GM 2Q profits plunge 42% on overseas restrurcturing costs
Net income for General Motors (GM), the biggest US auto maker was $1.7 billion, down 42 percent from the year-ago period (AFP Photo/STAN HONDA)/ New York (AFP) - General Motors saw profits plunge in the second quarter after it took a hit from the cost of shuttering less profitable overseas operations, and the rest of the year looks challenging, the company said Tuesday. As car sales dipped in the cooling North American market, net income for the biggest US auto maker dropped 42 percent from the same period of 2016 to $1.7 billion, while ...
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