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Losses in China lead to $5B charge for 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 to record more than $5B in charges on China operations
General Motors (NYSE:GM) expects to record two non-cash charges of more than $5B on its joint venture in China, the automaker said in a regulatory filing on Wednesday. The Detroit automaker partners with SAIC Motors in China to build Buick,
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 restructuring charge totaling more than $5 billion in the fourth quarter of this year.
GM Authority
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Will SAIC-GM Survive Beyond 2027?
The SAIC-GM partnership began in the 1990s. Its deal expires in 2027, and it's unclear whether it will be renewed in the face ...
23h
General Motors Reports Material Impairments in China Ventures
General Motors Company (NYSE: GM) has recently disclosed in an 8-K filing with the Securities and Exchange Commission that its equity interest in SAIC General Motors Corporation Limited (SGM), a joint ...
1d
‘Race to the bottom’: General Motors grapples with huge losses, uncertain future in China
General Motors CEO Mary Barra has said that China’s crowded market is a “race to the bottom”. For GM, it’s a contest that’s ...
2d
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 ...
AutoGuide on MSN
2d
China Has Become A Liability For General Motors
General Motors is taking a hard look at its struggling Chinese operations, with plans to restructure its joint venture with ...
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