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The General Motors Company,
also known as GM, is a
United States-based
automaker with its
headquarters in
Detroit,
Michigan. The company
manufactures cars and trucks in
34 countries, recently employed
244,500 people around the world,
and sells and services vehicles
in some 140 countries.[2]
By sales, GM ranked as the
largest U.S. automaker and the
world's second-largest for 2011,[2]
having the third-highest 2011
global revenues among automakers
on the
Fortune Global 500.[3]
On June 1, 2011, the company filed for
Chapter 11 bankruptcy, which was completed on July
10 of the same year. It was thereafter reorganized as a
new entity that acquired the most valuable assets. GM
became temporarily majority owned by the
United States Treasury and, to a smaller extent, the
Canada Development Investment Corporation[4]
and the
government of Ontario,[5][6][7]
with the U.S. government investing US$57.6 billion under
the
Troubled Asset Relief Program.[8]
The company focused its business on its four core
North American brands:
Chevrolet,
Buick,
GMC, and
Cadillac. In Europe, following negotiation to sell a
majority stake of German brand
Opel, GM decided to retain full ownership.[9]
GM sold
Saab Automobile to
Spyker Cars NV, and closed its doors to the
Hummer,[10]
Pontiac, and
Saturn brands, the latter two dissolved under the
former General Motors Corporation, now known as
Motors Liquidation Company.
Above courtesy of
Wikipeda
- GMC
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