General Motors Company (NYSE: GM, TSX: GMM.U), commonly known as GM (General Motors Corporation before 2009), is an American multinational automotive corporation headquartered in Detroit, Michigan, and the world's largest automaker, by vehicle unit sales, in 2011, employing 202,000 people and doing business in some 157 countries. General Motors produces cars and trucks in 31 countries, and sells and services these vehicles through the following four regional segments, which are GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), and GM South America (GMSA), through which development, production, marketing and sales are organised in their respective world regions, plus as fifth segment GM Financial.
General Motors (GM) automobile marques are Alpheon, Baojun, Buick, Cadillac, Chevrolet, GMC, Jiefang, Opel, Vauxhall, Holden, and Wuling.
GM acts in most countries outside the USA via direct subsidiaries, but in China through 10 joint ventures, among them Shanghai GM and SAIC-GM-Wuling Automobile. GM owns (per 31 December 2011) 77.0% of its joint venture in South Korea, GM Korea. GM's OnStar subsidiary provides vehicle safety, security and information services.
In 2009, the company shed several brands, closing Saturn and Pontiac, and emerged from a government backed Chapter 11 reorganization. In 2010, GM made an initial public offering that was one of the world's top 5 largest IPOs to date. GM returned to profitability in 2011.
Read more about General Motors: Corporate Governance, World Presence, Motorsport, Research and Development, Small Car Sales, Environmental Initiatives, History, Brand Reorganization, Philanthropy, Logos
Famous quotes containing the words general and/or motors:
“In the drawing room [of the Queens palace] hung a Venus and Cupid by Michaelangelo, in which, instead of a bit of drapery, the painter has placed Cupids foot between Venuss thighs. Queen Caroline asked General Guise, an old connoisseur, if it was not a very fine piece? He replied Madam, the painter was a fool, for he has placed the foot where the hand should be.”
—Horace Walpole (17171797)
“When General Motors has to go to the bathroom ten times a day, the whole countrys ready to let go. You heard of that market crash in 29? I predicted that.... I was nursing a director of General Motors. Kidney ailment, they said; nerves, I said. Then I asked myself, Whats General Motors got to be nervous about? Overproduction, I says. Collapse.”
—John Michael Hayes (b. 1919)