The poor performance of GM's Chinese joint ventures has led to a $5 billion write-down and major restructuring charges, reflecting increased competition and market challenges.
General Motors is reducing the value of its equity stake in Chinese ventures by $2.6 to $2.9 billion due to a swing from profit to loss.
GM expects to post a net profit of up to $11.1 billion, despite significant losses from its ventures in China due to intensified competition.
CEO Mary Barra acknowledged the challenging market conditions in China, where local brands focus less on profitability and more on market share.
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