GM Full-year earnings forecast revised downward Impact of 40-day strike October 30 5:59

GM General Motors, a major American automaker, posted three-month results up to last month due to lower sales and profits due to the impact of a strike that lasted for 40 days. GM also revised its full-year earnings forecast downward. did.

According to the announcement by GM on the 29th, sales from July to September were $ 35.4 billion, ¥ 3.8 trillion in Japanese yen, a 0.9% decrease from the same period of the previous year. did.

Profits during the period were $ 2.3 billion, more than ¥ 240 billion, down 8.7%.

This was mainly due to the fact that the factory was shut down for 40 days from the 15th of last month to the last week, and the North American market grew, but sales in China, which continued to struggle, decreased by 17%.

The impact of the strike GM expects a loss of $ 1 billion during the current fiscal year, approximately $ 2.9 billion for the full year, and over ¥ 300 billion in the Japanese yen. The forecast has also been revised downward.

In the announcement of financial results, Mary Barra, CEO, commented, “I think the new labor-management agreement will maintain GM's high competitiveness and will focus on further business enhancements in the future.” It is.