General Motors (GM) is one of the world’s🌎 largest automobile manufacturing companies.
It is based in Detroit, U.S.A.
Its plants🏭 and distribution centres are located in about 40 countries apart from the U.S.
The company is also engaged in financial services💵.
Early History
GM was founded by William C. Durant in 1908🗓.
In the next few years, GM 💪acquired several other auto companies.
In 1929, it overtook Ford Motors to become America’s leading passenger-car🚗 manufacturer.
It then became and remained world’s largest✌ motor-vehicle manufacturer for much of the 20th and early 21st centuries.
Prized Portfolio
GM owns😎 some of the world’s top automobile brands including Chevrolet, Buick, GMC and Cadillac.
It also either owns or holds☝ a significant stake in many other foreign brands.
Bankruptcy and Revival
During the 2008 economic recession📉, GM; like many other auto companies faced a severe financial crisis and filed for bankruptcy.
The U.S govt. came to its help by bailing it out with a $50 billion package💰.
Soon, GM restructured itself🔁 and became an altogether new company.
Under a new strategy it shut down🚫 some of its brands, such as Pontiac, Saturn and Hummer.
It returned to profitability☺ later that year.
In 2016, the company achieved a new milestone✊ by posting annual worldwide sales of 10 million vehicles.
Mighty Figures
Presently, GM employs about 1.8 lakh people👷🏻♂.
In 2018, it produced 8.3 million vehicles🚚 and its revenue for 2018 was $147 billion.
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