General Motors is closing a plant this month in the northeastern Chinese city of Shenyang as part of the U.S. automaker’s restructuring in China, according to a company source. This plant, GM Beisheng Automotive, primarily produced fuel-powered models such as the Buick GL8. In recent years, it has faced significant pressure due to the shrinking fuel vehicle market and declining sales of GM, with a 56.54% YoY drop in wholesale sales in 2024, marking the seventh consecutive year of decline. General Motors plans to incur over $5 billion in asset impairment and restructuring costs, including non-temporary impairment of its Chinese joint ventures and restructuring expenses for GM, aimed at closing some Chinese plants, reducing staff, and optimizing operational structures and product lines. Additionally, other GM factories, such as the Yantai Dongyue Plant and Wuhan Plant, are also rumored to face production line adjustments or asset disposals.