GM Loss in Q1

News from GM says it burned through $10.2 billion in the first quarter. The net loss reached $6 billion. Revenue dropped by almost half to $22.4 billion as sales plunged in North America, Europe, Asia and Latin America. Excluding $73 million of one-time net charges, GM posted a loss of $9.66 per share. That was within the wide range of analysts' expectations.

 

The automaker said recently that it had not yet reached the deal it needs with the UAW. It also said the Treasury had not yet agreed to convert half of the loans it has extended to GM into stock in a restructured company.

Related China Bus News

• BYD Delivers 100 Units of 12-Meter Electric Buses to Uruguayan Operator CUTCSA 09-26
• Ankai Bus: High Standards Escort World-Class Event 09-26
• Zhongtong H12 High-end Tourist Bus Officially Delivered to Jilin 09-25
• Ankai Empowers Smart Mobility with Innovative Technology 09-24
• Visiting Invitation: China Buses Expo 2024 in Shanghai China 09-20
• Foton eVIEW GRAND World Debut in Saudi Arabia 09-20
• Higer Bus Shines at the IAA Transportation 2024 in Hannover 09-19
• Zhongtong H13E Debuts at the 2024 IAA Transportation in Hannover 09-19
• First Appearance of Higer Bus at the IAA TRANSPORTATION 09-14
• Consul General of Australia in Shanghai Visits Bonluck Bus Company 09-14
• Shudu Bus Delivers 100 Buses to Nigeria 09-14