General Motors' China business is hurting, and it's not just because of Covid
Publishing timestamp: 2023-03-17 13:20:01
Summary
General Motors is facing challenges in China, with its market share and earnings declining significantly. The company is losing ground to domestic automakers and struggling to compete in the electric vehicle market. Other American automakers like Ford and Stellantis are also experiencing downturns in sales in China. Meanwhile, Chinese brands are gaining market share and nationalistic pride is driving the preference for domestic vehicles.
Sentiment: NEGATIVE
Tickers: NIO, GM, 9866-HK, F, XPEV, BYDDY, 2015-HK, STLA, LI,
Keywords: general motors co, paul jacobson, li auto inc, ford motor co, detroit, transportation, geely automobile holdings ltd, mary barra, united states, autos, byd co ltd, breaking news: business, nio inc, china, stellantis nv, china hongqiao group ltd, business news, business, xpeng inc,
Source: https://www.cnbc.com/2023/03/17/general-motors-china-problems.html