General Motors
General Motors which is also known by it’s short name of GM is an American based automobile manufacturer and the main rival of Ford Motor Company. It like Ford is based in Detroit Michigan. It was founded in 1908 and it now hires over 320,000 employees and turns over almost $200 billion dollars a year but it currently in a bit of financial trouble. In 2005, it shed over 25,000 employees.
General Motors sells its automobiles and trucks to over 30 countries world wide and in 2005 it sold over 9 million units. It owns some of the most recognized brands in the auto market today including Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Hummer, Opel, Pontiac, Saab, Saturn and Vauxhall. General motors largest market is of course the United States, but China is catching up quickly.
General Motors passed the sales figures of those of the legendary Ford Motor Company in the early 20’s with it’s more innovative designs and customer friendly approach to sales. General Motors was one of the first companies to offer financing and monthly payments to pay for their cars. Ford decided not to do this for a long time and General Motors passed then in sales.
In 2000 it was confirmed that General Motors is the largest producer of cars in the world with the highest sales figures of any automobile manufacturer in the world through it’s many brand name cars.
General Motors took steps to produce the first hybrid car and it did so in 2004 with the first ever commercially built hybrid passenger car. They are now releasing a new hybrid car in 2006, the 2006 Saturn VUE Green Line.
General Motors is also the largest seller of automobiles in the largest market on Earth, China. It has a 12% market share and it has opened a plant there to solely make cars for the Chinese and Asian markets.