GM catches up. 
Welcome to the Know the Difference Minute for Tuesday, October 25th. 
Spring 2022 was a tough time for General Motors. Due to missing parts, 90,000 vehicles were parked waiting for completion. As supply chains de-tangled and chips started arriving, the company was on its way to clearing 75% of the backlog by late June.  
GM put the pedal to the metal, operating North American factories at 103% capacity to meet demand.  It worked. Worldwide car and truck deliveries rebounded, up 17% from last year and 8% from the previous quarter. While revenue missed forecasts, earnings are up 48% from last year. 
Headwinds include a possible global recession which typically impacts vehicle sales—but the company says it sees no signs of a drop in demand. While Ford and Tesla have announced layoffs, GM says they have no plans to do so. 
I’m Dave Spano from Annex Wealth Management.  That is your Know the Difference Minute.