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Mary Barra: I think the chip shortage "will last into 2023"

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General Motors CEO Mary Barra discusses the ongoing chip shortage and how long hse predicts it will last.

Video Transcript

MARY BARRA: Well, we still are seeing some constraints in products. So, frankly, right now, the demand for our products. And we have some new products coming out right now, like the next generation of our Silverado, our Chevy Silverado, and our GMC Sierra. So we're seeing really strong demand. I think people are going to continue to see that there's not a huge availability of vehicles. And that is you leading to stronger pricing. But we also think there's value there with the new innovation on these vehicles.

- I do want to talk about your product line because it's really exciting all the changes that you're making to new vehicles. But I do want to ask you a little bit about supply chain.

MARY BARRA: Sure.

- Everyone's heard about the chip shortage, Mary. How is that affecting what you're able to do?

MARY BARRA: Well, it still is having an impact. What we see is kind of quarter after quarter, it gets better. But I think it will last into 2023. We're changing the way we do semiconductors. So over the longer term, we plan on having fewer versions of semiconductors. We're going to standardize on three families. But for right now, we're working through the constraints. And I have to give a big shout out to our supply chain team. They do a phenomenal job.