General Motors is a car manufacturer based in the United States of America. The business creates, manufactures, markets, and distributes vehicle parts and vehicles.
In addition, this company provides financial services, and its global headquarters are located in Detroit’s Renaissance Center. General Motors was founded in September 1908 under the name General Motors Corporation.
It was the largest automobile manufacturer in the world from 1931 to 2007. The company is currently ranked number 18 in the revenue rankings of the largest American corporations.
Cadillac, Chevrolet, GMC, and Buick are four of General Motors’ major automobile brands. Some foreign brands, such as Jiefang, Holden, and Wuling, are also owned by the company.
So, how well-versed are you in the world of General Motors? If not much, we’ve compiled everything you need to know about General Motors’ net worth in 2022, including a wiki and detailed information. So, if you’re ready, here’s everything we know about General Motors so far.
General Motors’ Net Worth and Earnings in 2022/2023
General Motors has grown significantly over the years to become one of the world’s largest automobile manufacturers. Through the subsidiaries they’ve acquired over the years, they’ve sold millions upon millions of units all over the world.
As a result, it should come as no surprise that their net worth is estimated to be $150 billion by 2022. They also have a number of assembly plants around the world, which has contributed significantly to their current net worth.
In the early 1900s, Durant and his partner, Charles founded General Motors with only the hope of it becoming a multinational corporation.
After many years, the company has grown to become one of the world’s largest and most prosperous automobile manufacturers. The company has branches all over the world, which has greatly aided in their expansion.
Inception and Formation
The company was founded in 1908 by William C. Durant and Charles Stewart Mott, and their first acquisition was Durant’s Buick. Durant went on to buy several other businesses before being booted out of the company by the board of directors in 1910.
The following year, he made a comeback by co-founding Chevrolet Motor Company. Following a Chapter 11 reorganization in 2009, General Motors Corporation sold its assets to the new General Motors.
The US Treasury was the first to invest in General Motors, investing $49.5 billion before selling their shares for $10.33 billion in December 2013. Treasury did not give up and continued to invest in the company, making a profit of $2.4 billion this time.
Evolution and Progression
General Motors has grown from its humble beginnings to become one of the world’s largest automobile manufacturers. The company sold 6.5 million cars around the world in 2009. The following year, they sold 8.39 million cars, a significant increase.
The total number of units produced in 2011 was 9.025 million, putting General Motors at the top of the list of the world’s most popular automobiles.
Despite the fact that the company’s headquarters are in Detroit, it operates all over the world. They have subsidiaries in various parts of the world, including North and South America.
In Europe, they introduced the Chevrolet brand in 2005, but after ten years, they phased it out and were replaced by Opel/Vauxhall. The European market for General Motors did not impress, as the company lost more than $15 billion in 16 years. They sold Opel/Vauxhall to PSA Group for $2.3 billion in March 2017.
In the Asian market, General Motors manufactures the majority of its vehicles locally in China. Their automobiles are in high demand in China, resulting in increased company growth.
The Chinese market accounted for 13.4% of the company’s total market in 2009. In 2010, they sold over 2.3 million units, increasing their market share to 28.8%.
The Indian market, in contrast to the company’s success in China, was a flop. They had first entered the market in 1996 and left in 2017. The company also suffered significant losses in the South Korean market, resulting in the sale of their Rayong plant to Great Wall Motors.
The company has been operating in Egypt since the 1920s in Africa. In 1999, General Motors purchased Federated Motors Industry in Nigeria.
General Motors East Africa is the company’s largest commercial vehicle assembly plant, which is located in Nairobi, Kenya (GMEA). The company first entered the Australian market in 1926, but unfortunately, it left in 2020.
Achievements & Awards
General Motors has been in the market for several decades and has won numerous awards during that time. The EPA Green Power Leadership Award and the Brandon Hall Group Gold Award are two of the most recent. To name a few accolades, the company was named the “Best Place to Work for LGBTQ Equality” in 2018.