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GM now expects commodity inflation to set back adjusted earnings by as much as $2 billion this year.
General Motors raised its expected commodity inflation impact to as much as $2 billion for 2024.
KEY POINTS
- GM previously estimated the annual commodity inflation hit at no more than $1.5 billion.
- The war in Iran is directly contributing to higher costs for GM, especially in raw materials.
- GM's higher costs are affecting several areas including aluminum, steel, transportation, and logistics.
COMPANIES
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