General Motors Faces Problems In Vehicle Delivery: Report

General Motors Co (NYSE:GM) reportedly faces delays in dealer delivery, though the company has been attracting strong demand in the U.S.

The automaker has been facing the risk of logistics after COVID and has been struggling to ship vehicles fast to its dealers by truck or rails, reported Reuters.

“We have good inventory (levels) overall, but we’d like to get some of those units to our dealers from some of the plants quicker than they are today,” the report quoted Rory Harvey, the company’s North America president.

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The executive refused to express if the lower sales of GM’s newest electric vehicles, the GMC Hummer EV and Cadillac Lyriq, were concerned with Ultium batteries.

General Motors sold 1,348 Lyriqs and 47 Hummers in the second quarter.

The company has slashed the starting price for the Cadillac Lyriq by 14% in China.

“GM very strongly continues to have discipline in terms of incentives, which means that demand is still very high,” he said.

“At this particular point in time, we could just about sell every product that we can build.”

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Price Action: GM shares are trading lower by 0.34% at $38.88 in premarket on the last check Tuesday.