GM joins Ford in stopping vehicle exports to China
General Motors reportedly informed dealers on Thursday that it will stop US to China vehicle exports due to tariffs.
The move aligns GM with its Detroit rival, Ford, which halted Chinese exports last month.
Shares didn’t react significantly to the news, and that’s likely because it shouldn’t affect all that many cars. GM sold 1.8 million vehicles in China last year and, according to the company, just 0.1% of that sales volume came from US imports.
GM was one of the top-selling automakers in China for decades, but explosive growth by domestic car companies has sent it plummeting. Last year, it ranked 16th in sales in China.
Shares didn’t react significantly to the news, and that’s likely because it shouldn’t affect all that many cars. GM sold 1.8 million vehicles in China last year and, according to the company, just 0.1% of that sales volume came from US imports.
GM was one of the top-selling automakers in China for decades, but explosive growth by domestic car companies has sent it plummeting. Last year, it ranked 16th in sales in China.
