General Motors Corp (GM)

Index:

S&P 100

$ 58.38
   
  • Change Today:
    $1.04
  • 52 Week High: $61.34
  • 52 Week Low: $42.48
  • Currency: US Dollars
  • Shares Issued: 1,000.00m
  • Volume: 7,956,170
  • Market Cap: $58,380m
  • RiskGrade: 205
  • Beta: 0.85

GM takes $5bn loss on Chinese business

By Iain Gilbert

Date: Wednesday 04 Dec 2024

LONDON (ShareCast) - (Sharecast News) - US automotive giant General Motors' Chinese business has taken a $5.0bn charge amid an ongoing slowdown in what was once its largest market.
GM said on Wednesday that it had experienced a "material loss in value" to its investments in certain China joint ventures.

As a result, the Detroit-based firm stated that it will now write down the value of its interest in its Chinese JVs by as much as $2.9bn. It will also record an additional $2.7bn in restructuring charges.

As of 1330 GMT, GM shares were down 0.99% at $53.13 each.









Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

GM Market Data

Currency US Dollars
Share Price $ 58.38
Change Today $ 1.04
% Change 1.81 %
52 Week High $61.34
52 Week Low $42.48
Volume 7,956,170
Shares Issued 1,000.00m
Market Cap $58,380m
Beta 0.85
RiskGrade 205

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