Ford, GM profits fall along with sales, due to chip shortage

DETROIT — The global computer chip shortage cut into third-quarter profits at both Ford and crosstown rival General Motors, with both companies having to temporarily close factories, pinching supplies on dealer lots. Ford’s net income of $1.83 billion fell 23% from a year ago, while GM’s profit dropped 40% to $2.4 billion. High prices, mainly […] October 28, 2021 at 06:49AM