Submitted by: Submitted by jeanette
Views: 368
Words: 1556
Pages: 7
Category: Business and Industry
Date Submitted: 09/05/2012 01:31 PM
Global Insights
Introduction
General Motors (GM) is ranked as the second largest auto maker, in the world, when looking at their annual sales (Financial Times 500, 2011). General Motors primary commitment is in the automotive production, marketing, financing, and insurance business. GM designs, manufactures, and markets cars worldwide having the largest operating company in North America. GM’s finance and insurance operations predominantly relate to General Motors Acceptance Corporation (GMAC), a wholly owned subsidiary of GM, which provides a wide range of financial services, including automotive finance and mortgage products and services. Founded in 1908, in Flint, Michigan, GM conducts business in over 120 countries worldwide, employing approximately 208,000 people throughout the major regions. GM’s largest national markets are China, after China is, the United States, Brazil, the United Kingdom, Germany, Canada, and Italy. GM is a company of different brands selling over 7.5 million vehicles in over 120 countries. GM sells and services the following types of vehicles: Baojun, Buick, Cadillac, Chevrolet, GMC, Daewoo, Holden, Isuzu, Jiefang, Opel, Vauxhall, and Wuling. GM’s OnStar section is the industry leader in vehicle safety, security, and information services.
Background
For the major part of the 20th century, General Motors was the biggest company in the most influential industry in the world. "It not only led in automotive innovations but helped define the new breed of massive, bureaucratic multinational corporations that shaped the post –war economy. It was the world’s largest car maker from 1931 to 2008, when it was surpassed by Toyota" (New York Times, 2011).
By the time it lost that distinction, such figures were the lease of its worries – in the fall of 2008, despite two years of rapid cutbacks. G.M. found itself on the brink, reduced to begging the federal government for the funds it needed to stay afloat. That December it received $9...