New York (CNN Business) General Motors said strong sales and demand for vehicles doesn't suggest any signs of an economic slowdown, but the company is preparing for a possible recession — just in case. "While demand remains strong, there are growing concerns about the economy to be sure," said CEO Mary Barra in comments to investors. The limited supply of vehicles and strong demand, especially in North America, drove up prices. The Covid shutdowns in China limited production at Chinese factories and brought sales in the country to a near halt . China has been GM's largest market in recent years, although US sales topped Chinese sales in the most recent quarter.

Source: CNN July 26, 2022 21:05 UTC