General MotorsThe company is raising its guidance for 2021 earnings on the basis of strong pricing and resilient consumer demand. This comes despite continuing impacts from the global shortage in semiconductor chips, which has reduced vehicle inventories and closed plants.

New adjusted earnings guidance from Detroit Automaker for the year will be about $14 billion. That’s an increase of $11.5 billion to $13.5 billion guidance, GM CEO Paul Jacobson stated Wednesday.

Wall Street analysts and investors who had been disappointed by the company’s previous guidance are likely to be pleased with this new direction. guiding to the “high end”Its range was revealed in the October third-quarter results. The automaker’s shares dropped by 5.4% on Oct. 27 after the third-quarter results, followed by crosstown rival Ford MotorIt was partially raised that day.

As it sought to assess the effect of continuing semiconductor shortages, GM had initially estimated that adjusted earnings would range between $10 billion and $12 billion for 2011.