General Motors has an interesting story. General Motors Corporation started out as a holding company in 1908; it was controlled by a man named William C. Durant, who also owned Buick. Now, back then, you have to remember that there were less than 10,000 cars in the country at the time (there are over 250 million today) and William Durant came from a horse-drawn carriage manufacturing business. He was basically on the ground floor of what was to be one of the biggest industries the world had ever seen: motorized cars or horseless carriages as they were called. Durant ultimately let other people run GM while he accumulated other car brands like Cadillac, Oakland and Elmore, among others. He also started the Chevrolet Motor Car Company and then he secretly bought a controlling interest in GM.
After a pretty messy power fight, Durant took back control of GM and reorganized it. He joined Chevy with GM, along with Cadillac, Buick, Oldsmobile and a few other car brands. General Motors was one of the Big Three automakers in the United States and it was amazingly successful, employing almost 350,000 workers in 150 assembly plants. That was at the height of its fortunes. In 2009 General Motors filed for bankruptcy. This coincided with the housing and mortgage crisis and the general economic depression that the nation and the world suffered through for several years.
General Motors, however, was financially supported by the United States government and came out of bankruptcy relatively soon after filing. It did have to sell off some of its assets such as Hummer, Saturn and Pontiac but the company came back stronger than ever and has been showing a profit since 2010. The bankruptcy also saved over a million jobs and billions of dollars in tax revenue.
GM manufactures cars and trucks in almost 40 countries under the following brand names: Cadillac, GMC, Holden, Buick, HSV, Opel, Vauxhall, Baojun, Wuling, Ravon and Jie Fang. Gerneral Motors produced almost 10 million vehicles in 2015 and its sales were phenomenal. William Durant never could have imagined what his company would amount to way back then. He had come from a world where real live horses pulled people’s carriages at no more than ten miles an hour. Today, his Buicks, Chevys and Cadillacs can reach 60 miles per hour in a matter of seconds. Take a look at some of GM’s finest vehicles at Hoffman General Motors or look at their website: http://www.hoffmangm.com
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