as supply-chain troubles ease and auto makers increase factory output. Now, rising interest rates and other economic pressures are starting to put a damper on the car-buying mood. Several major auto makers reported U.S. sales declines in the third quarter as inventory levels remained pressured, despite some improvement in recent months. General Motors posted a 24% jump in third-quarter U.S. sales as its vehicle availability increased after it was disproportionately hit last year by supply-chain constraints resulting from Covid-related shutdowns in Asia.

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