GM Reports $210M Loss In China Joint Venture: 'The Headwinds Are Not Easy'
GM Reports $210M Loss In China Joint Venture: 'The Headwinds Are Not Easy'
General Motors Company's (NYSE:GM) joint venture with China's SAIC General Motors Corporation, has been a profitable business since it was formed in 1997 — until this year, that is.
通用汽車公司（NYSE:GM）與中國上汽通用汽車公司的合資公司自1997年成立以來一直是一項有利可圖的業務，直到今年。
The company lost $210 million during the first six months of this year, according to earnings reports — $106 million for the first quarter and $104 million for the second quarter.
根據業績，該公司今年前六個月虧損了2.1億美元，其中一季度虧損1.06億美元，二季度虧損1.04億美元。
General Motors said it's trying to restructure the venture with SAIC as a result of the continuing losses, CNBC reported.
CNBC報道，通用汽車稱正在嘗試重組與上汽的合資企業，以此來應對持續的虧損。
SAIC-GM operates seven plants in China that make vehicles under the Buick, Chevrolet and Cadillac brands for the Chinese consumer. Vehicle sales have fallen steadily over the years, from 2 million vehicles sold in 2017 to 1 million units sold in 2023, according to SAIC's website.
上汽通用汽車在中國經營着七家工廠，爲中國消費者生產別克、雪佛蘭和凱迪拉克品牌的汽車。根據上汽的網站，車輛銷量逐年下降，從2017年售出200萬輛汽車，到2023年售出100萬輛汽車。
Read Also: Warren Buffett Says General Motors Is 'A Huge Annuity And Health Insurance Company With A Major Auto Company Attached'
閱讀更多：華倫•巴菲特稱通用汽車是“一家有重大汽車企業附帶的大年金和健康保險公司”
In a second-quarter earnings call with analysts on Tuesday, GM CEO Mary Barra said SAIC-GM is taking steps to reduce its inventory and align production to falling market demand while also protecting pricing and lowering fixed costs.
在週二的二季度業績電話會議上，通用汽車CEO瑪麗·巴拉表示，上汽通用正在採取措施減少庫存，將生產線與市場需求下降相匹配，同時保護定價和降低固定成本。她在電話會議期間表示：“但很明顯，我們已經採取的措施雖然很重要，但還不夠。”
"But it's clear the steps we have taken, while significant, have not been enough," she said during the call.
“我們原本期望在二季度內回歸中國市場盈利。然而，我們報告了虧損，並且我們預計今年剩下的時間仍將充滿挑戰，因爲面臨的困難並不容易。”巴拉補充道。“我們正在與合資夥伴密切合作，重組業務，使其具有盈利和可持續性。”
"We had expected to return to profitability in China in the second quarter. However, we reported a loss and we expect the rest of the year will remain challenging, because the headwinds are not easy," Barra added. "We are working closely with our JV partner to restructure the business to make it profitable and sustainable."
通用汽車週二公佈了財政第二季度2024年同比增長7.2％，達到479.7億美元的銷售額，超過分析師對453億美元的共識預計。每股調整後的收益爲3.06美元，超過分析師預計的2.72美元。
On Tuesday, General Motors posted a fiscal second-quarter 2024 sales growth of 7.2% year-on-year to $47.97 billion, beating the analyst consensus estimate of $45.3 billion. Adjusted earnings per share of $3.06 exceeded the analyst estimate of $2.72.
股價表現：週二，通用汽車下跌6.42％，收於46.38美元。週三盤前交易中，下跌了1.38％至45.74美元。
Price Action: General Motors declined 6.42% on Tuesday to close at $46.38. It slipped 1.38% to $45.74 in Wednesday's premarket trading.
價格走向：通用汽車週二下跌了6.42％，收於46.38美元。週三盤前交易下跌1.38％至45.74美元。
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