General Motors

General Motors Company
FormerlyGeneral Motors Corporation
Company typePublic
ISINUS37045V1008
IndustryAutomotive
Founded
  • September 16, 1908 (1908-09-16)[1] (original company)
  • July 10, 2009 (2009-07-10) (present company)
Chair & CEOMary Barra
PresidentMark Reuss
Founders
HeadquartersRenaissance Center, ,
United States
Number of locations
396 facilities on six continents[2]
Area served
Worldwide
Key people
Products
Production output
Increase 6,186,000 vehicles (sales, 2023)[2]
Services
RevenueIncrease US$171.8 billion (2023)[2]
Decrease US$9.298 billion (2023)[2]
Decrease US$9.840 billion (2023)[2]
Total assetsIncrease US$273.1 billion (2023)[2]
Total equityDecrease US$68.19 billion (2023)[2]
Number of employees
163,000 (2023)[2]
Divisions
Subsidiaries
Websitegm.com

General Motors Company (GM)[2] is an American multinational automotive manufacturing company headquartered in Detroit, Michigan, United States.[3] The company is most known for owning and manufacturing four automobile brands, Chevrolet, GMC, Cadillac and Buick. By sales, it was the largest automaker in the United States in 2022, and was the largest in the world for 77 years before losing the top spot to Toyota in 2008.[4][5]

General Motors operates manufacturing plants in eight countries.[6] In addition to its four core brands, GM also holds interests in Chinese brands Baojun and Wuling via SAIC-GM-Wuling Automobile.[2] GM further owns the BrightDrop delivery vehicle manufacturer,[7] a namesake defense vehicles division which produces military vehicles for the United States government and military,[8] the vehicle safety, security, and information services provider OnStar,[9] the auto parts company ACDelco, a namesake financial lending service, and majority ownership in the self-driving cars enterprise Cruise LLC.

The company originated as a holding company for Buick established on September 16, 1908, by William C. Durant, the largest seller of horse-drawn vehicles at the time. The first half of the 20th century saw the company grow into an automotive behemoth through acquisitions; going into the second half, the company pursued innovation and new offerings to consumers as well as collaborations with NASA to develop the earliest electric vehicles.[10][11] The current entity was established in 2009 after the General Motors Chapter 11 reorganization.[12]

As of 2024, General Motors ranks 25th by total revenue out of all American companies on the Fortune 500 and 50th on the Fortune Global 500.[13][14] In 2023, the company was ranked 70th in the Forbes Global 2000.[15] In 2021, GM announced its intent to end production of vehicles using internal combustion engines by 2035, as part of its plan to achieve carbon neutrality by 2040.[16]

  1. ^ "Department of State, Division of Corporations (General Information Name Search)". Delaware.
  2. ^ a b c d e f g h i j "General Motors Company 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission. January 30, 2024.
  3. ^ "General Motors | History, Deals, & Facts". Britannica. Retrieved May 2, 2022.
  4. ^ Bunkley, Nick (January 21, 2009). "Toyota Ahead of G.M. in 2008 Sales". The New York Times.
  5. ^ "U.S. light vehicle market share by automotive manufacturers". Statista.
  6. ^ "Plants & Facilities". General Motors. Archived from the original on February 16, 2020.
  7. ^ "GM Starts BrightDrop Electric Delivery Van Production, Expands Lineup". Motor Trend. September 20, 2021.
  8. ^ Wayland, Michael (October 9, 2017). "General Motors establishing new military defense division". Automotive News. Archived from the original on October 9, 2020.
  9. ^ "Shanghai OnStar Announces Launch Date for Services in China" (Press release). Archived from the original on February 24, 2017.
  10. ^ "GM Heritage | General Motors". www.gm.com. Retrieved September 18, 2023.
  11. ^ "William Durant creates General Motors". HISTORY. Retrieved May 2, 2022.
  12. ^ Bigman, Dan. "How General Motors Was Really Saved: The Untold True Story Of The Most Important Bankruptcy In U.S. History". Forbes. Retrieved May 2, 2022.
  13. ^ "General Motors | 2023 Fortune Global 500". Fortune. Retrieved September 18, 2023.
  14. ^ "Fortune 500: General Motors". Archived from the original on January 14, 2023.
  15. ^ "The Global 2000 2023". Forbes. Archived from the original on January 29, 2024. Retrieved February 7, 2024.
  16. ^ Boudette, Neal E.; Davenport, Coral (January 28, 2021). "G.M. Will Sell Only Zero-Emission Vehicles by 2035". The New York Times.