DETROIT (Michigan News Source) – Third quarter net revenue at General Motors came in a $3.3 billion, almost $1 billion more than this time last year.

The company says overall revenue was $42 billion and officials say the automaker is on track to make between $9 and $11 billion for the year.

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GM is reducing its target for electric-vehicle sales because of a delay in ramping up battery output, a setback in its bid to close ground on EV leader Tesla.

The average vehicle purchase in the quarter was almost $52,000. Officials say they have not seen signs of an economic slowdown despite still dealing with supply chain issues.

Earlier this month, the company announced sales of more than 555,000 vehicles in the third quarter.