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China, GM
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 more than $5 billion in charges on China operations
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 More Than $5 Billion In Charges From China Joint Ventures
Restructuring and maintaining the SAIC-GM joint venture is costing GM billions this year as sales continue to decline against domestic competition.
GM Authority
12h
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 ...
2d
on MSN
GM Stock Falls on Chinese Write-Off. It’s a Warning for American Car Makers.
General Motors will take more than $5 billion in one-time charges in the fourth quarter related to a struggling Chinese joint ...
21h
GM to incur over $5bn in charges due to restructuring its Chinese JVs
The automotive giant revealed that it will reduce the value of its equity stakes in the ventures by $2.6bn to $2.9bn.
cbtnews
1d
GM takes $5B hit in restructuring China’s joint venture operations
GM is restructuring its joint venture operations with SAIC Motor Corp. in China, which will cost the automaker more than $5 ...
1d
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 ...
1d
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 ...
1d
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 ...
Supply Chain
2d
GM to Take a $5B Hit in Chinese Business
GM
has a 50-50 joint venture in China with
SAIC
Motor Corp. — Shanghai General Motors — which makes and sells Chevrolet, ...
1d
on MSN
GM sounds warning on troubled China market, the latest carmaker to do so
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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