https://techcrunch.com/2022/07/26/why-gm-profits-dropped-40-in-the-second-quarter/

General Motors said Tuesday it’s moving to take more control over its supply chain in response to a dismal second quarter that saw profits fall 40% year-over-year as it shifts more towards EVs.

The automaker reported second-quarter net income of $1.69 billion, a 40% reduction from the $2.84 billion it earned in the same year-ago period. GM blamed its weak performance on a drop in North American production due to supply chain disruptions and semiconductor chip shortages that caused bottlenecks at its factories.