US Automakers Post Higher Quarterly Sales Even as Chip Shortage Bites

US Automakers Post Higher Quarterly Sales Even as Chip Shortage Bites
Chevrolet Equinox SUVs are parked awaiting shipment next to the General Motors Co (GM) CAMI assembly plant in Ingersoll, Ontario, Canada on October 13, 2017. Chris Helgren/Reuters File Photo
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Automakers on Thursday reported a rebound in first-quarter U.S. sales from a coronavirus-induced slump last year, but volumes were capped by a global chip scarcity that forced many companies to cut production.

The need for increased personal safety during the COVID-19 pandemic has boosted sales for automakers, as people prefer traveling by their own cars to using public transportation.