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China, General Motors
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 Takes $5 Billion Hit From Ailing China Business
The charge marks the latest example of how global automakers are struggling in China as local consumers embrace electric vehicles from homegrown brands.
General Motors says its China business is on a recovery path
General Motors said on Thursday its Chinese joint ventures have seen strong sales growth for a fifth straight month in November, with monthly deliveries
General Motors sees more than $5.3B in charges related to China business
Company owns an equity interest in SAIC General Motors Corporation Limited, or ‘SGM,’ a 50-50 joint venture with SAIC Motor Corp., and an equity interest in SAIC-GMAC Automotive Finance Company Limited.
General Motors China JV Woes Trigger Billions In Charges: Details
General Motors Company (NYSE:GM) shares are trading lower on Wednesday after the company concluded that a material impairment of its equity interest in SAIC General Motors Corporation Limited (SGM) is necessary.
General Motors to book $5 bil. charge on China operations
US automaker General Motors says it will take a 5 billion-dollar charge to restructure and write down the value of its China operations.
General Motors' restructuring operations in China may cause more than $5B in losses
Company's equity interest in joint venture in China expected to see decrease of around $2.6 - 2.9B - Anadolu Ajansı
GM takes $5 billion hit from struggling business in China
Automakers such as General Motors are beginning to fall behind as Chinese automakers stretch ahead in sales, appealing to consumers wanting EV and hybrid vehicles.
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 .
General Motors takes billion-dollar hit over losses in China
China has become an increasingly difficult market for foreign car makers, with BYD and other domestic companies raising their quality and cutting costs. The country is now also subsidising its own domestic car makers.
19h
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 ...
7h
‘Race to the bottom’: General Motors grapples with huge losses, uncertain future in China
In a country that not long ago counted Buick and Chevrolet as two of the most popular foreign brands, GM’s profits and market ...
2h
Bitcoin Crosses $100,000| GM-SAIC Joint Venture Reports $5BN In Losses In China| The World Report
Bitcoin has crossed the $100,000-mark for the first time on Thursday. According to data provider CoinGecko, the total value ...
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