General Motors

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.