General Motors announced Tuesday that it would take a $7 billion charge due to tax reform and said it expects 2018 results to be comparable to the solid results of 2017.

GM said the charge on the accounting of tax deferred assets would be taken in the fourth quarter, joining other large companies announcing similar actions after US tax reform. It also said 2018 results would be "largely in line" with 2017 earnings, which were boosted by strong sales in North America and China.

Source: AFP