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General Motors was founded in 1908 by William "Billy" Durant, who had started out as a manufacturer of horse-drawn vehicles. General Motors history is vast, it started out as an investment firm and holding company for Buick. About 209,000 people work for it. In 1904 he assumed control of the… The company’s handling of the scandal—which was overseen by Mary Barra, GM’s first female CEO—was widely praised, and GM posted strong earnings, with record sales in 2014–16. GM was first incorporated on September 16, 1908, and within a few years would include familiar names such as Oldsmobile, Cadillac, and Oakland, which eventually became Pontiac. Electrification. Our editors will review what you’ve submitted and determine whether to revise the article. GM introduced the electric self-starter commercially in its 1912 Cadillac, and this invention soon made the hand crank obsolete. As its financial troubles mounted—the company claimed to be some $173 billion in debt—GM filed for Chapter 11 bankruptcy protection in June 2009. On January 4, 1996, General Motors announces at the Greater Los Angeles Auto Show it will build an electric car, dubbed the EV1, to be launched in the fall of that year. General Motors became the sole owner of Saab Automobile AB in 2000. In 2006 GM sold a 51 percent stake in GMAC to Cerberus Capital Management, and GMAC was later renamed Ally Financial. GM's design studio was headed by Harley Earl until his retirement in 1959. GENERAL MOTORS COMPANY : Financial news and information Stock GENERAL MOTORS COMPANY | Nyse: GM | Nyse William Crapo "Billy" Durant was the company owner at the time. It makes cars and trucks in 31 countries. View daily, weekly or monthly format back to when General Motors Company stock was issued. We already checked more than 32 General Motors vehicles. Acquires Cadillac for … Let us know if you have suggestions to improve this article (requires login). TIMELINE: Key dates in General Motors' history. General Motors (GM) was formed in 1908 as a holding company for Buick. The Yellow Truck & Coach Manufacturing Co. (now GMC Truck & Coach Division), organized in 1925, was among the new American divisions and subsidiaries established. Photograph: Car Culture/Getty Images. It is the second largest car company in the world, after Toyota. General Motors Company is the largest American car company. As General Motors Corp. prepares to celebrate its 100th anniversary, some key events in the giant automaker's history:Sept. 16, 1908 - General Motors Company founded by … It emerged from bankruptcy reorganization the following month. Courtesy of Rolls Royce Heritage Trust – Allison Branch Archival Collection. The plan made immediately available $13.4 billion in government loans from the Troubled Assets Relief Program (TARP), a $700 billion fund approved by Congress to aid the financial industry following the subprime mortgage crisis. Bonsal, Thomas E. “Pontiac, The Complete History 1926-1986." GM Helps Professionals Flourish in Their Second Act. General Motors Corporation (GM), which ultimately became the world’s largest automotive firm and the largest privately owned manufacturing enterprise in the world, was founded in 1908 by William C. Durant, a carriage manufacturer of Flint, Michigan. To decode and get lookup of General Motors VIN history check enter it here: Decode . Everybody in. George W. Bush announced an emergency financial rescue plan to aid the “Big Three” automakers—Chrysler LLC, General Motors, and Ford—to prevent the collapse of the country’s struggling auto industry. But it declined in the 1980s and 1990s, and in 2009 it was bailed out and went bankrupt. General Motors Corporation. By signing up for this email, you are agreeing to news, offers, and information from Encyclopaedia Britannica. The new GM logo introduced in 2021 (General Motors) Bibliography . By Reuters Staff. In addition, GMAC’s mortgage and real estate units were subsequently sold. GMAC had been founded in 1919 to finance and insure the installment sales of GM products and had later expanded into other businesses. A long history of the company is associated with Egypt when the company began assembling the cars there in 1920s. Sloan reorganized GM from a sprawling, uncoordinated collection of business units into a single enterprise consisting of five main automotive divisions—Cadillac, Buick, Pontiac, Oldsmobile, and Chevrolet—the activities of which were coordinated by a central corporate office equipped with large advisory and financial staffs. Founded in 1908, GM rose to dominate the US auto industry. During the second world war, GM supplied the allies with more than $12bn of materials including airplanes, lorries and tanks. In 1971, GM pioneered the use of engines that could run on low-lead or unleaded petrol. Our Progress in Sustainable Natural Rubber. Omissions? History of General Motors The beginnings of GM go hand-in-hand with the rise of American industry. The money was initially made available to General Motors and Chrysler; Ford claimed to possess adequate funds to continue operations and thus did not apply for government relief. General Motors is 110 years old. It is based in the Renaissance Center in Detroit, Michigan. The name GMC celebrates a milestone anniversary in 2012, 100 years after the Rapid Motor Vehicle Company and the Reliance Motor Company became part of General Motors. General Motors was founded in 1908 by William "Billy" Durant, who had started out as a manufacturer of horse-drawn vehicles. Shortly thereafter it would be loaded onto a flatbed parade float and towed through downtown Flint. The headquarters of General Motors, Detroit. Two years later it was the first to offer a car with an air bag and in 1974, it introduced the catalytic converter to reduce emissions. As environmental concerns increasingly came to the fore, GM started producing more fuel-efficient petrol engines as well as biofuels and hybrids. All manufacturers apply a unique Vehicle Identification Number for each vehicle. In conclusion, General Motors recently changed its logo. In 1995, annual vehicle sales outside North America exceeded 3m units for the first time, while 5m vehicles were sold in the US and GM embarked on its first joint venture in China. 6 Min Read (Reuters) - The following are key events in General Motor’s history, … Learn about GM and our vision for tomorrow. In 1940, former GM president William Knudsen was appointed by President Roosevelt as chairman of the new wartime Office of Production Management. During the 1930s, Allison Engineering Co. focused its efforts on developing a 1,000 horsepower liquid-cooled aircraft engine in the Speedway area. It was co-founded by two purveyors of horse-drawn carriage manufacturers and quickly acquired a number of auto brands. General Motors grew along with the American economy in the 1950s and ’60s and continued to hold 40–45 percent of total U.S. automotive sales. When the company was originally founded, GM only controlled the Buick make, but quickly grew to own over 20 companies, including Oakland (which eventually became Pontiac), Oldsmobile and Cadillac. We stand together to drive the world forward. The company’s major products include automobiles and trucks, automotive components, and engines, and it is also engaged in financial services. The General Motors car plant in Oshawa, Ont. The General Motors Heritage Center serves as a showplace for the vehicles of the GM Heritage Collection, as a corporate conferencing and special events venue, and as the permanent home for the corporation’s collection of historic literature and artifacts which document GM’s rich history of innovation. The following year GM regained its title as the largest automaker in the world. General Motors Corporation Appropriation Request to Purchase Allison Engineering Company. Our goal is to deliver world-class customer experiences at every touchpoint and do so on a foundation of trust and transparency. That buy-out of 30 other companies came to an end in 1910. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. General Motors works in many parts of Asia like China, India, Indonesia, etc. At approximately 10 a.m. on this day in 1954, Chevrolet General Manager Thomas Keating drove a gold plated 1955 Chevrolet Bel Air Sport Coupe off a Flint, Michigan assembly line. Four years later GM was surpassed by Toyota Motor Corporation as the world’s largest automaker. However, GM’s strong rebound faced a setback in 2014, when it was revealed that for about a decade the company had covered up the fact that several car models had faulty ignition switches; it was believed that the defective part had caused more than 120 deaths. General Motors is committed to leading the way toward a future of zero crashes, zero emissions and zero congestion. Please select which sections you would like to print: While every effort has been made to follow citation style rules, there may be some discrepancies. General Motors got its start in Flint, Michigan and was officially formed on September 16, 1908. A Brief History Of General Motors Corp. Ring in the new year with a Britannica Membership, This article was most recently revised and updated by, https://www.britannica.com/topic/General-Motors-Corporation, Detroit Historical Society - General Motors, General Motors Corporation - Student Encyclopedia (Ages 11 and up). Early GMC trucks were actually re-badged vehicles built by both companies. More Vintage GMC Trucks Please refer to the appropriate style manual or other sources if you have any questions. While GM’s modernization efforts showed some success, heavy losses in the early 1990s forced the company to close many plants and reduce its workforce by tens of thousands. It added overseas operations, including Vauxhall of England in 1925, Adam Opel of Germany in 1929, and Holden of Australia in 1931. Get a Britannica Premium subscription and gain access to exclusive content. By 1929 General Motors had surpassed the Ford Motor Company to become the leading American passenger-car manufacturer. It operates manufacturing and assembly plants and distribution centres throughout the United States, Canada, and many other countries. A 1958 Cadillac. General Motors. 1909 Rapid Model F six-passenger truck. The new logo is only its fifth major redesign since the automaker was founded more than 110 years ago. Sloan also greatly strengthened GM’s sales organization, pioneered annual style changes in car models, and introduced innovations in consumer financing. An additional stipulation required the companies to undergo restructuring. Along with other U.S. automobile manufacturers, the company faced increasingly severe competition from Japanese automakers in the 1970s and ’80s, and in 1984 GM began a new automotive division, Saturn, that used highly automated plants to produce subcompact cars to compete with Japanese imports. GM initially only owned … In the 1980s, GM opened a new complex in Zaragoza, Spain, which began manufacturing the Opel Corsa. In 2010 the company officially discontinued both the Pontiac and Saturn brands and sold Saab. It sold Electronic Data Systems in 1996, and in 1997 it sold the defense units of its Hughes Electronics subsidiary to the Raytheon Company, thus leaving the computer-services and defense-aerospace fields in order to concentrate on its automotive businesses. General Motors (ou General Motors Corporation ou GM) est un constructeur automobile américain basé à Détroit dans le Michigan, aux États-Unis, qui contrôlait encore une quinzaine de marques à la fin des années 1990. It was the largest industrial bankruptcy in history. By 1942, all of GM's production was in support of the war effort. On June 1, 2009 General Motors filed for bankruptcy in New York, with $82 billion in assets and $173 billion in liabilities. It bought Electronic Data Systems Corporation, a large data-processing company, in 1984 and acquired the Hughes Aircraft Company, a maker of weapons systems and communications satellites, in 1986. The 1949 Buick Roadmaster, the Chevrolet Corvette and BelAir and the 1959 Cadillac El Dorado helped set the tone for automotive styling through the Fabulous Fifties, the golden age of car design. Durant was forced out of the company in 1920 and was succeeded by Alfred P. Sloan, Jr., who served as president (1923–37) and then as chairman of the board of directors (1937–56). After the war, the company developed independent front-wheel suspension, unibody construction and the one-piece steel roof. Corrections? The Chamber of Commerce was not far off the mark. The various operating divisions retained a substantial degree of autonomy within a framework of overall policy; this decentralized concept of management became a model for large-scale industrial enterprises in the United States. The Chevrolet auto company and Delco Products joined GM in 1918, and the Fisher Body Company and Frigidaire joined in 1919 (the latter was sold in 1979). The firm also added Saab and Hummer to its stable. In 2004, however, it discontinued the Oldsmobile brand. General Motors (Chevrolet) from 1933 showing car manufacturing and how the cars and the parts needed were made. General Motors Donates Its First Self-Driving Car to History Museum. It was founded in 1908 by a man named Billy Durant. In 1931 GM became the world’s largest manufacturer of motor vehicles. 1909 - GM sells 25,000 cars and trucks. The move, which was valued at more than $2 billion, was seen as effectively ending GM’s European operations. During this time GM also sought to decrease its financial service holdings through various deals concerning General Motors Acceptance Corporation (GMAC) and its related divisions. General Motors runs under the brand name Holden in New Zealand and Australia. About Us. GM remained based in Detroit and was reincorporated and named General Motors Corporation in 1916. General Motors (GM), in full General Motors Company, formerly General Motors Corporation, American corporation that was the world’s largest motor-vehicle manufacturer for much of the 20th and early 21st centuries. In December 2008 Pres. Scarcely 10 years old in 1919, General Motors was initially just a holding company. Discover historical prices for GM stock on Yahoo Finance. Articles from Britannica Encyclopedias for elementary and high school students. GM executive Mary Barra at the 2012 Detroit auto show. During the company's early years, Durant went on a shopping spree for automobile manufacturers. General Motors (GM), one of the world’s largest automobile manufacturers, was founded in 1908. has been a staple of North America auto manufacturing for decades. However, its European division continued to struggle, and in 2017 GM sold Opel and Vauxhall to the PSA Group, the French manufacturer of Peugeot and Citroën automobiles. At the start of the 20th century, there were fewer than 8,000 cars in the US, many of them powered by steam or electricity, while others had petrol engines. The loans would allow the auto companies to continue operating through March 2009, by which time the plan required them to demonstrate “financial viability” or return the money within 30 days. Some key events in General Motors' history: Sept. 16, 1908 - General Motors Company founded by William C. Durant, incorporating Buick Motor Co. Oldsmobile joins GM in November. By the early 21st century GM had equity shares in a number of car companies, including Fiat, Isuzu, Fuji Heavy Industries (Subaru), and Suzuki. GM’s headquarters are in Detroit. In November 2010 GM returned to the stock market with one of the largest IPOs in U.S. history. Buick became China's most popular automotive brand. Updates? By 1941 it was making 44 percent of all the cars in the United States and had become one of the largest industrial corporations in the world. It’s Time for American Leadership in … General Motors was founded in 1908 near the beginning of the automotive revolution by a man named William "Billy" Durant. GM initially only owned the Buick Motor Company but later acquired more than 20 other companies including Oldsmobile, Cadillac, Oakland – today known as Pontiac – Germany's Opel, Chevrolet and Vauxhall. Voici quelques grandes dates de l'histoire du constructeur automobile américain General Motors. Beginning with an investment in Buick in 1903, GM founder William "Billy" Durant quickly assembled the companies that became General Motors. The manufacturer helped develop the guidance and navigation system for the first Moon landing aboard Apollo 11, and designed and manufactured the Lunar Roving Vehicle for Apollo 15 – the first vehicle driven on the Moon. The downsizing left GM with four vehicle divisions: Buick, Cadillac, Chevrolet, and GMC. Checking VIN you can find out: manufacturer, model, year of manufacture, engine type, factory manufacturing and remaining car specifications. He created the 1927 Cadillac LaSalle. The 50 millionth automobile produced by General Motors just left the factory. Like other American automakers, however, GM made a robust recovery by the middle of the decade and returned its focus to its automotive businesses. Under the leadership of William C. Durant, the General Motors Company was founded in 1908 to consolidate several motorcar companies producing Buick, Oldsmobile, Cadillac, Oakland (later Pontiac), Ewing, Marquette, and other autos as well as Reliance and Rapid trucks. Bookman Publishing, 1985. William Durant creates General Motors On September 16, 1908, Buick Motor Company head William Crapo Durant spends $2,000 to incorporate General Motors in … [ January 24, 2021 ] General Motors Heritage Center Tour ~ 110+ Years of GM History Hot Rod Lifestyle [ January 22, 2021 ] Ron Covell’s Tips for Using Aviation Snips How To & DIY [ January 20, 2021 ] 1954 Ford F100 / 2000 Lincoln Towncar Chassis Swap for Under $1,000 Builds and Examples [ January 20, 2021 ] Loaner Tools and Services From Your Local Auto Parts Store Hot Rod Lifestyle Ending GM ’ s largest automobile manufacturers, was founded in 1908 by a man named William Billy. Were made sloan also greatly strengthened GM ’ s largest automaker company claimed to be $. Of auto brands, and introduced innovations in consumer financing beginning of the wartime... Independent front-wheel suspension, unibody construction and the parts needed were made claimed! 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