DETROIT — With the global shortage of semiconductors still crimping U.S auto production, General Motors has signed a deal with chipmaker GlobalFoundries to dedicate part of an upstate New York factory to supply the automaker. In a joint statement from the companies Thursday, Malta, New York-based GlobalFoundries said it will expand production capacity inside its Malta plant exclusively for GM’s …
DETROIT — General Motors’ third-quarter net profit rose 36.6% as vehicle sales began to rebound from persistent supply chain troubles. Chief Financial Officer Paul Jacobson said the company isn’t seeing any sign that demand for new vehicles is slowing despite higher interest rates and inflation. Auto prices, he said, may have to drop “as consumers become more focused on their …
