GM announces more than $5 bn hit to earnings in China venture …C0NTINUE READING HERE >>>
General Motors CEO Mary Barra said in October the company would stick it out in China but that it planned to restructure.
Photo: Anna Moneymaker / GETTY IMAGES NORTH AMERICA/Getty Images via AFP/File
Source: AFP
General Motors announced Wednesday it will book more than $5 billion in losses and write-downs due to the restructuring of its China joint-venture.
Facing heavy competition in China that has forced automakers to cut retail prices, the SAIC General Motors Corporation is…
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