General Motors Company : The World's Largest Automaker

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General Motors Company was founded as a holding company to consolidate several different motor companies producing Buick, Oldsmobile, Cadillac, Oakland and more in 1908 by William C. Durant. In 1912 they came out with an electric self-starter making the hand crank obsolete. In 1920 Durant was forced out of the company and Alfred P. Sloan Jr took over as president. Sloan reorganized the company into 5 main divisions Cadillac, Buick, Pontiac, Oldsmobile, and Chevrolet. In 1929 GM surpassed Ford to become the leading American passenger-car manufacturer and in 1941 they were the world’s largest manufacturer of motor vehicles. In 1997 GM suffered heavy losses and had to close many plants, then in 2004 they discontinued the Oldsmobile brand. In 2008 Toyota surpassed GM and was named the world’s largest automaker. At the end of 2008 the auto companies were in trouble and president Bush announced the bail-out of ‘The Big Three” automakers – Chrysler, General Motors, and Ford. GM filed bankruptcy in June of 2009, reorganized and emerged from bankruptcy a month later. They discontinued the Saturn and Pontiac brands in 2010, this left GM with only four divisions: Buick, Cadillac, Chevrolet, and GMC. In 2010 GM rejoined the stock market and a year later were renamed the largest automaker in the world. In 2015 GM was the third in auto sales behind Toyota and Volkswagen. GM produced 9,714,000 vehicles last year in their 400 factories around the world. The US, China, Brazil, United

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