General Motors Corp (GM)

Index:

S&P 100

$ 47.25
   
  • Change Today:
    $-0.42
  • 52 Week High: $60.20
  • 52 Week Low: $39.95
  • Currency: US Dollars
  • Shares Issued: 1,000.00m
  • Volume: 10,094,231
  • Market Cap: $47,250m
  • RiskGrade: 205
  • Beta: 0.88

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 2: RiskGrade figures are provided by RiskMetrics.

 

GM Market Data

Currency US Dollars
Share Price $ 47.25
Change Today $ -0.42
% Change -0.88 %
52 Week High $60.20
52 Week Low $39.95
Volume 10,094,231
Shares Issued 1,000.00m
Market Cap $47,250m
Beta 0.88
RiskGrade 205

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