General Motors Company is an American based multinational Corporation is known as GM having headquartered in Detroit, Michigan. GM works in manufactures, markets and distributes vehicles and their parts and sells financial services. This multinational firm has Global HQ at the Renaissance Center in Detroit, Michigan, US. At present days works in 35 countries to manufacture Cars and Trucks. William C. Durant is the founder of General Motors on September 16, 1908. GM get record success in automobile manufacturing from 1932 to 2007. Now, Company LLC called new GM was formed in 2009 following the bankruptcy of old GM. The new brand purchased the majority of the assets from OLD Brand including its name.
General Motors Net Worth 2022
General Motors Net Worth: $49.6 Billion US
General Motors Net worth, in 2022 is $49.6 billion. The production output is 9,958,000 vehicles, having revenue of US $166.3 billion. Total assets in 2022 are US$221.6 billion, and total equity is US$43.83 billion.
In 2008, 8.35 million cars and trucks were sold by this firm under various brands
GM Cars Brands:
Former GM Brands include:
General Motors Corporation is the world largest Firm in the field of automobiles, having approximately 202,000 workers around the world.
In 2009, General Manager sold 6.5 million cars and trucks around the world.
In 2010, This Corporation sold 8.4 million.
Now in March 2017, Mary Barra is the CEO and Chairman of the Board, and Daniel Amman is the president.
The Edward T. Welburn was the first African American to hold a world automobile design organization and in 2014 the highest-ranking African American in the US motor Industry.
Ed Whiteacre is the part of GM who advertise and announced the company 60-Days Money-Back Guarantee and repayment of $6,7 billion loans from Government ahead of schedule.
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Wondering about the net worth of General Motors? Well, check out here General Motors’ net worth, important milestones and a lot more below.
General Motors Company having its headquarters in Detroit, Michigan, US is a multinational automobiles manufacturing firm. In 1908, it was founded by William D Durant as a holding company.
The present entity was the result of restructuring in 2009. General Motors is one of the largest makers of automobiles in the world and the largest automobile manufacturer in the US. From 1931 to 2007, General Motors retained its position as the world’s largest automobiles maker.
How much is the net worth of GM Motors?
GM Motors has a current net worth of US $148.1 billion. It’s an automobile manufacturer based in Detroit, Michigan and founded by William D Durant.
General Motors Company designs, manufactures and retails vehicles around the globe and its offerings include passenger cars, sport utility vehicles, light trucks, crossover vehicles, vans and other types of vehicles.
GM has three geographical segments namely General Motors North America (GMNA), General Motors International Operations (GMIO) and General Motors Europe (GME). Since 2014 Mary Barra has been the CEO of the firm.
GM’s four cardinal automobile brands are Chevrolet, GMC, Cadillac, and Buick. General Motors also owns a significant percentage of stake in overseas enterprises including Wuling, Baojun, and Jiefang. In 2016,
GM reached the notable milestone of selling over 10 million vehicles around the globe. In 2021, General Motors Company was ranked in the 22nd place among the largest corporations based in the US in terms of total revenue.
General Motors Net Worth: Quick Summary
General Motors CompanyFormer name: General Motors Corporation
Renaissance Center, Detroit, Michigan, U.S.
Year of Founding
William C. DurantCharles Stewart MottFrederic L. Smith
In 2021, General Motors have a net worth of $148.1B. GM’s market cap in 2021 is recorded at $83.176 billion. This is a sharp rise from the market cap valued at $41.43 billion in September 2020.
Though the company’s stock prices suffered a sharp decline in March 2020, the firm has been able to recover its financials quickly and is moving on steadily after the Covid-19 situation.
The pandemic lockdowns and shortage of chips had severely impacted the automobiles industry over the last 19 months. Due to shortage of semiconductor chips, GM had shut down the production in most of North America during the 2021’s second quarter.
The firm started reopening these facilities on October 3, 2021 and all the facilities resumed their production by November 1, 2021. Though the company foresees the shortage of chips to continue through the first six months of 2022, the firm said its full year performance in 2021 will match with the high end of the guidance range.
GM lost billions towards the closing of 2017 on account of inventory shortage, nevertheless making a comeback during the first quarter of 2018 due to a sharp rise in crossover sales and by implementing an adept cost control protocol.
General Motors suffered the biggest financial blow in 2009 and it was forced to declare bankruptcy due to severe losses and fall in market shares. This situation saw thousands losing their jobs with GM and the company closing down dozens of its facilities.
Important Milestones in the Growth of General Motors
During the 1900s, William C. Durant’s Michigan based Dort Carriage Company was successfully manufacturing horse drawn vehicles in the US. During those days, Durant had an aversion for automobiles. However, in 1904, he had to buy the Buick Motor Company from his friend James H. Whiting, who also owned Flint Wagon Works.
In 1908, Durant formed General Motors Company as a holding company in partnership with Charles Stewart Mott. The name of the firm was inspired by General Electric. GM acquired Durant’s Buick and then acquired Oldsmobile on November 12, 1908.
In 1909, General Motors acquired a number of firms including Cadillac, Elmore, Welch, Cartercar, Oakland, Reliance Motor Truck Company, and Rapid Motor Vehicle Company.
In 1909, Durant attempted to acquire Ford Motor Company with the approval of the board. Since Durant was seen overleveraging the fledgling firm in going for such acquisitions, the board of Directors removed Durant from GM’s board in 1910 being compelled by the bankers who were giving loans to GM.
Bankers had to decide in this way under the influence of the 1910-11 panic that replicated the situation in 1890 when the Sherman Antitrust Act was passed.
Within a year, Durant co-founded Chevrolet Motor Company with Swiss race car driver Louis Chevrolet and made a reentry into the automobiles industry. In 1916, GM was reincorporated as General Motors Corporation in Detroit.
In 1917, reacquired a controlling interest in GM. In May 1918, Chevrolet Motor Company was consolidated into General Motors Company. Within two years, Alfred P Sloan replaced Durant once again.
Under Sloan, General Motors saw some annual styling changes which meant the dating of the previous year vehicle models. The firm also invented the pricing strategy that most carmakers are following now.
As per this strategy, the firm’s models Chevrolet, Pontiac, Oldsmobile, Buick, and Cadillac were priced respectively from the least expensive to the most expensive ones in the order.
In 1962, General Motors attained prominence in the industry by pushing back Ford Motors in terms of sales volume. General Motors has a portfolio of products in addition to cars and trucks like aircraft, construction equipment, farm tractors, trains, boat engines, trucks, and appliances.
The Bankruptcy Episode of General Motors
On June 8, 2009, General Motors had to file for a government backed reorganization under the legal provision called Chapter 11. On July 10, 2009, the firm sold all its assets, some of its subsidiary operations and the ‘General Motors’ trademark to a wholly new company.
The original General Motors was renamed as Motors Liquidation Company. This arrangement resulted in the birth of a new General Motors, free of all the liabilities that the old firm had.
As part of the Troubled Asset Relief Program, the US Department of the Treasury made an investment of $49.5 billion in General Motors. Through the sale of shares on December 9, 2013, the Treasury could recover $39 billion, leaving it with a loss of $10.3 billion.
The Treasury also made one another investment of $17.2 billion into GMAC, the former financing firm of General Motors. Eventually GMAC became Ally whose shares were sold on December 18, 2014, for $19.6 billion, which netted around $2.4 billion in profits.
In a study, Center for Automotive Research has revealed that the bailout of GM could help save 1.2 million jobs besides preserving over $34.9 billion in terms of tax revenue.
The Chapter 11 bankruptcy that General Motors had filed in 2009 did not cover General Motors of Canada Limited. The latter closed down many of its brands including Saturn, Pontiac, and Hummer, and sold away the Saab Automobile to Spyker, Dutch automaker. Through these measures, it could successfully come out of the government-backed Chapter 11 reorganization.
Following its reorganization, GM went for an IPO in 2010, which was considered among the world’s top five largest IPOs till today. The IPO helped GM return to profitability very soon. In a deal worth $2.3 billion, General Motors sold the Opel and Vauxhall brands to Groupe PSA on March 6, 2017.
Business segments of General Motors
General Motors operates through its twelve brands and also has 20% stake in IMM in addition to a 77% stake in GM Korea. GM also has its joint ventures known as General Motors Egypt, General Motors India, Shanghai GM, FAW-GM in China, SAIC-GM-Wuling, Isuzu Truck South Africa, and GM Uzbekistan.
GM is into business in over 140 countries and has employed a workforce totaling to 212,000. The four business segments of GM are GM North America (GMNA), GM International Operations (GMIO), Cruise, and GM Financial.
Maven is the mobility division operated by GM and this segment offers car sharing services in the US. This segment is exploring the alternatives to individual vehicle ownership. The military defense segment of GM is known as GM Defense meeting the needs of military technology and propulsion systems used in military vehicles.
For about 77 years from 1931 to 2007, GM led the global volume of vehicle sales, which is the longest record set by any automobile maker in the world till date. Even today, GM is among the world’s largest automobile sellers in terms of volume sales.
General Motors has its presence in most countries outside the US and operates in other countries through fully owned subsidiaries. In China, the firm operates through joint ventures. OnStar, GM’s subsidiary provides vehicle safety, security and information services.
In 2009, General Motors recalled many of its brands including Saturn, Pontiac and Hummer and passed through the most troubled phase of Chapter 11 reorganization backed by the government. Following the reorganization, GM became a public enterprise and the IPO it announced in 2010 was among the top five largest IOPs in history. In the same year, GM returned to profitability.
Significant Financial Results of General Motors
Since 2010, General Motors has been reporting profits and the firm made a revenue of $4.7 billion in this year. In 2010, the firm produced 8.5 million units globally. In 2011, the company returned to the first place in terms of the total sales worldwide by selling 9.025 million units. This volume made up 11.7% market share of the total vehicle sales in the world.
In this year, the Chevrolet brand made the major contribution to GM’s performance as this brand sold 4.76 million vehicles around the world setting a global record in sales.
In 2014, GM had to make a very expensive recall of its vehicles due to faulty ignition switches that took a toll on 124 lives and resulted in a loss of $1.5 billion to the company. In this year, the firm’s profits fell down to $108 million and the shares went down by 16%.
GM reported a net loss of $758 million during the second quarter of 2020. In the same year, GM announced an alliance with Honda on purchase, research and development of vehicles.
In response to the criticisms that GM has not been advertising enough on the media owned by the Black, in April 2012, the firm announced that it will allocate 2% of its advertising budget on advertising on Black-owned media, which will be topped up to 4% in 2000 until it reaches 8% in 2025.
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