History of General Motors
History of General Motors
The Renaissance Center in Detroit, Michigan, is General Motors ' world headquarters.
General Motors Corporation, also known as GM or GMC, is the world 's second largest car manufacturer based on annual sales. Founded in 1908, in Flint, Michigan, GM employs approximately 284,000 people around the world. With global headquarters at the Renaissance Center in Detroit, Michigan, USA, GM manufactures its cars and trucks in 33 countries. Their European headquarters is based in Zurich, Switzerland. In 2005, 9.17 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, Daewoo, Holden, Hummer, Opel, Pontiac, Saab, Saturn and Vauxhall.
Early history
General Motors was founded on Wednesday, September 16, 1908, in Flint, Michigan, as a holding company for Buick (then controlled by William C. Durant), and acquired Oldsmobile later that year. The next year, Durant brought in Cadillac, Cartercar, Elmore, Ewing, and Oakland (later known as Pontiac). In 1909, General Motors also acquired the Reliance Motor Truck Company of Owosso, Michigan, and the Rapid Motor Vehicle Company of Pontiac, Michigan, the predecessors of GMC Truck. A Rapid became the first truck to conquer Pikes Peak in 1909. In 1910, Welch and Rainier were added to the ever-growing list of companies controlled by GM. Durant lost control of GM in 1910 to a bankers trust, due to the large amount of debt (around $1 million) taken on in its acquisitions.
Durant left the firm and helped establish the Chevrolet Motor Company in 1911, with brothers Gaston and Louis Chevrolet. After a brilliant stock buy back campaign, he returned to head GM in 1916, with the backing of Pierre S. du Pont. Chevrolet entered the General Motors fold in 1917; its first GM car was 1918 's Chevrolet 490. Du Pont removed Durant from management in 1920, and various Du Pont interests held large or controlling share holdings until about 1950.
In 1918 GM purchased the
The Renaissance Center in Detroit, Michigan, is General Motors ' world headquarters.
General Motors Corporation, also known as GM or GMC, is the world 's second largest car manufacturer based on annual sales. Founded in 1908, in Flint, Michigan, GM employs approximately 284,000 people around the world. With global headquarters at the Renaissance Center in Detroit, Michigan, USA, GM manufactures its cars and trucks in 33 countries. Their European headquarters is based in Zurich, Switzerland. In 2005, 9.17 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, Daewoo, Holden, Hummer, Opel, Pontiac, Saab, Saturn and Vauxhall.
Early history
General Motors was founded on Wednesday, September 16, 1908, in Flint, Michigan, as a holding company for Buick (then controlled by William C. Durant), and acquired Oldsmobile later that year. The next year, Durant brought in Cadillac, Cartercar, Elmore, Ewing, and Oakland (later known as Pontiac). In 1909, General Motors also acquired the Reliance Motor Truck Company of Owosso, Michigan, and the Rapid Motor Vehicle Company of Pontiac, Michigan, the predecessors of GMC Truck. A Rapid became the first truck to conquer Pikes Peak in 1909. In 1910, Welch and Rainier were added to the ever-growing list of companies controlled by GM. Durant lost control of GM in 1910 to a bankers trust, due to the large amount of debt (around $1 million) taken on in its acquisitions.
Durant left the firm and helped establish the Chevrolet Motor Company in 1911, with brothers Gaston and Louis Chevrolet. After a brilliant stock buy back campaign, he returned to head GM in 1916, with the backing of Pierre S. du Pont. Chevrolet entered the General Motors fold in 1917; its first GM car was 1918 's Chevrolet 490. Du Pont removed Durant from management in 1920, and various Du Pont interests held large or controlling share holdings until about 1950.
In 1918 GM purchased the