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Old 12-17-2024, 09:13 AM
poncho-mike poncho-mike is offline
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Join Date: Feb 2002
Location: Raleigh, NC
Posts: 2,186
Default GM's retreat from China

Copy/pasted from the article: Let's keep this non-politcal and out of the Clubhouse.

" It wasn’t long ago that China was by far the largest and most profitable market for General Motors (GM). While the company was hemorrhaging money in North America and Europe, and hurtling towards bankruptcy and a bailout, sales and profits from China allowed it to keep the lights on.

Now the opposite is true. GM is making record profits at home, but it’s losing enough money in China that there are questions about how much longer it can stay. At the same time, Chinese automakers have flooded their home market with exactly the sort of desirable electric vehicles that Chinese buyers want and American automakers once dismissed. "

If I remember correctly, one of the reasons GM kept Buick and got rid of Pontiac was because Buicks were very popular in China.

https://finance.yahoo.com/news/retre...rc=fp_deeplink

 


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