Senior executives of General Motors recently told the media that the global chip shortage that has forced automakers to cut production and close factories is beginning to improve and are confident that they can achieve their annual profit targets.

According to previous reports, due to chip shortages, General Motors closed its car assembly plants in Kansas, Canada and Mexico. The company said it will give priority to the production of the most demanded products, including full-size cargo trucks, SUVs and Corvette sports cars, which are in fact the most profitable cars.

GM’s Chief Financial Officer Paul Jacobson said recently: “In the past two weeks, we have discussed that this is a kind of change. In fact, we have seen things get better and better. Now, what I want to say is that we are confident that we can achieve the published financial forecast."

"We are full of confidence and are working hard to solve this problem. We can return to normal in the second half of this year as soon as possible... and have high confidence that this will no longer be a problem in the future." Jacobson added.