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Losses in China lead to $5 billion charge for General Motors
Losses in China lead to $5B charge for General Motors as it cuts assets value
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 y
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 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.
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on MSN
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 ...
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 ...
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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 ...
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GM To Record About $5 Bln In Charges In Q4 Related To China JV Restructuring
General Motors Co. (GM) revealed in a Form 8-K filing with the Securities and Exchange Commission on Wednesday that it expects to ...
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General Motors Faces $5 Billion Hit Amid Struggles in Chinese Market
General Motors faces a $5 billion hit in China due to writedowns and restructuring. Learn how GM plans to navigate market ...
TechNode
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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 ...
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‘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 ...
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General Motors' China JV Woes Trigger Billions Of Charge: Details
GM shares down after recognizing $2.7 billion equity loss in China joint ventures. The company expects to record an other ...
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