DETROIT—General Motors Co. on Tuesday reaffirmed its full-year profit outlook on an expected surge in demand and said it was curbing spending and hiring ahead of a potential economic slowdown, but a 40 percent drop in its quarterly net income disappointed, sending shares lower in premarket trading.
The Detroit automaker’s net income fell 40 percent in the second quarter from a year earlier due to supply-chain snarls, including a global semiconductor chip shortage, sending its shares down 2.2 percent in premarket trading.
Chief Executive Mary Barra said the company was “already taking proactive steps to manage costs and cash flows” ahead of a possible slowdown in the economy….