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Standard Motors said on Friday that new-motor vehicle revenue had been down 33 per cent in the third quarter from a calendar year earlier as a result of semiconductor shortages and dwindling inventories on seller loads.
The automaker bought 446,997 automobiles in the July-to-September quarter, a sharp decline from the 12 months-back interval, when it offered 665,192 light-weight vans and cars. In the 3rd quarter of 2019, G.M. sold 738,638 autos.
The international lack of semiconductors has compelled G.M. and other makers to idle crops for weeks at a time, leaving sellers with restricted stocks of vehicles and vehicles for sale. At the end of September, G.M. experienced just 128,757 motor vehicles in vendor inventories, down from 211,974 at the finish of the next quarter.
G.M. sellers had additional than 334,000 vehicles in inventory at the close of the first quarter. In decades past, G.M. generally retained about 800,000 autos in seller inventories.
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