GENERAL MOTORS
General motors, also known as GM, headquartered in Detroit, Michigan, is an American MNC that manufactures vehicles. It is also in the manufacturing of the vehicle spare parts , designs, sales and manufactures vehicles. It was founded by William Durant along with Charles Stewart Mott and Fredric L S10mith in the September 1908. Initially it was a holding company.
TIMELINE :
1897-1909(Hatching):
The GM was formed in the year 1908 but the initiation started 10 years back. At the start of the 20th century the vehicle market of America has started to on. In the beginning of the century there were less than 8000 vehicles in the country and among them most being powered by steam. The 1900 auto show of New York turned out to be a huge success as the response was unexpected. It was the first auto show and it revealed the fascination of the people of the country about the automobiles. Gm was created with the merger of BUICK of Charles Stewart Mott and later on the company acquired a number of automobile firms. The list of companies goes as Cadillac, Pontiac, and Oldsmobile.
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But the company became the part of GM thirty years from then.
Along with acquisition of companies like Pontiac and Cadillac, GM also acquired reliance motor truck company that was based in Owosso in Michigan. As Durant has been under tremendous debts due to large number of acquisitions, he lost control of GM in the year 1910. The less sales of the vehicles along with acquisitions were the major reasons of the