U.S. automakers like GM are rapidly losing ground in China, once an engine for growth

Key Facts

• It comes after a nearly decade-long slide in profits and market share for GM in China that has some industry watchers questioning whether the automaker can turn around the operations, or if it would be better to exit the country – an unimaginable prospect just a few years ago.
• Barra, who visited China last week during an auto show in Beijing, said GM remains committed to the market, which the company entered through a joint venture in 1997.
• The comments came months after Barra told investors in February that “nothing is off the table in ensuring that GM has a strong future to generate the right profitability and the right return for our investors” in China.
• Other than the first quarter of this year, the only quarterly losses for GM in China since 2009 were a $167 million shortfall during the first quarter of 2020 due to the coronavirus pandemic and an $87 million loss during the second quarter of 2022.

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