GM and other U.S. automakers are struggling in China amid increasing domestic competition and changing consumer behavior there.
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GM to take $5 billion in charges for changes to China 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.
China is better prepared for Trump’s second term and will ‘fight back wherever possible’: Former PLA officer
Zhou Bo of Tsinghua University, also Former Senior Colonel (Ret.) of China’s PLA discusses China’s opinion of a second Trump term.
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.
China retaliation for US protectionism, while ‘never a good choice’, may be just starting
An expected escalation of the US-China trade war, and the Chinese public’s demand for a response, could light a fire under Beijing’s policymakers, former PBOC head says.
Chinese official encourages US financial institutions to deepen cooperation with China
China welcomes more US financial institutions and long-term capital to continue deepening mutually beneficial cooperation with China, Vice Premier He Lifeng said on Wednesday. He, also a member of the …
The US-China Trade War Will Be More Disruptive This Time
Global markets could turn volatile as investors realize there are no winners from a trade war between the two largest economies that is more disruptive than before.
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 …
China sends warning to Biden and Trump with gallium and germanium export ban against US
China declared an export ban on these metals to the US, a retaliatory action following US President Joe Biden’s administration’s introduction of new technology restrictions targeting China.
China tops 1B 5G network subs
China likely breached the 1 billion 5G milestone in November after operators collectively reaching 995 million subscribers at end-October.
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…
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