GM is struggling so much in China, it had to announce massive charges to fix its business
China, once GM’s largest and most important market, has become its biggest problem. General Motors told shareholders on Wednesday that it would record two non-cash charges totaling more than $5 billion on its joint venture in China, one related to the restructuring of the operation and another reflecting its reduced value.
GM to take $5 billion hit over struggling China joint venture
General Motors (GM) is expected to take a $5 billion hit in non-cash charges over its joint-venture operation in China with SAIC Motor Corp. (600104.SS). Yahoo Finance senior autos reporter Pras Subramanian joins Catalysts to explain the situation,
General Motors expects a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 ...
In a government filing Wednesday, General Motors indicated its investment in its operations in China have devalued by $5 ...
General Motors Co.’s stock slid 2.9% early Wednesday as the auto giant’s joint-venture in China booked more than $5 billion ...
General Motors said in a regulatory filing that it will incur more than $5 billion in non-cash charges and write-downs ...
GM’s issues in China are no surprise to the automaker. The company lost $347 million in the region through Q3 of this year ...
The poor performance of General Motors’ Chinese joint ventures is forcing the company to write down assets and take a ...
Auto giant General Motors warned in government filings on Wednesday that it will take a $5 billion hit in the fourth quarter ...
Automaker General Motors (GM) expects to take over $5 billion in non-cash charges on its joint-venture operations in China ...
General Motors Co.’s stock slid 2.9% early Wednesday as the auto giant’s joint-venture in China booked more than $5 billion ...
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