US automaker General Motors (GM) increased its US wholesale inventories in the third quarter as semiconductor supplies grow.
The company's dealer inventories grew to 359,000 vehicles at quarter's end, nearly triple the 129,000 vehicles it had in stock in the same period of 2021. The figure is up by 45pc compared with the prior quarter.
Increased volumes were attributed to improved semiconductor supplies, which have been hampered since January 2021 and have cost the North American auto industry more than 3mn vehicles, according to AutoForecast Solutions.
GM's chief executive Mary Barra said the company completed and shipped nearly 75pc of the uncompleted vehicles it had in inventory at the end of the second quarter.
The company's chief financial officer Paul Jacobson said he does not believe GM will make "big increases in production" as it works to match inventories with demand.
US deliveries in the quarter were 556,000, an increase of 24pc compared to the prior year but down by 4.5pc compared with the prior quarter.
