1999 - Delphi is spun off as a separate company. GM purchases rights to the Hummer brand from AM General. 2000 - President Rick Wagoner replaces Smith as CEO. GM cuts 10 percent of white- collar employment. 2002 - GM spends $251 million on 42 percent stake in South Korea's bankrupt Daewoo Motor and names it GM Daewoo Auto & Technology Co. Stake later increased to 51 percent. 2003 - GM sells defense unit to General Dynamics Corp. for $1.1 billion and sells 20 percent stake in Hughes Electronics to News Corp. for $3.1 billion. 2004 - Last model year for Oldsmobile. 2006 - About 47,600 GM and Delphi hourly workers take buyout or early retirement offers. GM investor Kirk Kerkorian suggests alliance with Nissan and Renault, which GM's board examines and rejects; Kerkorian sells much of his stake. GM sells 51 percent stake in GMAC Financial Services to group led by Cerberus Capital Management LP for $14 billion. 2007 - GM loses $38.7 billion, including $39 billion third-quarter charge for unused tax credits. It's the largest annual loss in auto industry history. GM reaches historic contract with United Auto Workers that shifts billions in retiree health care expenses to union-administered trust. Company agrees to pay $33.7 billion into trust. Contract also lets company to pay some new hires $14 per hour. U.S. market share is 23.7 percent. GM sells Allison Transmission to The Carlyle Group and Onex Corp. for $5.6 billion. 2008 - Gas prices hit $4 per gallon and truck sales plummet. GM announces plan to close four pickup and sport utility vehicle factories, plans to shed 8,350 jobs. GM announces new small car, plans for $15 billion in savings, with $10 billion in cost- cutting and $5 billion from asset sales and borrowing. Hummer brand put up for sale. Worldwide employment stands at about 266,000. General Motors current CEO and Chairwoman of the Board is Mary T. Barra the first female CEO of a major global automaker. Mary was elected Chairman of the Board of Directors on January 4, 2016, and has served as Chairwoman of the Board of Directors since January 15, 2014. General Motors is a multinational automotive company based in Detroit, Michigan at the Renaissance Center. The company designs, manufactures and sells various vehicles, cars truck, commercial vehicles, crossovers, and automobile parts, they are the second largest automaker in the world. In 2015, General Motors produced 9.958 million vehicles and captured 11.2% of the global automotive market share.
GM’s portfolio includes vehicles under 10 assorted brands, Chevrolet, Buick, GMC, Cadillac, Opel, Vauxhall, Holden, Baojun, Wuling and Jiefang. GM’s primary markets are China and the U.S. SWOT ANALYSIS Strengths Joint ventures with local Chinese automotive companies Strong position in the U.S. automotive market Sustainable and environmental policies Safe and eco-friendly vehicles Strong brand portfolio OnStar all in one assistant Rare product recalls Weaknesses Dependence on U.S. to generate most of the revenue Brand awareness Reliance on pickup trucks and SUVs for sales growth Opportunities
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- Fall '18
- Alisa Sattler
- Business, General Motors Company