DETROIT — The latest signs the global semiconductor shortage may be easing? Ten cents and the Chevy Malibu.
General Motors and Ford Motor Co. reported lower third-quarter earnings than a year earlier because of the parts crisis that has kept many dealer lots bare for months, but each automaker appears to be in better position to weather the shortage, which could linger through most of next year and into 2023.
Ford, predicting increased volume in the final months of 2021, raised its full-year guidance and said it would pay shareholders a 10-cent quarterly dividend for the first time since the coronavirus pandemic began. GM this week plans to resume production of the Malibu for the first time since early February, an indication that its chip supplies are stable enough to build even its lowest-priority vehicles. And Stellantis reported 14 percent lower revenue but reaffirmed its full-year profit margin guidance while predicting a "moderate" improvement on chip supply through the remainder of the year.