GM and other U.S. automakers are struggling in China amid increasing domestic competition and changing consumer behavior there.
BUSINESS
General Motors to Take $5 Billion Charge on 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.
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.
GM signals more trouble for China’s auto market with $5 billion-plus in impairment charges and write-downs
General Motors Co.’s stock slid 2.9% early Wednesday as the auto giant’s joint-venture in China booked more than $5 billion in impairment charges and write-downs in the face of competitive price wars in that market.
Tesla EV sales plummet in Australia as China brands grow
Tesla’s Australian electric vehicle sales remain in free fall after November became the eighth-straight month of year-on-year sales decline for Elon Musk’s autogiant amid a growing wave of competition …
GM is struggling so much in China, it had to announce massive charges to fix its business
China, once GM’s largest and most important market, has become its biggest problem. General Motors told shareholders on Wednesday that it would record two non-cash charges totaling more than $5 billion on its joint venture…
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 …
Losses in China lead to $5 billion charge for General Motors as it cuts the value of its assets
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 …
European Business Groups’ Surveys Find Rising China Challenges
British and German firms in China are having a tougher time doing business and worry about the outlook for next year, according to two new surveys.
Bybit crypto exchange says mainland Chinese can trade through VPN, but not with yuan
Bybit CEO Ben Zhou says the company plans to reapply for a Hong Kong licence next year even though regulators bar selling crypto to mainlanders.
Before DOGE, Ramaswamy spent years attacking Musk for ties to China
Vivek Ramaswamy, the co-chair of the proposed Department of Government Efficiency alongside billionaire Elon Musk, has a lengthy history of attacking his partner’s ties to China, frequently referring …
China’s services activity expansion dampened by ‘trade environment’ concerns: Caixin PMI
Caixin/S&P Global services purchasing managers’ index aligned with the official gauge, which also showed China’s non-manufacturing activity weakened last month.
Australia’s Lynas near 3-week high after China bans export of critical minerals to US
Shares of Australia’s Lynas Rare Earths climbed to a near three-week high on Wednesday, a day after China banned exports of some critical mineral to the United States.
