General Motors Hits Costly $5 Billion Speed Bump Overseas

China was once the land of promise for Detroit automakers. With the country's booming middle class, and surging light-vehicle market, the companies could only see dollar signs. At first, automakers such as General Motors (GM 0.44%) thrived in China, and it became GM's largest market for sales volume for a time. However, the alarm bells have been ringing for some time, and now GM is making drastic changes, at a significant cost.Alarm bellsGeneral Motors' sales in China peaked in 2017 at 4 million vehicles, b ...