General Motors
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| Type | Public NYSE: GM TSX: GMM.U |
|---|---|
| Industry | Automotive |
| Founded | 1908 |
| Founder(s) | William C. Durant |
| Headquarters | Renaissance Center Detroit, Michigan, USA |
| Area served | Worldwide |
| Key people | Edward Whitacre (Chairman) Daniel Akerson (CEO) |
| Products | Automobiles |
| Revenue |  US$ 98.7 billion (Q1-Q3 2010)[1] |
| Net income | US$ 4.2 billion (Q1-Q3 2010)[1] |
| Owner(s) | United States Department of the Treasury ~26% |
| Employees | 209,000 (2010)[2] |
| Divisions | Chevrolet Buick Cadillac GMC |
| Subsidiaries | OnStar Adam Opel GmbH Vauxhall Motors |
| Website | GM.com |
Contents[show] |
[edit] Company overview
[edit] History
Main article: History of General Motors
GM was leader in global sales for 77 consecutive years (1931 to 2008).[5]
[edit] Chapter 11 reorganization
Main article: General Motors Chapter 11 reorganization
On July 10, 2009, a new entity, NGMCO Inc. purchased the ongoing operations and trademarks from General Motors Corporation.[6] The purchasing company, in turn, changed its name from NGMCO Inc. to General Motors Company, marking the emergence of a new operation from the "pre-packaged" Chapter 11 reorganization.[7][8][9]In November 2010 - 16 months after the bankruptcy - General Motors returned back to the stock exchange. Due to high demand, General Motors increased the number of ordinary (voting) shares by almost a third to 478 million; calculated from the unit price of 33 US$ for one share the whole value was 15 billion US$. In addition, 87 million preferred shares at a price of 50 US$ was spent.[10] With a total volume of around 23.1 billion US$ this was the largest IPO of all time.
On November 18, 2010, the New York Stock Exchange and the Toronto Stock Exchange listed the Company. The U.S. Treasury share holdings in the Company have been reduced from about 61% to about 26%, which included preferred shares and accounting for stock options given to former G.M. bondholders. The initial sale of such shares yielded the Treasury department about US$13.6 billion proceeds. SAIC Motor, partner of G.M. in China and India, acquired just less than 1 percent of the new G.M. for about $500 million.[11][12]
[edit] Brand reorganization
As part of General Motors Corporation's reorganization as General Motors Company, the content and the structure of its brand portfolio (its brand architecture) is also being reorganized.[13] Some nameplates like Pontiac, Saturn, Hummer, and service brands like Goodwrench were discontinued. Others, like Saab, were sold.[14] The practice of putting the "GM Mark of Excellence" on every car, no matter what the brand, was discontinued in August, 2009.[15] The company has moved from a corporate-endorsed hybrid brand architecture structure, where GM underpinned every brand to a multiple brand corporate invisible brand architecture structure.[16] The company's familiar square blue "badge" has been removed from the Web site and advertising, in favor of a new, subtle all-text logo treatment.[13][edit] Global sales
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[edit] Sales figures
| Calendar Year | U.S. sales | Chg/yr. |
|---|---|---|
| 1998[18] | 4,603,991 | |
| 1999 | 5,017,150 | 9.0% |
| 2000[19] | 4,953,163 |  1.3% |
| 2001 | 4,904,015 | 1.0% |
| 2002 | 4,858,705 | 0.9% |
| 2003 | 4,756,403 | 2.1% |
| 2004[20] | 4,707,416 | 1.0% |
| 2005 | 4,517,730 | 4.0% |
| 2006[21] | 4,124,645 | 8.7% |
| 2007 | 3,866,620 | 6.3% |
| 2008[22] | 2,980,688 | 22.9% |
| 2009[23] | 2,084,492 | 30.1% |
[edit] Corporate governance
As of December 1, 2009, The General Motors Board of Directors accepted Frederick Henderson's resignation. In January 2010, chairman Whitacre was appointed permanent chief executive officer after previously serving in an interim capacity.[25]
Executive management:
- Edward Whitacre, Jr. - Chairman of the Board of the Directors
- Daniel Akerson - Chief Executive Officer
- Chris Liddell - Vice Chairman and Chief Financial Officer[26]
- Thomas G. Stephens - Vice Chairman, Global Product Operations[27]
- Mark Reuss - President, GM North America[28]
- David N. Reilly - President, GM Europe and CEO, Adam Opel GmbH[29]
- Timothy E. Lee - President, GM International Operations (Asia-Pacific, Latin America, Africa, and Middle East)[30]
- Ray Young - vice president, International Operations[31][32]
- Edward T. Welburn - Global Vice President of General Motors Design, current and only the sixth head designer.[33]
Whitacre was very active in GM's advertising. He appeared in an advertisement touting the company's 60-day, money-back guarantee soon after the company exited bankruptcy and a television advertisement that boasted the repayment of $6.7 billion loan from government ahead of schedule, which caused a controversy.[34] On August 12, 2010 GM announced that Whitacre would relinquish the CEO position effective September 1, 2010 and that of Chairman of the Board at the end of the year, to be replaced in those functions by current board member Dan Akerson.[35]
[edit] World presence
[edit] North America
In North America, GM will focus primarily on its four core brands — Chevrolet, Cadillac, Buick, and GMC — while selling, discontinuing, or scaling back its other brands. The White House characterized the GM restructuring as a shift toward a new leaner, greener GM, which will aim to break even with annual sales much lower than previously stated.[36] President Obama declared that the restructuring "will mark the end of an old GM, and the beginning of a new GM; a new GM that can produce the high-quality, safe, and fuel-efficient cars of tomorrow; that can lead America towards an energy independent future; and that is once more a symbol of America's success."[37]In the middle of 2005, GM announced that its corporate chrome power emblem "Mark of Excellence" would begin appearing on all recently introduced and all-new 2006 model vehicles produced and sold in North America. However, in 2009 the "New GM" reversed this, saying that emphasis on its four core brands would dictate downplaying the GM name.[38]
[edit] Asia
The Buick brand is especially strong in China, led by the Buick Excelle subcompact. The last emperor of China owned a Buick.[39] The Cadillac brand was introduced in China in 2004, starting with exports to China. GM pushed the marketing of the Chevrolet brand in China in 2005 as well, moving the former Buick Sail to that marque. The company manufactures most of its China market vehicles locally through Shanghai GM, a joint venture with the Chinese company SAIC, which was created on March 25, 1997. The Shanghai GM plant was officially opened on December 15, 1998, when the first Chinese-built Buick came off the assembly line. The SAIC-GM-Wuling Automobile joint-venture is also successfully selling microvans under the Wuling marque (34 percent owned by GM).In August 2009 the joint venture of FAW GM Light Duty Commercial Vehicle Co Ltd was formed that mainly produces Jiefang light-duty trucks.[40]
GM increased its sales in China by 68 percent to 230,048 vehicles in March 2010, outsold its U.S. sales of 188,546 by 22 percent. And the company said it is “on track” to sell more than 2 million vehicles in China in 2010, four years ahead of its plan.[41][42]Blumenstein, Rebecca (October 30, 2007). "GM to Invest in Green Technology in China". WSJ. http://online.wsj.com/article/SB119365251905674678.html. Retrieved November 7, 2010.
GM made Cadillac a chief sponsor of the state-run China Film Group Corporation's Birth of a Party, a film dramatizing the events leading to the creation of the Chinese Communist Party in 1921 after Russia’s October Revolution in 1917.[43]
[edit] Africa
General Motors has a long history in Egypt which began in the 1920s with the assembling of cars and light pickup trucks for the local market. In the mid of the 1950s, GM withdrew from the Egyptian market. Some year later, the Ghabbour Brothers began to assemble Cadillac, Chevrolet and Buick models up to the 1990s.Since 1983 GM and Al-Monsour Automotive Company has founded the General Motors Egypt which is currently the only manufacturer of traditional GM branded vehicles in Egypt. The Speranza Motors is a big company which started in the 1990s with the SKD assembling of Daewoo cars. Today the main products of Speranza are from the Chinese Chery concern.
[edit] Racing heritage
GM has participated over the years in the World Touring Car Championship (WTCC), Le Mans, Nascar, SCCA, and many other world venues.
In Australia, there is the V8 Supercar Championship which is battled out by the two main rivals of (GM) Holden and Ford. The current Holden Racing Team cars are based on the Holden Commodore and run a 5.0-litre V8-cylinder engine producing 635 bhp (474 kW). These cars have a top speed of 294 km/h (183 mph) and run 0–100 km/h in 3.8 seconds. The Holden Racing Team is Australia's most successful team in Australian Touring Car History. In 2006 & 2007, the Drivers championship was won by the very closely linked HSV Dealer Team.
[edit] Philanthropy
Since 1996, General Motors has been the exclusive source of funding for Safe Kids USA's "Safe Kids Buckle Up" program, a national initiative to ensure child automobile safety through education and inspection.[44] Through 2002, the Pace Awards program led by GM, EDS, and SUN Microsystems, gave over $1.2 billion of in-kind contributions which includes computers to over 18 universities to support engineering education.[45] In 2009, the GM led group has helped the Pace Awards program worldwide.[46] General Motors is a leading contributor to charity. In 2004, GM gave $51,200,000 in cash contributions and $17,200,000 in-kind donations to charitable causes.[47][edit] Research and development
GM R&D was the world’s first automotive research center. It was organized in 1920 by inventor Charles F. Kettering.Headquartered in Warren, Michigan, the GM Research Lab is a network of six laboratories, six science offices and collaborative relationships in over twelve countries including working relationships with universities, government groups, suppliers and other partners from across the globe.
[edit] Small car sales
[edit] Environmental commitment
[edit] Environmental principles
General Motors have a published policy that includes committments to1. actions to restore and preserve the environment
2. reduce waste and pollutants, conserve resources, and recycle materials at every stage of the product life cycle
3. participate actively in educating the public regarding environmental conservation.
4. pursue vigorously the development and implementation of technologies for minimizing pollutant emissions.
5. continue to work with all governmental entities for the development of technically sound and financially responsible environmental laws and regulations.
6. continually assess the impact of the production plants and products on the environment and the communities in which they exist and operate with a goal of continuous improvement.
[edit] Environmental initiatives
The company has long worked on alternative-technology vehicles, and has recently led the industry with ethanol burning flexible-fuel vehicles that can run on either E85 (ethanol) or gasoline. The company was the first to use turbochargers and was an early proponent of V6 engines in the 1960s, but quickly lost interest as the muscle car race took hold. They demonstrated[49] gas turbine vehicles powered by kerosene, an area of interest throughout the industry, but abandoned the alternative engine configuration in view of the 1973 oil crisis. In the 1970s and 1980s, GM pushed the benefits of diesel engines and cylinder deactivation technologies with disastrous results due to poor durability in the Oldsmobile diesels and drivability issues in the Cadillac V8-6-4 variable cylinder engines. In 1987, GM, in conjunction with AeroVironment, built the Sunraycer, which won the inaugural World Solar Challenge and was a showcase of advanced technology. Much of the technology from Sunraycer found its way into the Impact prototype electric vehicle (also built by Aerovironment) and was the predecessor to the General Motors EV1.GM supported a compromise version of the Corporate Average Fuel Economy (CAFE) standard increase from 27 mpg-US (8.7 L/100 km; 32 mpg-imp) to 35 mpg-US (6.7 L/100 km; 42 mpg-imp), the first such increase in over 20 years.[50]
[edit] Hybrid electric vehicles
GM currently offers the two-mode is used by the Chevrolet Tahoe/GMC Yukon and will later be used on the Saturn Vue (cancelled), Cadillac Escalade, GM 1/2-ton pickups and possibly other vehicles.[51]
GM has recently introduced the concept cars Chevrolet Volt, which is an electric vehicle with back-up generators, powered by gasoline, E85, or fuel cells. According to GM, a production Chevrolet Volt will be available by late 2010 as a 2011 model.[52]
The GM Magic Bus is a hybrid powered bus.[53]
[edit] All-electric vehicles
General Motors was the first American company (in the modern era) to release an all-electric automobile. In 1990, GM debuted the revolutionary "Impact" concept car at the Los Angeles Auto Show. It was the first car with zero-emissions marketed in the US in over three decades. The Impact was eventually produced as the EV1 for the 1996 model year. It was available through dealers located in only a few regions (e.g., California, Arizona, Georgia). Vehicles were leased, rather than sold, to individuals. In 1999 GM decided to cease production of the vehicles. When the individual leases had expired, they declined to renew the leases or allow the lessors to purchase them. All of the EV1's were eventually returned to General Motors and, with the exception of a few which were donated to museums, all were destroyed.General Motors has announced that it is building a prototype two-seat electric vehicle with Segway. An early prototype of the Personal Urban Mobility and Accessibility vehicle—dubbed Project P.U.M.A. – will be shown off in New York a day ahead of the press previews for the 2009 New York International Auto Show.[54]
[edit] Battery packs for electric vehicles
GM builds battery packs in southern Michigan.[52] GM also established an automotive battery laboratory in Michigan.[55] GM will be responsible for battery management systems and power electronics, thermal management, as well as the pack assembly. Finally an existing GM facility at Brownstown Township was chosen to be upgraded as battery pack plant.[52] LG Chem's U.S. subsidiary, Compact Power of Troy, Michigan, has been building the prototype packs for the development vehicles and will continue to provide integration support and act as a liaison for the program.[edit] Hydrogen initiative
In June 2007, Larry Burns, vice president of research and development, said he's not yet willing to say exactly when hydrogen vehicles will be mass produced, but he said it should happen before 2020, the year many experts have predicted. He said "I sure would be disappointed if we weren't there" before 2020.[56]
[edit] Flexible-fuel vehicles
GM produces several flexible-fuel vehicles that can operate on E85 ethanol fuel or gasoline, or any blend of both. Since 2006 GM started featuring a bright yellow gas cap to remind drivers of the E85 capabilities,[57][58][59][60] and also using badging with the text "Flexfuel/E85 Ethanol" to clearly mark the car as an E85 FFV.[61][62]GM is the leader in E85 flex fuel vehicles, with over 3 million FlexFuel vehicles on the road in the U.S. As of 2009, GM offers 18 ethanol-enabled FlexFuel cars and trucks in the US, and produce more than one million new FlexFuel vehicles. GM's goal is to have half of their annual vehicle production be E85 or biodiesel capable by 2012.[63]
