General Motors
General Motors Company is an American multinational corporation headquartered in Detroit. It was founded by William C. Durant on September 16, 1908, as a holding company. At its peak GM had a 50% market share in the United States and was the world’s largest automaker from 1931 through 2007. As of 2020, General Motors is ranked #18 on the Fortune 500 rankings of the largest United States corporations by total revenue.
About General Motors in brief
General Motors Company is an American multinational corporation headquartered in Detroit. It was founded by William C. Durant on September 16, 1908, as a holding company. At its peak GM had a 50% market share in the United States and was the world’s largest automaker from 1931 through 2007. As of 2020, General Motors is ranked #18 on the Fortune 500 rankings of the largest United States corporations by total revenue. General Motors employs 212,000 people and does business in more than 140 countries. The company also operates a mobility division called Maven, which operates car-sharing services in the U.S. and is studying alternatives to individual vehicle ownership. GM Defense is General Motors’ military defense division, catering to the needs of the military for advanced technology and propulsion systems for military vehicles. GM’s OnStar subsidiary provides vehicle safety, security and information services. In 2009 General Motors shed several brands, closing Saturn, Pontiac, and Hummer, and emerged from a government-backed Chapter 11 reorganization. In 2010, the reorganized GM made an initial public offering that was one of the world’s top five largest IPOs to date, and returned to profitability later that year. In 2012, GM announced that it would be closing Saturn and Pontiac for a total of $2.5 billion in cost-cutting measures. In 2013, the company announced it was closing Pontiac and Oldsmobile for $1.6 billion in costs.
In 2014, it announced it would close Pontiac. In 2015, it said it would cut Pontiac by $1 billion. In 2016, GM sold 10 million vehicles worldwide. Annual worldwide sales volume reached a milestone of 10m vehicles in 2016. In addition to its twelve brands, General GM holds a 20% stake in IMM, and a 77% stake in GM Korea. It also has a number of joint-ventures, including Shanghai GM, SAIC-GM-Wuling and FAW-GM in China, GM Uzbekistan, GeneralGM India, and General Motors Egypt, and Isuzu Truck South Africa. The four core automobile brands include Chevrolet, Buick, GMC, and Cadillac. The firm also either owns or holds a significant stake in foreign brands such as Holden, Wuling, Baojun, and Jiefang. Their industrial dominance was displayed as they manufactured products other than cars and trucks such as aircraft engines, tractors and tractors. “What’’S good for General Motors for America is good for America,” said Charlie Wilson, president of General Motors, Charlie Wilson said in 1962. In 1962 General Motors grew in prominence surpassing Ford Motors selling just over 50% of car sales in America. Only two years later, Alfred P. Sloan established the pricing strategy that all car companies use today. The pricing strategy also had also implemented the same pricing strategy for Chevrolet,Pontiac, Oldsmobiles, Cadillac and Buick from least expensive to most expensive.
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This page is based on the article General Motors published in Wikipedia (as of Dec. 09, 2020) and was automatically summarized using artificial intelligence.
