The history of GM, the largest automaker in the world, began
in 1908. The company was founded by William Duran in 1902. The shrewd businessman that he was, Duran realized that the future lay with cars and not cars. Initially,Training the company was founded as a holding company for Buick . The last part of the year saw the acquiring company Oldsmobile , followed by the possession of Cadillac, Oakland and Elmer in the following year .
Many automakers were in dire straits during the difficult years of the asses . The stock market panic in 1907 put many small businesses in financial difficulties. Many of these companies were running on credit from various bankers Training. It was a golden opportunity for Duran, who proceeded to buy small car manufacturers , and companies that built car parts and car accessories. In 1908 , these companies were folded into a single unit , thus creating the new GM entity. This marked the beginning of the exciting true story of GM.
William Duran was a flamboyant businessman whose curious mix of genius and deeper took GM both to its heights and plunged into financial difficulties. In 1910 , banks were forced to intervene to prevent the financial collapse of GM, and Duran was removed from the company he had founded. But in 1911 , the company had made enough progress on the international market than General Motors Export Company was established to handle sales outside the United States and Canaan Training.
Duran managed to use another company he formed , Chevrolet, to return to power in GM in 1915 , and from 1915 to 1920 GM history is full of success. Meanwhile, the Cadillac became a great success. In 1918 , Training bought the operating assets of Chevrolet Motors. But soon America was hit by a power recession and in 1920 , Duran was out of business.
During the economic boom in the asses , the history of GM virtually glowed with success. Auto sales reached the milestone of 4.5 million , and the auto industry now had three giants - GM , Ford and Chrysler. GM now had a brilliant engineer turned industrialist at the helm. Alfred Sloan who was later recognized for his marketing genius has slowly climbed the ladder into the ranks of GM. His marketing genius breathed a fresh lease of life into GM that was beginning to upstaged by Ford Training.
Philosophy of giving the public the best value for money Ford offered little variety . But Sloan and GM were interested in providing the public more of a black box . In modern colors , performance and comfort became the new motto of the company. GM also made an offer of art - the public can now buy a car on credit . The five brands of GM - Pontiac , Cadillac , Buick , Oldsmobile and Chevrolet began changing every year the emphasis is directed mainly against the looks and style. This strategy has paid rich dividends . Ford was pushed to the backseat again by GM.
The great Wall Street crash in 1929 put an abrupt end to all GM expansion plans at this time. GM shares fell pretty bad. But in the early asses GM was recovered and bought the Yellow Coach bus company. In 1930 , GM bought Electro -Motive Corporation, the automaker's internal combustion engine . The next 20 years saw GM diesel locomotives operating under U.S. railroads . December 31, 1955 is another milestone in the history of GM. GM became the first company to earn more than a billion dollars a year .
There was a time in history when GM was the largest corporation in the United States. The history of GM also shows that there was a time when GM was the largest employer in the world . But lately , GM was plagued by financial difficulties. In November 2005 , GM book a loss of $ 4 billion and approximately 30,000 employees were laid off . 12 factories were collaborations .
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