general motor1

8/7/2019 General Motor1

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General Motors, also known as GM, is the world's second largest car manufacturer based on annual sales.[1]

Founded in 1908,

in Flint, Michigan, GM employs approximately 266,000 people around the world. With global headquarters at the Renaissance

Centerin Detroit, Michigan, United States, GM manufactures its cars and trucks in 35 countries. In 2008, 8.35 million GM cars and

trucks were sold globally under the

brands Vauxhall, Daewoo,Buick, Cadillac, Chevrolet, GMC, Holden, Pontiac, Hummer, Saab, Wuling.[2]

Saturn and Opel.

Contents

[hide]

1 History

21933 - 1958

o 2.1 World War II

o 2.2 Post-war growth

31958 - 1980

41981 - present

o 4.1 Production of SUVs and trucks vs. cars

o 4.2 Corporate restructuring

5 History of General Motors in various countries

o 5.1 General Motors in South Africa

o 5.2 General Motors in Argentina

6 Corporate spin-offs

o 6.1 Electronic Data Systems Corporation

o 6.2 Delco Electronics Corporation

o 6.3 Hughes Electronics Corporation

o 6.4 Delphi Corporation

o 6.5 Diesel engines

o 6.6 General Motors Acceptance Corporation

7 General Motors leadership

o 7.1 Chairmen of the Board of General Motors

o 7.2 Chief Executive Officers of General Motors

o 7.3 Vice Chairmen of General Motors

o 7.4 Presidents of General Motors

8 Criticism

o 8.1 Alleged collaboration with Nazi Germany


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o 8.2 Great American streetcar scandal

o 8.3 Corvair

o 8.4 Top-level management

o

8.5

EV1

9 See also

10 References

11 Further reading

12 External links

[edit]History

GM's headquarters from 1923 until 1996, a National Historic Landmark, is now Cadillac Place state office building.

General Motors was founded on Wednesday, September 16, 1908, in Flint, Michigan, as a holding company forBuick (then

controlled by William C. Durant).

Durant's company, the Durant-Dort Carriage Company, had been in business in Flint since 1886, and by 1900, was producing over

100,000 carriages a year in factories located in Michigan and Canada. Prior to his acquisition of Buick, Durant had several Ford

dealerships. With springs, axles and other key components being provided to the early automotive industry by Durant-Dort, it can be

reasoned that GM actually began with the founding of Durant-Dort.[3]

Durant acquired Oldsmobile later in 1908. The next year, he brought in Cadillac, Cartercar, Elmore, Ewing, and Oakland (later

known as Pontiac). In 1909, General Motors also acquired the Reliance Motor Truck Company ofOwosso, Michigan, and the Rapid

Motor Vehicle Company ofPontiac, Michigan, the predecessors ofGMC Truck. A Rapid became the first truck to conquerPikes

Peak in 1909. In 1910, Welch and Rainierwere added to the ever-growing list of companies controlled by GM. Durant lost control of

GM in 1910 to a bankers trust, due to the large amount of debt (around $1 million) taken on in its acquisitions.

Durant left the firm and co-founded the Chevrolet Motor Company in 1911 with Louis Chevrolet. After a brilliant stock buy back

campaign, he returned to head GM in 1916, with the backing ofPierre S. du Pont. On October 13 of the same year, GM Company

became incorporated as General Motors Corporation[4]

(reverting to General Motors Company[5]

upon emergence from bankruptcy in


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2009). Chevrolet entered the General Motors fold in 1917; its first GM car was 1918's Chevrolet 490. Du Pont removed Durant from

management in 1920, and various Du Pont interests held large or controlling share holdings until about 1950.

In 1918 GM purchased the McLaughlin Motor Car Company ofOshawa, Ontario, Canada, manufacturer of the McLaughlin-

Buick automobile since 1908 as well as Canadian versions of Chevrolet cars since 1915. The company was renamed General

Motors of Canada Ltd., with R.S. "Colonel Sam" McLaughlin as its first president and his brother George as vice-president.[6]

GM's headquarters were located in Flint until the mid-1920s when it was moved to Detroit. Its building, originally to be called the

Durant Building, was designed and began construction in 1919 when Durant was president, was completed in 1923 ( Sloan became

president that year) and officially dedicated as the General Motors Building in 1929.[7]

GM maintained this headquarters location,

now called Cadillac Place, until it purchased the Renaissance Centerin 1996.[8]

The Buick Division headquarters remained in Flint

until 1998 when it was relocated to the Renaissance Center.[9]

In 1925, GM bought Vauxhall of England, and then in 1929 went on to acquire an 80% stake in German automobile

manufacturerOpel. Two years later this was increased to 100%. In 1931, GM acquired Holden of Australia.

In 1926, GM created the Pontiac as a "companion" to the Oakland brand, an arrangement that lasted five years. The companion

outsold its parent during that period, by so much that the Oakland brand was terminated and the division was renamed Pontiac.

GM surpassed Ford Motor Company in sales in the late 1920s thanks to the leadership ofAlfred P. Sloan. While Ford continued to

refine the manufacturing process to reduce cost, Sloan was inventing new ways of managing a complex worldwide organization,

while paying special attention to consumer demands. Car buyers no longer wanted the cheapest and most basic model; they

wanted style, power, and prestige, which GM offered them. Sloan did not neglect cost, by any means; when it was proposed

Chevrolet should introduce safety glass, he opposed it because it threatened profits.[10]

Thanks to consumer

financing viaGMAC (founded 1919), easy monthly payments allowed far more people to buy GM cars than Ford, as Henry Ford was

opposed to credit on moral principles. (Nevertheless, Ford did offer similar credit arrangements with the introduction of the Model

A in the late 1920s but Ford Credit did not exist until 1959.)

At one time each of GM's automotive divisions in the United States was targeted to a specific market segment, and, despite some

shared components, each distinguished itself from its stablemates with unique styling and technology. The shared components and

common corporate management created substantial economies of scale, while the distinctions between the divisions created (in the

words of GM President Sloan) a "ladder of success", with an entry-level buyer starting out with a "basic transportation" Chevrolet,

rising through GMC, Pontiac, Oldsmobile, Buick, and ultimately toCadillac.

[edit]1933 - 1958

During the 1920s and 1930s, General Motors assumed control of the Yellow Coachbus company, and helped create Greyhound

bus lines. They replaced intercity train transport with buses, and established subsidiary companies to buy out streetcarcompanies

and replace the rail-based services as well with buses. GM formed United Cities Motor Transit in 1932 (see Great American

streetcar scandalfor additional details).


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In 1930, GM also began its foray into aircraft design and manufacturing by buying Fokker Aircraft Corp of America (U.S. subsidiary

ofFokker) and Berliner-Joyce Aircraft, merging them into General Aviation Manufacturing Corporation. Through a stock exchange

GM took controlling interest in North American Aviation and merged it with its General Aviation division in 1933, but retaining the

name North American Aviation. In 1948, GM divested NAA as a public company, never to have a major interest in the aircraft

manufacturing industry again.

General Motors bought the internal combustion enginedrailcarbuilder Electro-Motive Corporation and its engine supplierWinton

Engine in 1930, renaming both as the General Motors Electro-Motive Division. Over the next twenty years, diesel-powered

locomotives the majority built by GM largely replaced other forms of traction on American railroads. (During World War II,

these engines were also important in American submarines and destroyer escorts.) Electro-Motive was sold in early 2005.

In 1935, the United Auto Workerslabor union was formed, and in 1936 the UAW organized the Flint Sit-Down Strike, which initially

idled two key plants in Flint, but later spread to half-a-dozen other plants including Janesville, Wisconsin and Fort Wayne, Indiana.

In Flint, police attempted to enter the plant to arrest strikers, leading to violence; in other cities the plants were shuttered peacefully.

The strike was resolved February 11, 1937 when GM recognized the UAW as the exclusive bargaining representative for its

workers.

[edit]World War II

General Motors produced vast quantities of armaments, vehicles, and aircraft during World War II for both Allied and Axis

customers. By the spring of 1939, the German Government had assumed day-to-day control of American owned factories in

Germany, but decided against nationalizing them. During the war, the U.S. auto companies continued to be concerned Nazi

Germany would nationalize American-owned factories.[citation needed]

GM's William S. Knudsen served as head of U.S. wartime production forPresidentFranklin Roosevelt, who

called Detroit the Arsenal of Democracy. The General Motors UK division, Vauxhall Motors, manufactured the Churchill tank series

for the Allies. The Vauxhall Churchill tanks were instrumental in the UK campaigns in North Africa (ironically often being used to

attack German logistics units using Opel trucks). Bedford Vehicles manufactured logistics vehicles for the UK military, all important

in the UK's land campaigns. In addition, GM was the top manufacturer of U.S. Army 1 ton 4x4 vehicles.[11]

Nevertheless, while General Motors has claimed its German (Opel) operations were outside its control during World War II, this

assertion appears to be contradicted by available evidence. General Motors was not just a car company that happened to have

factories in Germany; GM management from the top down had extensive connections with the Nazi Party, both on a business and

personal level.[12]

During war Opel's Brandenburg facilities produced bombers JU-88, trucks, land mines and torpedodetonators for

Nazi Germany.[13]

During the war years GM declared it had abandoned its Nazi subsidiary, and took a complete tax write-off

because of which they have received tax reduction of "approximately $22.7 million" or about $285 billion in 21st-century money.

After the war GM collected some $33 million in "war reparations" because the Allies had bombed its German facilities[14]

for which

they have earlier declared complete tax write-off and received tax reduction.

American GM Vice President (later Colonel) Graeme K. Howard was a committed Nazi, and expressed such views in his

book, America and a New World Order. Adolf Hitlerawarded GM boss James D. Mooney the Order of Merit of the Golden Eagle for


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his services to Nazi Germany.[citation needed]

General Motors internal documents show a clear strategy to profit from their German

military contracts even after Germany declared war against America.[citation needed]

Defending the German investment strategy as "highly profitable", Alfred P. Sloan told shareholders in 1939 GM's continued

industrial production for the Nazi government was merely sound business practice. In a letter to a concerned shareholder, Sloan

said that the manner in which the Nazi government ran Germany "should not be considered the business of the management of

General Motors...We must conduct ourselves as a German organization. . . We have no right to shut down the plant."[15]

After 20 years of researching General Motors, Bradford Snell stated, "General Motors was far more important to the Nazi war

machine than Switzerland ... Switzerland was just a repository of looted funds. GM-Opel was an integral part of the German war

effort. The Nazis could have invaded Poland and Russia without Switzerland. They could not have done so without GM."[15]

[edit]Post-war growth

At one point GM had become the largest corporation registered in the United States, in terms of its revenues as a percent of GDP.

In 1953, Charles Erwin Wilson, then GM president, was named byEisenhoweras Secretary of Defense. When he was asked during

the hearings before the Senate Armed Services Committee if as secretary of defense he could make a decision adverse to the

interests of General Motors, Wilson answered affirmatively but added that he could not conceive of such a situation "because for

years I thought what was good for the country was good for General Motors and vice versa". Later this statement was often

misquoted, suggesting that Wilson had said simply, "What's good for General Motors is good for the country."[citation needed]

At the time, GM was one of the largest employers in the world only Soviet state industries employed more people. In 1955,

General Motors became the first American corporation to pay taxes of over $1 billion.[16]

[edit]1958 - 1980

By 1958, the divisional distinctions within GM began to blur with the availability of high-performance engines

in Chevrolets and Pontiacs.[citation needed]

The introduction of higher trim models such as theChevrolet Impala and Pontiac

Bonneville priced in line with some Oldsmobile and Buick offerings was also confusing to consumers. By the

time Pontiac, Oldsmobile and Buick introduced similarly styled and priced compact models in 1961, the old "step-up" structure

between the divisions was nearly over.

A classic General Motors muscle car, the 1969 Pontiac GTO


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The decade of the 1960s saw the creation of compact and intermediate classes. The Chevrolet Corvairwas a flat 6-cylinder (air

cooled) answer to theVolkswagen Beetle, the Chevy II was created to match Ford's conventional Falcon, after sales of the Corvair

failed to match its Ford rival, and the Chevrolet Camaro/Pontiac Firebird was GM's countermeasure to the Ford Mustang. Among

intermediates, the Oldsmobile Cutlass nameplate became so popular during the 1970s that Oldsmobile applied the Cutlass name to

most of its products in the 1980s. By the mid 1960s, most of GM's vehicles were built on a few common platforms and in the 1970s

GM began to further unify body panel stampings.

The 1971 Chevrolet Vega was GM's launch into the new subcompact class to compete against the import's increasing market

share. Problems associated with its innovative aluminum engine led to the model's discontinuation after seven model years in 1977.

During the late 1970s, GM would initiate a wave of downsizing starting with the Chevrolet Caprice which was reborn into what was

the size of the Chevrolet Chevelle, the Malibu would be the size of the Nova, and the Nova was replaced by the troubled front-wheel

drive Chevrolet Citation. In 1976, Chevrolet came out with the rear-wheel drive sub compact Chevette.

While GM maintained its world leadership in revenue and market share throughout the 1960s to 1980s, it was product controversy

that plagued the company in this period. It seemed that, in every decade, a major mass-production product line was launched with

defects of one type or another showing up early in their life cycle. And, in each case, improvements were eventually made to

mitigate the problems, but the resulting improved product ended up failing in the marketplace as its negative reputation

overshadowed its ultimate excellence.

The first of these fiascos was the Chevrolet Corvairin the 1960s. Introduced in 1959 as a 1960 model, it was initially very popular.

But before long its quirky handling earned it a reputation for being unsafe, inspiring consumer advocate Ralph Naderto lambaste it

in his book, Unsafe at any Speed, published in 1965. Ironically, by the same (1965) model year, suspension revisions and other

improvements had already transformed the car into a perfectly acceptable vehicle, but its reputation had been sufficiently sullied in

the public's perception that its sales sagged for the next few years, and it was discontinued after the 1969 model year. During this

period, it was also somewhat overwhelmed by the success of the Ford Mustang.

The 1970s was the decade of the Vega. Launched as a 1971 model, it also began life as a very popular car in the marketplace. But

within a few years, quality problems, exacerbated by labor unrest at its main production source in Lordstown, Ohio, gave the car a

bad name. By 1977 its decline resulted in termination of the model name, while its siblings along with a Monza version and a move

of production to Ste-Thrse, Quebec, resulted in a thoroughly desirable vehicle and extended its life to the 1980 model year.

Oldsmobile sales soared in the 1970s and 1980s (for an all-time high of 1,066,122 in 1985) based on popular designs, positive

reviews from critics and the perceived quality and reliability of the Rocket V8 engine, with the Cutlass series becoming North

America's top selling car by 1976. By this time, Olds had displaced Pontiac and Plymouth as the #3 best selling brand in the U.S.

behind Chevroletand Ford. In the early 1980s, model-year production topped one million units on several occasions, something only

Chevrolet and Ford had achieved. The soaring popularity of Oldsmobile vehicles resulted in a major issue in 1977, as demand

exceeded production capacity for the Oldsmobile V8, and as a result Oldsmobile quietly began equipping some full size Delta 88

models and the very popular Cutlass/Cutlass Supreme with the Chevrolet 350 engine instead (each division of GM produced its own

350 V8 engine). Many customers were loyal Oldsmobile buyers who specifically wanted the Rocket V8, and did not discover that


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their vehicle had the Chevrolet engine until they performed maintenance and discovered that purchased parts did not fit. This led to

a class-action lawsuit which became a public relations nightmare for GM.[17][18]

Following this debacle, disclaimers stating that

"Oldsmobiles are equipped with engines produced by various GM divisions" were tacked on to advertisements and sales literature;

all other GM divisions followed suit. In addition, GM quickly stopped associating engines with particular divisions, and to this day all

GM engines are produced by "GM Powertrain" (GMPT) and are called GM "Corporate" engines instead of GM "Division" engines.

Although it was the popularity of the Oldsmobile division vehicles that prompted this change, declining sales of V8 engines would

have made this change inevitable as all but the Chevrolet (and, later, Cadillac's Northstar) versions were eventually dropped.

In the 1980 model year, a full line of automobiles on the X-body platform, anchored by the Chevrolet Citation, was launched. Again,

these cars were all quite popular in their respective segments for the first couple of years, but brake problems, and other defects,

ended up giving them, known to the public as "X-Cars", such a bad reputation that the 1985 model year was their last. The J-

body cars, namely the Chevrolet Cavalierand Pontiac Sunbird, took their place, starting with the 1982 model year. Quality was

better, but still not exemplary, although good enough to survive through three generations to the 2005 model year. They were

produced in a much-improved Lordstown Assembly plant, as are their replacements, the Chevrolet Cobalt and Pontiac Pursuit/G5.

[edit]1981 - present

Roger B. Smith served as CEO throughout the 1980s. GM profits struggled from 1981-83 following the late 1970s and early 1980s

recession. In 1981, the UAW negotiated some concessions with the company in order to bridge the recession. GM profits

rebounded during the 1980s. During the 1980s, GM had downsized its product line and invested heavily in automated

manufacturing. It also created the Saturn brand to produce small cars. GM's customers still wanted larger vehicles and began to

purchase greater numbers of SUVs. Roger Smith's reorganization of the company had been criticized for its consolidation of

company divisions and its effect on the uniqueness of GM's brands and models. His attempts to streamline costs were not always

popular with GM's customer base. In addition to forming Saturn, Smith also negotiated joint ventures with two Japanese companies

(NUMMI in California with Toyota, and CAMI with Suzuki in Canada). Each of these agreements provided opportunities for the

respective companies to experience different approaches.

The decade of the 1990s began with an economic recession, taking its inevitable toll on the automotive industry, and throwing GM

into some of its worst losses. As a result, "Jack" Smith (not related to Roger) became burdened with the task of overseeing a radical

restructuring of General Motors. Sharing Roger's understanding of the need for serious change, Jack undertook many major

revisions. Reorganizing the management structure to dismantle the legacy ofAlfred P. Sloan, instituting deep cost-cutting and

introducing significantly improved vehicles were the key approaches. These moves were met with much less resistance within GM

than had Roger's similar initiatives as GM management ranks were stinging from their recent near-bankruptcy experience and were

much more willing to accept the prospect of radical change.

Following the first Gulf War and a recession GM's profits again suffered from 1991-93. For the remainder of the decade the

company's profits rebounded and it made market share gains with the popularity of its SUVs and pick-up truck lines. Rick

Wagonerhad served as the company's Chief Financial Officer during this period in the early 1990s. GM's foreign rivals gained

market share especially following U.S. recessionary periods while the company recovered. U.S. trade policy and foreign trade


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barriers became a point of contention for GM and other U.S. automakers who had complained that they were not given equal

access to foreign markets. Trade issues had prompted the Reagan administration to seek import quotas on some foreign

carmakers. Later, the Clinton administration engaged in trade negotiations to open foreign markets to U.S. automakers with the

Clinton administration threatening trade sanctions in efforts to level the playing field for U.S. automakers.[19]

Jos Ignacio ("Inaki") Lpez de Arriorta, who worked under Jack Smith in both Europe and the United States, was poached

by Volkswagen in 1993, just hours before Smith announced that Lpez would be promoted to head of GM's North American

operations. He was nicknamed Super Lpez for his prowess in cutting costs and streamlining production at GM, although critics said

that his tactics angered longtime suppliers. GM accused Lpez of misappropriating trade secrets, in particular taking documents of

future Opel vehicles, when he accepted a position with VW. German investigators began a probe of Lopez and VW after

prosecutors linked Lopez to a cache of secret GM documents discovered by investigators in the apartment of two of Lopez's VW

associates. VW, faced with a plummeting stock price, eventually forced Lopez to resign.[20]

GM and Volkswagen since reached a

civil settlement, in which Volkswagen agreed to pay GM $100 million and to buy $1 billion worth of parts from GM.[21]

After GM's lay-offs in Flint, Michigan, a strike began at the General Motors parts factory in Flint on June 5, 1998, which quickly

spread to five other assembly plants and lasted seven weeks. Because of the significant role GM plays in the United States, the

strikes and temporary idling of many plants noticeably showed in national economic indicators.

In the early 1990s, following first Gulf War and a recession, GM had taken on more debt. By the late 1990s, GM had regained

market share; its stock had soared to over $80 a share by 2000. However, in 2001, the stock market drop following the September

11, 2001 attacks, combined with historic pension underfunding, caused a severe pension and benefit fund crisis at GM and many

other American companies and the value of their pension funds plummeted.

[edit]Production of SUVs and trucks vs. cars

In the late 1990s, the U.S. economy was on the rise and GM and Ford gained market share producing enormous profits primarily

from the sale of light trucks and sport-utility vehicles.

Following the September 11 attacks, a severe stock market decline caused a pension and benefit fund underfunding crisis. GM

began its Keep America Rollingcampaign, which boosted sales, and other auto makers were forced to follow suit. The U.S.

automakers saw sales increase to leverage costs as gross margins deteriorated.

In 2004, GM redirected resources from the development of new sedans to an accelerated refurbishment of their light trucks

and SUVs for introduction as 2007 models in early 2006. Shortly after this decision, fuel prices increased by over 50% and this in

turn affected both the trade-in value of used vehicles and the perceived desirability of new offerings in these market segments. The

current marketing plan is to tout these revised vehicles extensively as offering the best fuel economy in their class (of vehicle). GM

claims its hybrid trucks will have fuel economy improvements of 25%.[citation needed]

[edit]Corporate restructuring

See also: List of GM factories andGeneral Motors Chapter 11 reorganization

Wikinews has related


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news:GM Chapter 11 news

After gaining market share in the late 1990s and making enormous profits, General Motors stock soared to over $80 a share. From

June 1999 to September 2000, the Federal Reserve, in a move to quell potential inflationary pressures created by, among other

things, the stock market, made successive interest rate increases, credited in part for "plunging the country into a

recession."[22][23]

The recession and the volatile stock marketed created a pension and benefit fund crisis at General Motors and

many other American companies. General Motors' rising retiree health care costs and Other Post Employment Benefit (OPEB) fund

deficit prompted the company to enact a broad restructuring plan. Although GM had already taken action to fully fund its pension

plan, its OPEB fund became an issue for its corporate bond ratings. GM had expressed its disagreement with the bond ratings;

moreover, GM's benefit funds were performing at higher than expected rates of return. Then, following a $10.6 billion loss in 2005,

GM acted quickly to implement its restructuring plan. For the first quarter of 2006 GM earned $400 million, signaling that a

turnaround had already begun even though many aspects of the restructuring plan had not yet taken effect.

In 2003, GM responded to the crisis by fully funding its pension fund with a $15 B payment; however, its Other Post Employment

Benefits Fund (OPEB) became a serious issue resulting in downgrades to its bond rating in 2005. The company expressed its

disagreement with these bond rating downgrades. In the late 1990s, the U.S. economy was on the rise and GM and Ford gained

market share producing enormous profits primarily from the sale of light trucks and sport-utility vehicles. Following the September

11, 2001 attacks, a severe stock market decline caused a pension and benefit fund underfunding crisis. GM began its Keep America

Rollingcampaign, which boosted sales, and other auto makers were forced to follow suit. The U.S. automakers saw sales increase

to leverage costs as gross margins deteriorated. Although retiree health care costs remain a significant issue, General Motors'

investment strategy has generated a $17.1 billion surplus in 2007 in its $101 billion U.S. pension fund portfolio, a $35 billion reversal

from its $17.8 billion of underfunding.[24]

In February 2005, GM successfully bought itself out of a put option with Fiat for $2 billion USD (1.55 billion). In 2000, GM had sold

a 6% stake to Fiat in return for a 20% share in the Italian automaker. As part of the deal, GM granted Fiat a put option, which, if the

option had been exercised between January 2004 and July 2009, could have forced GM to buy Fiat. GM had agreed to the put

option at the time, perhaps to keep it from being acquired by another automaker, such as Daimler AG, competing with GM's German

subsidiary Opel. The relationship suffered and Fiat had failed to improve. In 2003, Fiat recapitalized, reducing GM's stake to 10%.

In February 2006, GM slashed its annual dividend from $2.00 to $1.00 per share. The reduction saved $565 million a year. In March

2006, GM divested 92.36 million shares (reducing its stake from 20% to 3%) of Japanese manufacturer Suzuki, in order to raise

$2.3 billion. GM originally invested in Suzuki in the early 1980s.

On March 23, 2006, a private equity consortium including Kohlberg Kravis Roberts, Goldman Sachs Capital, and Five Mile

Capital purchased $8.8 billion, or 78% ofGMAC's commercial mortgage arm. The name of the new entity, in which GMAC owns a

21% stake, is Capmark Financial Group.[25]

On April 3, 2006, GM announced that it would sell 51% of GMAC as a whole to a consortium led by Cerberus Capital Management,

raising $14 billion over three years. Investors also includedCitigroup's private equity arm and Aozora Bank of Japan. The group will


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pay GM $7.4 billion in cash at closing. GM will retain approximately $20 billion in automobile financing worth an estimated $4 billion

over three years.

GM sold its remaining 8% stake in Isuzu, which had peaked at 49% just a few years earlier,[26]

on April 11, 2006, to raise an

additional $300 million.[27]

12,600 workers from Delphi, a key supplier to GM, agreed to buyouts and an early retirement plan offered

by GM in order to avoid a strike, after a judge agreed to cancel Delphi's union contracts. 5,000 Delphi workers were allowed to flow

to GM.

In 2006, GM offered buyouts to hourly workers to reduce future liability; over 35,000 workers responded to the offer, well exceeding

the company's goal. GM gained higher rates of return on its benefit funds as a part of the solution. Stock value began to rebound -

as of October 30, 2006 GM's market capitalization was about $19.19 billion. GM stock began the year 2006 at $19 a share, near its

lowest level since 1982, as many on Wall Street figured the ailing automaker was bound forbankruptcy court. But GM remained

afloat and the company's stock in the Dow Jones industrial average posted the biggest percentage gain in 2006.[28]

In June 2007, GM sold its military and commercial subsidiary, Allison Transmission, for $5.6 billion. Having sold off the majority, it

will, however, keep its heavy-duty transmissions for its trucks marketed as the Allison 1000 series.

During negotiations for the renewal of its industry labor contracts in 2007, the United Auto Workers (UAW) union selected General

Motors as the "lead company" or "strike target" forpattern bargaining. Late in September, sensing an impending impasse in the

talks, the union called a strike, the first nation-wide walkout since 1970 (individual plants had experienced local labor disruptions in

the interim). Within two days, however, a tentative agreement was achieved and the strike ended.

On June 28, 2007, GM agreed to sell its Allison Transmission division to private-equity firms Carlyle Group and Onex for $5.1 billion.

The deal will increase GM's liquidity and echoes previous moves to shift its focus towards its core automotive business. The two

firms will control seven factories around Indianapolis but GM will retain management of a factory in Baltimore. Former Allison

Transmission president Lawrence E. Dewey will be the new CEO of the standalone company.[29]

Kirk Kerkorian once owned 9.9 percent of GM. According to press accounts from June 30, 2006, Kerkorian suggested

that Renault acquire a 20 percent stake in GM to rescue GM from itself. A letter from Tracinda to Rick Wagonerwas released to the

public[30]

to pressure GM's executive hierarchy,[31]

but talks failed.[32]

On November 22, 2006, Kerkorian sold 14 million shares of his

GM stake (it is speculated that this action was due to GM's rejection of Renault and Nissan's bids for stakes in the company as both

of these bids were strongly supported by Kerkorian); the sale resulted in GM's share price falling 4.1% from its 20 November price,

although it remained above $30/share.[33]

The sale lowered Kerkorian's holding to around 7% of GM. On November 30,

2006, Tracinda said it had agreed to sell another 14 million shares of GM, cutting Kerkorian's stake to half of what it had been earlier

that year.[34]

By the end of November 2006, he had sold substantially all of his remaining GM shares.[35]

After Kerkorian sold, GM lost

more than 90% of its value, falling as low as $1/share by May 2009.[36]

On February 12, 2008, GM announced its operating loss was $2 billion (with a GAAP loss of $39 billion including a one time

accounting charge). GM offered buyouts to all its UAW members.


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On March 24, 2008, GM reported a cash position of $24 billion, or $6 billion less than what was on hand September 31, 2007,[dubious

discuss]which is a loss of $1 billion a month.

[37]A further quarterly loss of $15.5 billion, the third-biggest in the company's history, was

announced on August 1, 2008.[38]

On November 17, 2008, GM announced it would sell its stake in Suzuki Motor Corp. (3.02%) for 22.37 billion yen ($230 million)[39]

in

order to raise much needed cash to get through the 2008 economic crisis.

In 2008, 8.35 million GM cars and trucks were sold globally under the brands Vauxhall, Buick, Cadillac, Chevrolet, GMC, GM

Daewoo, Holden, Pontiac, Hummer, Saab, Saturn, Wuling[2]

and Opel of Germany.

In late 2008 GM, along with Chrysler, received loans from the American, Canadian, and Ontarian governments to bridge the late-

2000s recession, record oil prices, and a severe global automotive sales decline (see also automotive industry crisis of 20082009)

due to the global financial crisis of 20082009. On February 20, 2009, GM's Saab division filed for reorganization in a Swedish

court after being denied loans from the Swedish government.[40][41]

On April 27, 2009, GM announced that it would phase out the Pontiac brand by the end of 2010 and focus on four core brands in

North America: Chevrolet, Cadillac, Buick, and GMC. It announced that the resolution (sale) of its Hummer, Saab,

and Saturn brands would take place by the end of 2009. (By November, however, proposed deals to sell Saturn to Penske and

Saab to Koenigsegg had failed to materialize.) The company had previously cancelled Oldsmobile.

On May 30, 2009, it was announced that a deal had been reached to transfer GM's Opel assets to a separate company, majority-

owned by a consortium led by Sberbank of Russia (35%), Magna International (20%), and Opel employees (10%). GM is expected

to keep a 35% minority stake in the new company.[42]

However, GM delayed acceptance of the deal pending other bids, notably a

proposed 51% stake by Beijing Automotive. By early July, a decision had not been made, but Magna remained confident and

scheduled a meeting for July 14 to announce its acceptance.[43]

After months of deliberation, however, GM decided on November 3,

2009 to retain full ownership of the German carmaker Opel, thus voiding the tentative deal with the Magna consortium.[44]

In June 2010, the company established General Motors Ventures, a subsidiary designed to help the company identify and develop

new technologies in the automotive and transportation sectors.[45]

[edit]History of General Motors in various countries

[edit]General Motors in South Africa

Main article: General Motors South Africa

General Motors was criticized for its presence in apartheid South Africa. The company withdrew after pressure from consumers,

stockholders and Leon H. Sullivan.[46]

It retained a commercial presence, however, in the form of its Opel subsidiary. Right Hand

Drive Opel & Vauxhall production took place in GM's Uitenhage plants outside Port Elisabeth in the eastern Cape Province, and

does so to this day.

[edit]General Motors in Argentina

In 1925 General Motors settled down in Argentina and started producing the Double Phaeton standard and the Double Phaeton

called "Especial Argentino". The production was completed with a sedan model, a roadster and a truck chassis also adaptable to


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transporting of passengers. Sales increased and soon the Oldsmobile, Oakland and Pontiac brands were incorporated into the

assembly line; the capacity of the facility was not enough to supply the increasing demand and the building of a new plant was

required. A new 48,000 m2 plant with a covered area was opened in 1929, and since then the Buick, Marquette, La Salle, Cadillac,

Vauxhaul and Opel marques also started to be produced.

When the Second World War broke out the operations were complicated. In 1941, 250.000 Chevrolets were made, but shortage of

parts made car production impossible. The last Chevrolet left the plant in August, 1942.[47]

though in order to avoid total stoppage,

the company made electrical and portable refrigerators and car accessories in addition to other items. After the war, GM started

producing the Oldsmobile and Pontiac lines and later Chevrolet was added.

Production resumed in 1960 with Chevrolet pickups and shortly thereafter in 1962 it started assembling the first/second generation

Chevy II until 1974 as Chevrolet 400, and the early third-generation (1968 model) Nova as the Chevrolet Chevy from late 1969

through 1978, both models overlapping for several years, the Chevy II marketed as a family sedan while the Nova as a sporty

alternative. Thenceforth several Opel models and Chevrolet pickups are being manufactured.

[edit]Corporate spin-offs

[edit]Electronic Data Systems Corporation

Main article: Electronic Data Systems

In 1984, GM acquired Electronic Data Systems Corporation (EDS), a leading data processing and telecommunications company, to

be the sole provider ofinformation technology (IT) services for the company. EDS became independent again in 1996, signing a 10-

year agreement to continue providing IT services to General Motors.[48]

[edit]Delco Electronics Corporation

Delco Electronics Corporation was the automotive electronics design and manufacturing subsidiary ofGeneral Motors.

The name Delco came from the Dayton Engineering Laboratories Co., founded in Dayton, Ohio by Charles Kettering and Edward

A. Deeds.

Delco was responsible for several innovations in automobile electric systems, including the first reliable battery ignition system and

the first practical automobile self starter.

In 1936 Delco began producing the first dashboard-installed car radios. By the early 1970s Delco had become a major supplier of

automotive electronics equipment. Based in Kokomo, Indiana, Delco Electronics employed more than 30,000 at its peak.

In 1962 GM created the General Motors Research Laboratories, based in Santa Barbara, California, to conduct research and

development activities on defense systems. This organization was eventually merged into Delco Electronics and renamed Delco

Systems Operations.

In 1985 General Motors purchased Hughes Aircraft and merged it with Delco Electronics to form Hughes Electronics Corporation,

an independent subsidiary. In 1997 all of the defense businesses of Hughes Electronics (including Delco Systems Operations) were

merged with Raytheon, and the commercial portion of Delco Electronics was transferred to GM's Delphi Automotive


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Systems business. Delphi became a separate publicly-traded company in May 1999, and continued to use the Delco Electronics

name for several of its subsidiaries through approximately 2004.

Although Delco Electronics no longer exists as an operating company, GM still retains rights to the Delco name and uses it for some

of its subsidiaries including the AC Delco parts division.

[edit]Hughes Electronics Corporation

Hughes logo, adopted after its new owner General Motors

Main article: Hughes Aircraft

Hughes Electronics Corporation was formed on December 31, 1985 when Hughes Aircraft Company was sold by the Howard

Hughes Medical Institute to General Motors for $5.2 billion. General Motors merged Hughes Aircraft with its Delco Electronics unit to

form Hughes Electronics Corporation, an independent subsidiary. This division was a major aerospace and defense contractor,

civilian space systems manufacturer and communications company. The aerospace and defense business was sold to Raytheon in

1997 and the Space and Communications division was sold to Boeing in 2000. Hughes Research Laboratories became jointly

owned by GM, Raytheon, and Boeing. In 2003, the remaining parts of Hughes Electronics were sold to News Corporation and

renamed DirecTV Group.

[edit]Delphi Corporation

Main article: Delphi (auto parts)

Delphi Corp. logo

Delphi was spun off from General Motors on May 28, 1999. Delphi is one of the largest automotive parts manufacturers and has

approximately 185,000 employees (50,000 in the United States). With offices worldwide, the company operates 167 wholly owned

manufacturing sites, 41 joint ventures, 53 customer centers and sales offices, and 33 technical centers in 38 countries. Delphi

makes the Monsoon premium audio systems found in some GM and other manufacturer automobiles.

On October 8, 2005, Delphi filed forChapter 11 bankruptcy. On March 31, 2006, Delphi announced it would sell off or close 21 of its

29 plants in the United States.

[edit]Diesel engines

Detroit Diesel was originally the GM Diesel Division then Detroit Diesel Allison Division until 1988. It made diesel engines for truck,

generating set and marine use.


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Electro-Motive Diesel (EMD) was originally the Electro-Motive Division of GM, until 2005. It made diesel engines and locomotives.

See also General Motors Diesel Division and GM Defense.

[edit]General Motors Acceptance Corporation

By the end of 2006, GM had completed the divestiture of 51% of its financing unit, GMAC. Currently GM is a 10% owner in GMAC.

[edit]General Motors leadership

[edit]Chairmen of the Board of General Motors

Chairmen of the Board of General Motors[49]

Thomas Neal -- November 19, 1912 - November 16, 1915

Pierre S. du Pont -- November 16, 1915 - February 7, 1929

Lammot du Pont II -- February 7, 1929 - May 3, 1937

Alfred P. Sloan, Jr. -- May 3, 1937 - April 2, 1956

Albert Bradley -- April 2, 1956 - August 31, 1958

Frederic G. Donner-- September 1, 1958 - October 31, 1967

James M. Roche -- November 1, 1967 - December 31, 1971

Richard C. Gerstenberg -- January 1, 1972 - November 30, 1974

Thomas A. Murphy -- December 1, 1974 - December 31, 1980

Roger B. Smith -- January 1, 1981 - July 31, 1990

Robert C. Stempel -- August 1, 1990 - November 1, 1992

John G. Smale -- November 2, 1992 - December 31, 1995

John F. "Jack" Smith, Jr. -- January 1, 1996 - April 30, 2003

G. Richard Wagoner, Jr. -- May 1, 2003 - March 30, 2009

Kent Kresa -- March 30, 2009 - July 10, 2009

Edward ("Ed") Whitacre, Jr. -- July 10, 2009 December 31, 2010 [50]

Dan Akerson -- December 31, 2010 present[51][edit]ChiefExecutive Officers of General Motors

Chief Executive Officers of General Motors[52]

Alfred P. Sloan, Jr. -- May 10, 1923 - June 3, 1946

Charles E. Wilson -- June 3, 1946 - January 26, 1953

Harlow H. Curtice -- February 2, 1953 - August 31, 1958

James M. Roche -- November 1, 1967 - December 31, 1971

Richard C. Gerstenberg -- January 1, 1972 - November 30, 1974


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Thomas A. Murphy -- December 1, 1974 - December 31, 1980

Roger B. Smith -- January 1, 1981 - July 31, 1990

Robert C. Stempel -- August 1, 1990 - November 1, 1992

John F. "Jack" Smith, Jr. -- November 2, 1992 - May 31, 2000

G. Richard Wagoner, Jr. -- June 1, 2000 - March 30, 2009

Frederick A. "Fritz" Henderson -- March 30, 2009 - December 1, 2009 [53]

Edward ("Ed") Whitacre, Jr. -- December 1, 2009 September 1, 2010 [54]

Dan Akerson -- September 1, 2010 present[55][edit]Vice Chairmen of General Motors

Vice Chairmen of General Motors[52]

Donaldson Brown -- May 3, 1937 - June 3, 1946

George Russell -- November 1, 1967 - March 31, 1970

Richard C. Gerstenberg -- April 6, 1970 - December 31, 1971

Thomas A. Murphy -- January 1, 1972 - November 30, 1974

Richard L. Terrell -- October 1, 1974 - January 1, 1979

Oscar A. Lundin -- December 1, 1974 - November 30, 1975

Howard H. Kerhl -- February 1, 1981 - December 31, 1986

Donald J. Atwood -- June 1, 1987 - April 19, 1989

John F. "Jack" Smith, Jr. -- August 1, 1990 - April 6, 1992

Robert J. Schultz -- August 1, 1990 - November 1, 1992

Harry J. Pearce -- January 1, 1996 - May 25, 2001

John M. Devine -- January 1, 2001 - June 1, 2006

Robert A. Lutz -- September 1, 2001present

Frederick A. "Fritz" Henderson -- January 1, 2006 - March 3, 2008[edit]Presidents of General Motors

Presidents of General Motors[56]

George E. Daniels -- September 22, 1908 - October 20, 1908

William M. Eaton -- October 20, 1908 - November 23, 1910

James J. Storrow -- November 23, 1910 - January 26, 1911

Thomas Neal -- January 26, 1911 - November 19, 1912

Charles W. Nash -- November 19, 1912 - June 1, 1916

William C. Durant -- June 1, 1916 - November 30, 1920


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Pierre S. du Pont -- November 30, 1920 - May 10, 1923

Alfred P. Sloan, Jr. -- May 10, 1923 - May 3, 1937

William S. Knudsen -- May 3, 1937 - September 3, 1940

Charles E. Wilson -- January 6, 1941 - January 26, 1953

Harlow H. Curtice -- February 2, 1953 - August 31, 1958

John F. Gordon -- September 1, 1958 - May 31, 1965

James M. Roche -- June 1, 1965 - October 31, 1967

Edward N. Cole -- November 1, 1967 - September 30, 1974

Elliott M. Estes -- October 1, 1974 - January 31, 1981

F. James McDonald -- February 1, 1981 - August 31, 1987

Robert C. Stempel -- September 1, 1987 - July 31, 1990

Lloyd E. Reuss -- August 1, 1990 - April 6, 1992

John F. "Jack" Smith, Jr. -- April 6, 1992 - October 5, 1998

G. Richard Wagoner, Jr. -- October 5, 1998 - April 30, 2003

Frederick A. "Fritz" Henderson -- March 3, 2008 - December 1, 2009 [57]

[edit]Criticism

[edit]Alleged collaboration with Nazi Germany

In August 1938, a senior executive for General Motors, James D. Mooney, received the Grand Cross of the German Eagle for his

distinguished service to the Reich. "Nazi armaments chiefAlbert Speertold a congressional investigator that Germany could not

have attempted its September 1939 Blitzkrieg of Poland without the performance-boosting additive technology provided by Alfred P.

Sloan and General Motors".[58][59][60]

Charles Levinson, formerly deputy director of the European office of the CIO, alleged in his book, "Vodka-Cola":[61]

"Alfred P. Sloan, James D. Mooney, John T. Smith and Graeme K. Howard remained on the General Motors- Opel board . . . in

flagrant violation of existing legislation, information, contacts, transfers and trade continued [throughout the war] to flow between the

firrn's Detroit headquarters and its subsidiaries both in Allied countries and in territories controlled by theAxis powers. The financial

records ofOpelRusselsheim revealed that between 1942 and 1945 production and sales strategy were planned in close

coordination with General Motors factories throughout the world.... In 1943, while its American manufacturers were equipping the

United States Air Force, the German group were developing, manufacturing and assembling motors for the Messerschmitt 262, the

first jet fighter in the world. This innovation gave the Nazis a basic technological advantage. With speeds up to 540 miles per hour,

this aircraft could fly 100 miles per hour faster than its American rival, the piston-powered Mustang P51."

David Farber, author ofSloan Rules: Alfred P. Sloan and the Triumph of General Motors (2002), stated that:[62]

"GM destroyed Sloan's files to protect itself from lawsuits regarding antitrust issues, the neglect of automobile safety and its

investments in Nazi Germany."


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[edit]Great American streetcar scandal

See also: Great American streetcar scandal

The Great American Streetcar Scandal is a theory developed by Robert Eldridge Hicks in 1970 and published by Grossman

Publishers in 1973 in the book "Politics of Land, Ralph Nader's Study Group Report on Land Use in California" at pp. 410-12,

compiled by Robert C. Fellmeth, Center for Study of Responsive Law, and put forth by Bradford Snell again in 1974, in which GM,

along with road-builders, is alleged to have engaged in a controversial policy that triggered the massive shift from the mass

transportation of the previous century to the 'one-person-one-car' trip of today.[63]

The theory states that in order to expand auto

sales and maximize profits GM bought local mass transit systems and privately owned railways, following which it would proceed to

eliminate them.[64]

Alternative versions of the events have been put forth by scholars in the field.[65][66][67]

Slater, Cosgrove and Span

all put forth evidence that counters Snell's theory.

[edit]Corvair

Consumer advocate, Ralph Nader, issued a series of attacks on vehicle safety issues from GM particularly the Chevrolet Corvair

in his book Unsafe at AnySpeed, written in 1968. Being the first major action taken by Nader, he soon established his reputation as

a crusader for safety. GM was then accused of sending spies after him. "A woman at the supermarket confronted me and said, 'How

would you like to have a talk on foreign affairs?' This wasn't a classroom, this was a supermarket, I was buying cookies - I don't think

she wanted to talk about foreign affairs, I think she wanted to talk about domestic affairs", Nader said in the 2006 documentary An

Unreasonable Man. Agents were supposedly trying to fix his mind and get him to engage in sexual activity. "Mother would get calls

saying, 'We've got a package for Mr. Ralph Nader at 9 AM.' There would also be threats like, 'You better back off, buddy boy'", said

Claire, Nader's sister. GM was put on trial for attempting manipulation with Nader, Robert Kennedy and numerous other notable

figures present at the trial. In the end, the CEO apologized to Nader; however, Nader continued to work against General Motors.

[edit]Top-level management

In 1980, J. Patrick Wright wrote a book named On a Clear DayYou Can See General Motors. This book, which critics acclaimed

"blows the lid off the king of carmakers" was about the allegations of corruption, "mismanagement and total irresponsibility" at the

top level of the company, as seen by John Z. DeLorean, the Vice-President, who, in 1973, resigned from his position in spite of a

brilliant and meteoric rise. He was earning $650,000 per year and was expected to be the next President of GM

General Motors India Private Limited

From Wikipedia, the free encyclopedia

"General Motors India" redirects here. For other uses, see General Motors India (disambiguation).

General Motors India Private Limited


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Type Subsidiary

Industry Automotive

Founded 1995

Headquarters Halol(Registered Office)

Gurgaon(Marketing Office)

Keypeople Mr. Karl Slym, President andMD

Products Automobiles

Employees 4,000

Parent General Motors

Subsidiaries Opel India Private Limited

Chevrolet Sales India Private Limited

Website www.gm.co.in

General Motors India Private Limited is a wholly owned subsidiary ofGeneral Motors that is engaged in the automobile business

in India. It is the 5th largest automobile manufacturing company in India afterMaruti Suzuki, Hyundai, Tata Motors and Mahindra.

Contents

[hide]

1 History

2 Manufacturing Facilities


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3 Vehicle sales, service and marketing business

4 Models

o 4.1 Chevrolet

4.1.1 Current

4.1.2 Discontinued

o 4.2 Opel

4.2.1 Current

4.2.2 Discontinued

5 See also

6 External links

7 References

[edit]History

General Motors began doing business in India in 1928, assembling Chevrolet cars, trucks and buses, but ceased its assembly

operations in 1954. GM continued with tie-ups with Hindustan Motors to build Bedford trucks, Vauxhall cars, Allison

Transmissions and off-road equipment.

In 1994 GMIPL was formed as a joint venture, owned 50 percent by Hindustan Motors and 50 percent by General Motors, to

produce and sell Opel branded vehicles. GM bought out the Hindustan Motors interest in 1999.[1][2]

GMIPL continued to produce

Opel cars at the Halol facility until 2003, when it started production of Chevrolet vehicles at that location.

In 2000, GMIPL moved its headquarters to Gurgaon. In 2003, the company opened its technical center operations in Bangalore,

which included research and development and vehicle engineering activities. The technical center operations were expanded to

include purchasing and financial support services for General Motors operations located outside of India (2006), vehicle engine and

transmission design and engineering (2007) and a vehicle design studio (2007).

GMIPL began construction of a second vehicle assembly plant in Talagaon in 2006, which began production of Chevrolet vehicles in

September 2008.

In late 2009, General Motors announced that it would put its India operation into a 50-50 venture with Shanghai Automotive Industry

Corporation of China, which is the partner of GM's main venture in China.[3]

[edit]Manufacturing Facilities

GMIPL operates vehicle manufacturing plants in Halol, Gujarat and Talegaon Dabhade, Maharastra, It maintains headquarters

in Halol and Gurgaon and a large technical center in Bangalore. Its Halol and Talegaon Dabhade Manufacturing Plants have a

combined Production Capacity of 385,000 vehicles annually.[4]

[edit]Vehicle sales, service and marketing business


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Like most other automotive companies in India, GMIPL appoints independently owned dealers to sell, service and market vehicles

that it produces. As of August 2008, managed the Chevrolet dealership network (including export dealers located

in Nepal, Bangladesh, Sri Lanka and Bhutan) from its headquarters in Gurgaon, and regional zone offices

in Mumbai, Kolkata and Chennai. GMIPL currently has 203 dealerships in 178 cities across India which will be increased to 250 by

2009.

GMIPL also sells parts and services to independent vehicle maintenance providers under the AC Delco brand.

[edit]Models

[edit]Chevrolet

Main article: ChevroletSales India Private Limited

[edit]Current

1. Chevrolet Optra(Launched 2003)

2. Chevrolet Tavera(Launched 2004)

3. Chevrolet Aveo(Launched 2006)

4. Chevrolet Aveo U-VA(Launched 2006)

5. Chevrolet Spark(Launched 2007)

6. Chevrolet Captiva(Launched 2008)

7. Chevrolet Cruze(Launched 2009)

8. Chevrolet Beat(Launched 2010)

[edit]Discontinued

1. Chevrolet Forester(2003-200?)

2. Chevrolet SRV(2006-200?)

[edit]Opel

Main article: Opel India Private Limited

[edit]Current

1. None

[edit]Discontinued

1. Opel Astra(19962006)

2. Opel Corsa(20002006)

3. Opel Vectra(20032006)


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4. Opel Corsa Swing(20032006)

5. Opel Corsa Sail(20032006)

Models of General Motors Cars

MODEL TYPE

Chevrolet-AveoAveo 1.4 E

Aveo 1.4

Aveo 1.4 LS

Aveo 1.6 LT

Mid Size

Chevrolet Optra1.6 Elite

1.6 LS Elite

1.6 LT Royale

1.8 LT

1.8 LT AT

Mid Size

Chevrolet TaveraTavera B1

Tavera B2

SUV

Chevrolet Tavera NeoNeo LS-B3

Neo SS-D1

SUV

Chevrolet Captiva SUVChevrolet SRV

Chevrolet SRV 1.6

Chevrolet SRV 1.6 with OptionPack

SUV

Chevrolet SparkSpark 1.0 E

Spark 1.0

Spark 1.0 LS

Spark 1.0 LT

Mid Size

Opel Corsa Mid Size

Opel Astra Mid Size

If the buyers can't afford to buy new Ford cars then they can go for used cars. There are a number of car owners that are interested to sellcar. They can go for rental cars, new car or even used cars. To search for Ford Motor's used cars is quite easy. There are car dealers andcar websites that offers ample information that helps to sell a car at fair prices.

General Motors Corporation (GM) is a multinational automobile manufacturer and is the second largest automaker. General Motorsmanufacture cars and trucks in over 35 countries. Some of the popular brands of General Motors are Hummer, Chevrolet, GM Daewoo,Cadillac, Holden, Pontiac, Saab, Saturn, Vauxhall, and Wuling. The General Motors Aftermarket Business operates globally in the US andmanages four brands; Goodwrench, ACDelco, GM Performance Parts and GM Accessories.

General Motors started its venture in the Indian automobile market with CK Birla Group of companies. GM started as a 50-50 share holder.Later it switched over from a Public Limited to a Private Limited company. General Motors entered in the Indian Automobile Industry with theOpel brand. But the General Motor's most recognized brand in India is Chevrolet.


22/31

In the recent years, General Motors have faced the financial setback. The rapidly rising gas prices resulted in a 30% downfall of sales ofSUVs. General Motors enlisted its name for making outstanding future performance in the field of automobile industry in India from the year1994. It started its venture with C K Birla Group of companies as a 50-50 share holder. Later on it reconstructed from Public limited to PrivateLimited in the year 1999.

General Motors is the leading automobile industry. General Motors cars are always are the luxury cars that are classy and superior. Manybuyers find the rates of General motors new cars beyond their reach. But there are various car owners ready to sell car. Used cars are cost-effective and affordable. There are used car dealers, car dealership, luxury cars, used cars, car deals, car rentals and car insurance detailsavailable in various websites.

History of General MotorsGeneral Motors (GM) came into existence on the September 16th, 1908 in Flint, Michigan. It was a holding company for Buick, thencontrolled by William C. Durant. The next year, Durant brought in Cadillac, Elmore, Oakland and several others. In 1909, General Motorsacquired the Reliance Motor Truck Company of Owosso, Michigan, and the Rapid Motor Vehicle Company of Pontiac, Michigan, thepredecessors of GMC Truck. Due to a large amount of debt and the collapse in new vehicle sales; Durant lost control of General Motors in1910 to a bankers' trust. Later, Durant started the Chevrolet Motor car company and purchased a controlling interest in the General Motors.Durant took back control of the company. But sooner, he again lost control of the company after market collapsed and Alfred Sloan takecharge of the corporation

MUMBAI, FEB.11:

After witnessing a 60 per cent spurt in sales last year, General Motors (GM) India has set a more modest growthtarget for 2011, at up to 30 per cent. The lower estimate is because of the higher base of last year and fewer freshlaunches planned for this year.

With most new products slated to be introduced only in early-2012, this year will largely see launch of new fuelvariants of existing Chevrolet models, like a diesel-powered Beat hatchback, besides refreshed models of the Captiva

SUV and Tavera.

Last year had been very good for us because of good sales of new launches like the Beat, Cruze and also the Captivaand Spark doing well. We expect to double the industry growth this year at 25-30 per cent. We will launch a newCaptiva besides a BS IV version of the Tavera, Mr Karl Slym, President and Managing Director, GM India,told Business Line.

CONSOLIDATING OPERATIONS

GM India, in which Chinese partner SAIC shares an equal stake, aims to use this year for consolidating its fastgrowing operations. This includes expansion of its dealer network as it gears up to launch at least six new productswith 14 fuel variants next year, besides setting up a global hub for light commercial vehicles at Halol and expandingengine and car production at Talegaon.

We could also look to export about 10 per cent of the production from the new engine plant, as it's the only plant

globally for us that makes such engines. For our CVs, we would look at India-like export markets in the Asia-Pacificregion and South America, Mr Slym said adding that a new press shop would be added to the Halol facility as part ofthe Rs 700-crore investment allocations.

R&D CENTRE

With plans to rapidly expand its domestic product development capacity, GM is adding around 400 employees thisyear to its existing staff of 2,000 at its Bangalore-based technical centre. Integrated with GM's global R&D efforts, thisdivision had until now mostly been assisting in the development of global products. However, higher emphasis is nowbeing placed on developing products for the domestic market.

We are expanding the capabilities at our technical centre by adding vehicle architecture development capability by2012-13. We've also recently leased a new building where we will be housing our powertrain research facility. We aimto add 20 per cent more workforce every year, said Mr Slym.

GM launched on Friday the Chevrolet Beat LPG at Rs 4.10 lakh (LS) and Rs 4.53 lakh (LT) in Maharashtra (ex-showroom). The first product to use the locally developed and manufactured 1.2 litre Smartech' engine, the Beatvariant can operate on both LPG and petrol. The engine generates 80 PS of power and delivers fuel efficiency of 13.29kmpl. On LPG, it has a full tank range of 349 km, while a combination of both fuels can extend this to 1,000 km

SALARIED RETIREE AND SURVIVING SPOUSE Q&A 1 of 3 pages

Questions and Answers Regarding the Recently Announced Changes to the


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General Motors Salaried Health Care Program

The following are frequently asked questions and answers regarding the recently announced

changes to the General Motors Salaried Health Care Program. Additional information will be

provided to you during this fall.

CHANGES AS OF JANUARY 1, 2009

What changes did GM announce?

GM announced changes to the Salaried Health Care Program. On January 1, 2009, retirees,

surviving spouses and dependents age 65 or older will no longer be eligible to participate in the GM

Salaried Health Care Program. At age 65, medical, dental, vision, hearing aid, prescription drug

and extended care coverages provided under the GM Salaried Health Care Program will cancel. In

lieu of health care in retirement, eligible retirees and surviving spouses, age 65 or older, will begin

to receive a monthly pension increase of $300. These changes directly affect the way post-age 65

retirees, surviving spouses and dependents receive and pay for health care coverages.

Who is impacted by these changes?

These changes impact current and future retirees and surviving spouses (including dependents) who

are eligible for GM contributions towards health care in retirement. It also impacts those who are

eligible to participate in the GM Salaried Health Care Program on a self-pay basis.

What is the impact for retirees who had a GM employee length of service date on or after

January 1, 1993 but prior to January 1, 2001?

Retirees with a length of service date on or after January 1, 1993 but prior to January 1, 2001 are


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not eligible for GM contributions towards health care in retirement but may participate in the

Salaried Health Care Program by paying the full cost of coverage. With this change, such

participation will end at age 65. Further, such retirees are not eligible to receive the $300 monthly

pension increase. These same provisions will also apply to retirees with a length of service date

prior to 1993 who do not qualify for corporate contributions towards health care in retirement.

When exactly will my health care coverages cancel?

In retirement, coverages under the GM Salaried Healthcare Program will cancel the first day of the

month that you turn age 65. If you turn age 65 on the first day of the month, coverages will cancel

the first day of the prior month, consistent with Medicare eligibility guidelines.

PENSION INCREASE AS OF JANUARY 1, 2009

What is the pension increase? Will the pension amount differ depending on the number of

individuals in your family?

Eligible GM retirees and surviving spouses, who are 65 or older, will receive a monthly pension

increase of $300 beginning January 1, 2009. All eligible GM retirees or surviving spouses will

receive the same amount. Retirees and surviving spouses who purchase their health care coverage

from GM by paying the full monthly cost are not eligible for this pension increase.

When will the pension increase go into effect?

The pension increase will be effective the month the retirees or surviving spouses health care

coverages cancel due to reaching age 65. SALARIED RETIREE AND SURVIVING SPOUSE Q&A

2 of 3 pages

If a 62 year old GM retiree has a spouse who is 65 years old and whose health care coverages


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cancel, when will the retiree begin to receive the additional $300 per month pension increase?

The retiree will be eligible for the $300 per month pension increase when he/she turns age 65.

Eligibility for this pension increase is linked to when the retiree reaches age 65 not when a

dependent spouse reaches age 65.

GM SALARIED HEALTH CARE RETIREE CAP

Will pre-age 65 retirees or surviving spouses be impacted by this change in the future?

Yes. Retirees and surviving spouses who are eligible to participate in the GM Salaried Health Care

Program in retirement (including their dependents) will be impacted by this benefit change once

they turn age 65.

Will pre-age 65 retirees and surviving spouses still be subject to the health care cap?

Yes. Until they turn age 65, eligible salaried retirees, surviving spouses and dependents may

participate in the GM Salaried Health Care Program, subject to the retiree health care cap that

became effective January 1, 2007.

When will pre-age 65 retirees and surviving spouses learn about health care plan options and

benefit changes for 2009?

Pre-age 65 retirees and surviving spouses will be informed of the 2009 changes during GMs

Annual Enrollment period in the fall, similar to past years. The enrollment period will run from late

October through early November. Retirees should refer to their annual Retiree Newsletter that they

will receive later this fall for benefit change highlights.

UNDERSTANDING YOUR BENEFITS


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Will GM help post-age 65 retirees understand next steps? When will retirees receive more

information?

We know that you have questions and concerns about these changes. GM is committed to

providing tools and resources to help you understand what is changing and what you will need to

do. Attached is a schedule of key events and mailings for post-age-65 retirees. GM will be

providing a service through a company called Extend Health to help you understand medical plan

options, such as Medicare Supplemental, Medigap, Medicare Advantage HMO and Medicare

Advantage Private Fee-for-Service plans that are available to purchase in 2009. Extend Health will

have a Call Center to assist you, which is expected to be available beginning in October. We will

communicate additional information to you later this year.

When should retirees enroll in their new health care plan options?

Retirees should plan on making their elections and enrolling in new options this fall, in order for

their options to be effective January 1, 2009. GM will be providing additional information later this

year to assist you with your selection process.

Please note that the GM Benefits and Services Center and current GM health plan carriers do

not have any additional information regarding these announced changes.

General Motors reserves the right to change, amend, modify, suspend or terminate its employment practices, policies,

employee benefit plans or programs at any time. This document provides general information only. In the event of a

conflict with the official plan documents, the plan documents will control. SALARIED RETIREE AND SURVIVING SPOUSE Q&A

3 of 3 pages

Calendar of Events for Post Age-65 Salaried Retirees


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GM Initial

Announcement

GM announces health care change.

Retirees, Surviving Spouses and Employees to receive letters

and question and answer sheet.

July 2008

Retiree

Meetings

GM will host a series of retiree meetings around the country

to explain the change. Meeting locations will be announced

later this fall.

September 2008

December 2008

You will receive

Educational

Materials

You will receive materials in the mail explaining the health

care plans available in the individual Medicare marketplace.

At this time, GM will introduce Extend Health the new

service that will help retirees and surviving spouses make an


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informed decision about their 2009 enrollment.

Week of

September 22,

2008

You will receive

a Welcome Kit

from Extend

Health

A personalized welcome kit will provide you with detailed

information on Extend Health and how Extend Health will

help each person understand plan options. This kit will also

include information on how to contact one of Extend Healths

licensed benefit advisors starting October 15, 2008.

Week of

October 6, 2008

Enrollment

Period

Starting October 15, 2008, Extend Healths Customer Service

Center will be open to assist you in selecting and enrolling in

plan options that will best fit your needs for 2009.


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IMPORTANT: It is recommended that you complete your

enrollment no later than Friday, December 5, 2008 to allow

sufficient time to receive your new ID cards prior to January 1,

2009.

October 15, 2008

through

December 31, 2008

You will receive

ID cards from

your chosen

Health plan

You will receive new ID cards about three weeks after you

complete your enrollment.

November 2008

through

January 2009

Your Health

Care Coverages

Change

GM coverages cancel; Individual Medicare health care plan


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coverage begins.

IMPORTANT: Be sure to provide your new ID card to health

care providers starting January 1, 2009.

January 1, 2009

Final Notices to

Those Not

Enrolled

GM will attempt to track enrollment into individual Medicare

plans and do outreach to those individuals who appear not to

have selected a new health plan for 2009.

February / March

2009

Last Day to

Enroll for

Individual

Medicare Plans

without a

Penalty

Late enrollment fees apply to those who enroll in an individual

Medicare plan more than 63 days after GMs group coverage


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ends.

IMPORTANT: Coverages cannot be made retroactive to

January 1, 2009 if enrollment is made after December 31, 2008.

March 4, 2009

REMEMBER

1. NO ACTION IS REQUIRED AT THIS TIME.

2. DETAILED INFORMATION ON WHEN TO CONTACT EXTEND HEALTH

CUSTOMER SERVICE CENTER WILL BE MAILED SEPTEMBER 22, 2008.

3. ENROLLMENT DOES NOT BEGIN UNTIL OCTOBER 15, 2008.

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