General Motors

General Motors is an American multinational automotive manufacturer headquartered in Detroit and one of the largest carmakers in the world. Founded in the early twentieth century, it grew through the consolidation of numerous early automobile companies into a sprawling corporation that came to dominate the American auto industry, and for many decades it ranked as the largest automaker on the planet. The company is best known for its portfolio of major vehicle brands, each operating as a distinct division targeting different segments of the market, ranging from mass-market and value-oriented vehicles to trucks and luxury automobiles. Over its long history General Motors became a symbol of American industrial might and a pillar of the national economy, employing vast numbers of workers and helping to define car culture in the United States. The company weathered significant challenges over the years, most notably a major financial crisis that led to a government-supported restructuring, from which it emerged restructured and refocused. Beyond its core automobile brands, General Motors has interests in joint ventures abroad, defense vehicles, financial services and connected-vehicle technology, and it has invested heavily in the industry's shift toward electric and autonomous vehicles as it adapts to a changing future. As one of the most storied and significant companies in the history of the automobile, General Motors remains a major force in the global automotive industry.

William Crapo Durant founded General Motors on September 16, 1908, in Flint, Michigan, with Charles Stewart Mott as a key early backer. Durant's strategy was not to build cars from scratch but to acquire existing automakers. He started by consolidating Buick, then already successful, and within two years added Oldsmobile, Cadillac, and Oakland (later Pontiac). This holding-company model allowed GM to offer a car for every purse and purpose, a philosophy later formalized by CEO Alfred P. Sloan in the 1920s. Sloan's management structure, which included decentralized divisions and centralized financial control, became a blueprint for modern corporations and helped GM overtake Ford as the world's largest automaker by the 1930s.

Today, GM manufactures vehicles under four core brands in North America: Chevrolet, GMC, Buick, and Cadillac. It also owns GM Financial for auto financing, GM Defense for military vehicles, and Cruise for autonomous driving technology. In 2023, GM reported revenue of approximately $171.8 billion and net income of $10.1 billion, selling roughly 6.2 million vehicles globally. The company is the largest automaker in the United States by sales and ranks seventh globally by vehicle production. Its market capitalization fluctuates around $50 to $60 billion as of mid-2024.[edit]