GM records over $5 billion in non-cash charges due to struggling joint ventures in China.

General Motors (GM) will record over $5 billion in non-cash charges due to its struggling joint ventures in China. This includes a $2.6 billion to $2.9 billion write-down in the value of its equity stake and an additional $2.7 billion in restructuring charges. The charges reflect the company's efforts to address challenges in China's competitive market, where sales have dropped significantly due to increased competition from domestic manufacturers. Despite these charges, GM still expects to post a full-year net profit of $10.4 billion to $11.1 billion.

4 months ago
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