GM cuts China jobs as it resets in world’s biggest car market

Quick Summary:

GM lost US$104 million on its Chinese business in the second quarter.

More troubled is the separate partnership between GM and SAIC, which builds US-branded vehicles locally that target the saturated middle of the market.

In the most recent quarter ended June 30, GM lost US$104 million (S$137.7 million) on its Chinese business, part of a first half loss totaling US$210 million.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChina

Topics: Including People Motors Vehicles China Saic Staff Million Partnership Chinese Sales

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-13 @ 10:22:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 654 words

Reading Time: 4 minutes read

Sentences: 32 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 22056372

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