General Motors Company Story 2023

General Motors Company, formerly General Motors Corporation, is an American company that was the world's largest manufacturer of motor vehicles for most of the 20th and early 21st centuries. The company has manufacturing and assembly plants and distribution centers in the United States, Canada, and several other countries. The company's primary products include automobiles and trucks, automotive components and engines, and financial services. GM is headquartered in Detroit. The history of General Motors has been one of ups and downs and ups, and that's what we're going to be looking at in this video.

General Motors Company was founded by William C. Durant in 1908 to merge several automotive companies that made Buick, Oldsmobile, Cadillac, Oakland (which was later known as Pontiac), Ewing, Marquette, as well as Reliance and Rapid trucks.

GM unveiled its Cadillac - an electric self-starter - commercially in 1912. That invention soon made the hand crank old-fashioned. GM kept its Detroit base and was reincorporated to General Motors Corporation in 1916. The Chevrolet automobile company and Delco Products became a part of GM in 1918, and in 1919, the Fisher Body Company and Frigidaire joined. Though they were later sold in 1979.

Durant was removed from the company in 1920 and was replaced by Alfred P. Sloan Jr., who served as president between 1923 to 1937. He later became the chairman of the board of directors from 1937 to 56. Sloan restructured GM from an uncoordinated growing collection of businesses into a single company comprised of five major automotive divisions: Cadillac, Buick, Pontiac, Oldsmobile, and Chevrolet. The activities of these divisions were regulated by a central corporate office equipped with a variety of advisory services and finance staff.

Every division maintained a significant amount of autonomy within a general policy framework. This decentralized management idea became the model for large industrial companies in the USA. Sloan also significantly reinforced GM's sales organization, with groundbreaking annual changes to the design of car models and, brought innovations in consumer finance.

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