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General
Motors Corporation, also known as
GM, is the world's largest car manufacturer.
Founded in 1908, GM today employs
about 326,999 people around the
world. With global headquarters
at the Renaissance Center in Detroit,
Michigan, USA, GM manufactures its
cars and trucks in 33 countries.
In 2005, 9.17 million GM cars and
trucks were sold globally under
the following brands: Buick, Cadillac,
Chevrolet, GMC, Daewoo (now sold
under the Chevrolet and Suzuki brands
in the United States, Europe and
in some other countries), Holden,
Hummer, Oldsmobile (now defunct),
Opel, Pontiac, Saab, Saturn, Vauxhall.
GM operates a finance company, GMAC
Financial Services, which offers
automotive, residential and commercial
financing and insurance. GM's OnStar
subsidiary is a vehicle safety,
security and information service
provider.
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GM
is the majority shareholder in GM Daewoo
Auto & Technology Co. of South Korea,
and has product, powertrain and purchasing
collaborations with Suzuki Motor Corp.
and Isuzu Motors Ltd. of Japan. GM also
has advanced technology collaborations
with Toyota Motor Corporation of Japan,
DaimlerChrysler AG and BMW AG of Germany,
and vehicle manufacturing ventures with
several automakers around the world, including
Toyota, Suzuki, Shanghai Automotive Industry
Corporation of China, AutoVAZ and Avtotor
of Russia and Renault SA of France.
GM
Parts and accessories are sold under the
GM, GM Performance Parts, GM Goodwrench
and ACDelco brands through GM Service
and Parts Operations, which supplies GM
dealerships and distributors worldwide.
GM engines and transmissions are marketed
through GM Powertrain. GM's largest national
market is the United States, followed
by China, Canada, the United Kingdom,
and Germany.
General
Motors was founded in 1908 in Flint, Michigan,
as a holding company for Buick, then controlled
by William C. Durant, and acquired Oldsmobile
later that year. The next year, Durant
brought in Cadillac, Elmore, Oakland and
several others. In 1909, General Motors
acquired the Rapid Motor Vehicle Company
of Pontiac, Michigan, the predecessor
of GMC Truck. A Rapid became the first
truck to conquer Pikes Peak in 1909. Durant
lost control of GM in 1910 to the company's
bankers, because of the large amount of
debt taken on in its acquisitions.
Durant
left the firm and helped establish the
Chevrolet Motor Company in 1912 with
brothers Gaston and Louis Chevrolet.
He returned to head GM in 1915, with
financing by Pierre S. du Pont. Chevrolet
entered the General Motors fold in 1916.
Du Pont removed Durant from management
in 1920, and various Du Pont interests
held large or controlling share holdings
until about 1950.
GM
surpassed Ford Motor Company in the 1920s
thanks to the leadership of Alfred Sloan.
While Ford continued to refine the manufacturing
process to reduce cost, Sloan was inventing
new ways of managing a complex worldwide
organization, while paying special attention
to consumer demands. Car buyers no longer
wanted the cheapest and most basic model;
they wanted style, power, and prestige,
which GM offered them. Thanks to consumer
financing, easy monthly payments allowed
far more people to buy GM cars, while
Ford was moralistically opposed to credit.
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