General Motors Company, commonly referred to as General Motors (GM), is an American multinational corporation headquartered in Detroit that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services, with global headquarters in Detroit’s Renaissance Center. It was originally founded by William C. Durant on September 16, 1908 as a holding company. The company is the largest American automobile manufacturer, and one of the world’s largest. As of 2019, General Motors is ranked #13 on the Fortune 500 rankings of the largest United States corporations by total revenue.
General Motors manufactures vehicles in 37 countries; its core automobile brands include Chevrolet, Buick, GMC, and Cadillac. It also either owns or holds a significant stake in foreign brands such as Holden, Wuling, Baojun, and Jiefang. Annual worldwide sales volume reached a milestone of 10 million vehicles in 2016.
GM stock has dropped about 49 percent from the 2021 ATH as the automaker struggles to make a deal with the UAW Union amid a possible recall of over 1 million vehicles for faulty airbags.
General Motors reported strong financial results for Q2 2023, with a 52% increase in net earnings compared to the previous year. Despite potential labor stoppages, the company is optimistic about its future outlook.
