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 associated with its joint venture with SAIC Motor Corporation in China.
GM to take $5 billion hit over struggling China joint venture
General Motors (GM) is expected to take a $5 billion hit in non-cash charges over its joint-venture operation in China with SAIC Motor Corp. (600104.SS). Yahoo Finance senior autos reporter Pras Subramanian joins Catalysts to explain the situation,
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 Takes $5B Hit to Restructure Struggling China Ventures
GM reported a $347 million loss from these ventures between Jan. and Sept., compared with a $353 million profit during the same period in 2023.
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 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 .
GM Sees $5 Billion Hit to Restructure Troubled China Business
General Motors Co. will incur more than $5 billion in charges and writedowns tied to its troubled operations in China as the automaker tries to salvage its once-profitable business in the world’s largest car market.
GM is taking a $5 billion hit to fix up its struggling China business
General Motors (GM) is set to take a hit of more than $5 billion to fix up its joint venture business in China, the automaker said Wednesday.
GM Writes Down Chinese Joint Venture. It’s a Warning for American Car Makers.
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