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Carmakers Log Ugly Quarter Amid Chip Squeeze: Auto Sales Update
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Carmakers reported U.S. third-quarter sales and most of the numbers were pretty ugly, battered by the global semiconductor shortage. A couple of companies flagged signs that their troubles may ease in the current quarter, however.
General Motors Co., which idled key truck plants in September, took the biggest blow, with sales dropping by a third in the latest three-month period.