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GM, China
GM expects more than $5 billion impact from China restructuring, including plant closures
General Motors expects a restructuring of its joint venture operations with SAIC Motor in China to cost more than $5 billion in noncash charges and write-downs.
GM sees $5 billion impact from restructuring in China
GM’s CEO Mary Barra told Fortune in October that China’s EV price war “has become a race to the bottom with pricing and the level of subsidies.” Barra explained that low-cost loans enable some companies to sell cars at a loss, which puts pressure on foreign automakers like GM.
GM to take $5 billion in charges for changes to China business
GM and other U.S. automakers are struggling in China amid increasing domestic competition and changing consumer behavior there.
GM to take more than $5 billion in charges on China operations
Charges linked to venture restructuring and its reduced value China division faces losses amid rivalry from domestic carmakers GM expects to absorb the financial impact in Q4 earnings DETROIT, Dec 4 (Reuters) - General Motors (GM.
GM Sees $5 Billion Hit to Revamp Its Troubled China Business
General Motors Co. will incur more than $5 billion in charges and writedowns tied to its troubled operations in China as the automaker tries to salvage its once-profitable business in the world’s largest car market.
General Motors is taking a $5 billion-plus hit on its operations in China
GM said it would write down the value of its joint venture with China's SAIC Motors by as much as $2.9 billion and incur restructuring charges.
General Motors to Take $5 Billion Charge on China Business
General Motors said it expects to incur more than $5 billion in impairment charges and writedowns in the fourth quarter related to its joint venture with China’s SAIC Motor.
General Motors writes off more than $5bn from value of China businesses
General Motors is to write off more than $5bn from the value of its businesses in China, as slowing demand in the country hits carmakers. In an announcement on Wednesday, GM said that there was a “material loss in value of our investments in certain of the China joint ventures .
1d
on MSN
GM’s Moment of Truth in China Has Arrived
It’s time for the automaker to seriously consider exiting its China business, Christopher S. Tang writes in a guest ...
17h
What’s good for China has been very bad for General Motors | Analysis
GM's profits and market share have tumbled, so much that, like other multinationals, the company's long-term presence in ...
4d
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 ...
4d
on MSN
Losses in China lead to $5 billion charge for General Motors as it cuts the value of its assets
The poor performance of General Motors’ Chinese joint ventures is forcing the company to write down assets and take a ...
4d
on MSN
GM China to take $5B hit; 'there will be no comeback story,' expert says
GM’s issues in China are no surprise to the automaker. The company lost $347 million in the region through Q3 of this year ...
4d
on MSN
GM warns Wall Street of a $5 billion hit it expects to take from losses in China
In a government filing Wednesday, General Motors indicated its investment in its operations in China have devalued by $5 ...
4d
GM Announces More Than $5 Bn Hit To Earnings In China Venture
General Motors announced Wednesday it will book more than $5 billion in losses and write-downs due to the restructuring of ...
GM Authority
2d
GM Sold More Than 1.4 Million Wuling MINI EV Units In China
SAIC-GM-Wuling sold its 1.4-millionth Wuling MINI EV unit in China in November 2024, maintaining its leadership in the new ...
4d
on MSN
GM Taking More Than $5B Hit on Joint Venture in China
General Motors said in a regulatory filing that it will incur more than $5 billion in non-cash charges and write-downs ...
9h
on MSN
Why GM’s $5 billion China gamble may not pay off
General Motors faces a $5 billion setback as it struggles to regain traction in the world's largest auto market.
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