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.
Read more at The Wall Street Journal
Topics
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G.M.’s Ailing China Business Will Deal It a $5 Billion Blow
General Motors and other foreign automakers are selling fewer cars and losing lots of money in China, where domestic electric and hybrid cars have taken off.The New York Times - 12h -
GM takes more than $5bn charge against China businesses
Move lays bare declining future in what was once the US carmaker’s largest marketFinancial Times - 7h -
GM expects more than $5 billion impact from China restructuring
General Motors expects a restructuring of its joint venture operations with SAIC Motor Corp. in China to cost more than $5 billion.NBC News - 11h -
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.CNBC - 7h
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