General Motors Corporation
Introduction and Company Background
General Motors SUV’s are the biggest profit producing product for the company. However, due to rapidly rising gas prices in 2008, it caused General Motors SUV profit to decrease by 30%. With the decreasing sales of SUV’s, GM began struggled to make profits. General Motors has lived off its SUV’s and pick-up trucks since they were first introduced. With the downfall of the economy, has caused General Motors to lose customers as well as profits. As a result, General Motors has turned to the Government for help and in exchange has to lay-off 47,000 employees.
General Motors Corporation or GM is the worlds second largest auto manufacturer after Toyota, based in the United States with worldwide operations and brands including GMC, Hummer, Pontiac, Saab, Chevrolet, Buick, Daewoo, Holden, and Vauxhall. The GM headquarters are in Detroit, Michigan at the Renaissance Center. The company specializes in the development, marketing and production of cars, trucks, and car parts with primary operations in North American and Europe. General Motors is the world's second largest vehicle manufacturer, after Toyota and employs over 266,000 people.
The beginning of General Motors started in the year 1897. The oldest unit of General Motors, Old Motor Vehicle Company was founded by Ransom E Olds. In the same year, the company introduced Oldsmobile and in 1899 the company merged with Olds Gasoline Engine Works to form Olds Motors World. In 1902, Cadillac was founded by Henry M. Leland and the following year, Buick Motor was founded by David Dunbar and operations were moved from Detroit to Flint and soon, William Durant took control of Buick Motor. The General Motors Company or GM was organized by incorporating Buick Motors in 1908. A few months later, GM merged with Olds Motor Worlds; Cadillac and Oakland Motor cars were purchased in 1910. However, Durant lost control of General Motors in 1910 due to...