General Motors Company[1] (GM) is an American multinational corporation headquartered in Detroit that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services, with global headquarters in Detroit’s Renaissance Center. It was founded by William C. Durant on September 16, 1908, as a holding company, and the present entity was established in 2009 after its restructuring. The company is the largest American automobile manufacturer and one of the world’s largest automobile manufacturers.
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 number 18 on the Fortune 500 rankings of the largest United States corporations by total revenue.[7]
General Motors manufactures vehicles in several countries;[8] its four core automobile brands include Chevrolet, Buick, GMC, and Cadillac. It also either owns or holds a significant stake in foreign brands such as Wuling, Baojun, and Jiefang.[9] Annual worldwide sales volume reached a milestone of 10 million vehicles in 2016.[10][11][12]
In addition to its twelve brands, General Motors 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, General Motors India, General Motors Egypt, and Isuzu Truck South Africa. General Motors employs 212,000 people and does business in more than 140 countries.[2] General Motors is divided into four business segments: GM North America (GMNA), GM International Operations (GMIO), Cruise, and GM Financial.[13]:12, 13
The company also operates a mobility division called Maven, which operates car-sharing services in the United States, and is studying alternatives to individual vehicle ownership.[14]
GM Defense is General Motors’ military defense division, catering to the needs of the military for advanced technology and propulsion systems for military vehicles.[15]
General Motors led global annual vehicle sales for 77 consecutive years from 1931 through 2007, longer than any other automaker, and is still among the world’s largest automakers by vehicle unit sales.[16]
General Motors acts in most countries outside the U.S. via wholly owned subsidiaries, but operates in China through ten joint ventures.:18, 96[13] GM’s OnStar subsidiary provides vehicle safety, security and information services.[17]
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.[18]
Source: https://en.wikipedia.org/wiki/General_Motors
