General Motors Company, commonly known as GM, is an American multinational corporation headquartered in Detroit, Michigan, that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services. With global headquarters at the Renaissance Center in Detroit, Michigan, United States, GM manufactures cars and trucks in 35 countries. In 2008, 8.35 million GM cars and trucks were sold globally under various brands. 10 million cars sold milestone was exceeded on 2016. Current auto brands are Buick, Cadillac, Chevrolet, GMC, Holden, and Wuling. Former GM automotive brands include McLaughlin, Oakland, Oldsmobile, Pontiac, Hummer, Saab, Saturn, Vauxhall, and Opel.
The company was founded by William C. Durant on September 16, 1908 as a holding company. The company was the largest automobile manufacturer from 1931 through 2007.
In addition to brands selling assembled vehicles, GM has also had various automotive-component and non-automotive brands, many of which it divested in the 1980s through 2000s. These have included Euclid and Terex (earthmoving/construction/mining equipment & vehicles); Electro-Motive Diesel (locomotive, marine, and industrial diesel engines); Detroit Diesel (automotive and industrial diesel engines); Allison (Aircraft engines,transmissions, gas turbine engines); Frigidaire (Appliances including refrigeration and air conditioning); New Departure (bearings); Delco Electronics and ACDelco (electrical and electronic components); GMAC (finance); General Aviation and North American Aviation (airplanes); GM Defense (military vehicles); and Electronic Data Systems (information technology).
General Motors produces vehicles in 37 countries under twelve brands: Chevrolet, Buick, GMC, Cadillac, Holden, HSV, Opel, Vauxhall, Wuling, Baojun, Jie Fang, and Ravon.
The current company, General Motors Company ("new GM"), was formed in 2009 following the bankruptcy of General Motors Corporation ("old GM"), which became Motors Liquidation Company. The new company purchased the majority of the assets of the old GM, including the brand "General Motors".
In addition to its twelve brands, General Motors also holds a 20% stake in IMM, and a 77% stake in GM Korea. It also has a number of joint-ventures, including Shanghai GM, SAIC-GM-Wuling and FAW-GM in China, GM-AvtoVAZ in Russia, Ghandhara Industries in Pakistan, GM Uzbekistan, General Motors India, General Motors Egypt, and Isuzu Truck South Africa. General Motors employs 212,000 people and does business in more than 140 countries. General Motors is divided into five business segments: GM North America (GMNA), Opel Group, GM International Operations (GMIO), GM South America (GMSA), and GM Financial.
General Motors led global vehicle sales for 77 consecutive years from 1931 through 2007, longer than any other automaker, and in 2012 was among the world's largest automakers by vehicle unit sales.
General Motors acts in most countries outside the U.S. via wholly owned subsidiaries, but operates in China through 10 joint ventures. GM's OnStar subsidiary provides vehicle safety, security and information services.
In 2009, General Motors shed several brands, closing Saturn, Pontiac, and Hummer, and emerged from a government-backed Chapter 11 reorganization. In 2010, the reorganized GM made an initial public offering that was one of the world's top five largest IPOs to date, and returned to profitability later that year.