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General Motors

American multinational automotive manufacturing company

General Motors, headquartered in Detroit, Michigan, is known for owning Chevrolet, GMC, Cadillac, and Buick. It was the largest automaker in the world for 77 years. GM operates in eight countries and owns various brands and divisions, including BrightDrop, OnStar, and ACDelco. Established in 1908, GM has a long history of growth, innovation, and collaborations, including with NASA for electric vehicles. The company reorganized in 2009 and continues to be a major player in the automotive industry, with plans for carbon neutrality by 2040.

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Ford Motor Company Toyota Motor Corporation Honda Motor Company Stellantis General Electric United Auto Workers BMW Mitsubishi Motors Tesla Henry Ford

Timeline

General Motors Company founded

General Motors Company was established as a holding company for Buick on September 16, 1908, by William C. Durant and Charles Stewart Mott. It later became a major player in the automotive industry through a series of acquisitions.

Acquisition of Olds Motor Works

Under William C. Durant's leadership, General Motors acquired Olds Motor Works on November 12, 1908, as part of its expansion strategy in the automotive industry.

Series of acquisitions by General Motors

In 1909, General Motors, under the leadership of William C. Durant, made a series of strategic acquisitions including Cadillac, Elmore, Welch, Cartercar, Oakland, the Rapid Motor Vehicle Company, and the Reliance Motor Car Company, which laid the foundation for its automotive empire.

Durant loses control of GM to a banker's trust

In 1910, due to a $15 million debt from acquisitions, Durant lost control of the company to a banker's trust. This led to his departure from the firm.

Co-founding of Chevrolet

In November 1911, William C. Durant co-founded Chevrolet with race car driver Louis Chevrolet, marking an important milestone in the history of General Motors.

Thomas Neal becomes Chief Executive Officer of General Motors

Thomas Neal assumes the role of Chief Executive Officer of General Motors on November 19, 1912.

Pierre S. du Pont becomes Chief Executive Officer of General Motors

Pierre S. du Pont takes over as the Chief Executive Officer of General Motors on November 16, 1915.

Durant's return to lead GM

After a stock buy-back campaign, Durant returned to lead GM in 1916, and brought Chevrolet into the GM umbrella. This marked a significant turning point for GM's leadership.

Acquisition of Chevrolet and Samson Tractor

In 1917, General Motors acquired Chevrolet and Samson Tractor, solidifying its position in the automotive industry.

Consolidation of Chevrolet Motor Company into GM

On May 2, 1918, Chevrolet Motor Company was consolidated into General Motors, further strengthening GM's portfolio.

William Durant becomes President of GM

In 1919, after a series of changes in leadership, William Durant became the president of General Motors. This marked a significant milestone in the history of the company.

Removal of Durant and Appointment of Alfred P. Sloan

In 1920, Alfred P. Sloan replaced Durant as the head of General Motors, bringing significant changes to the company's leadership.

Discovery of Tetraethyllead and Patent by GM

In 1921, engineer Thomas Midgley Jr. discovered tetraethyllead as an antiknock agent, leading to its patent by General Motors and the development of higher compression engines.

Acquisition of Vauxhall Motors and Yellow Cab Manufacturing Company

In 1925, General Motors acquired Vauxhall Motors and an interest in the Yellow Cab Manufacturing Company, further expanding its presence in the automotive industry.

Creation of 'Art and Colour Section' and Appointment of Harley Earl

After the success of the 1927 model of the Cadillac Lasalle designed by Harley Earl, Sloan created the 'Art and Colour Section' of GM, and named Earl as its first director.

Lammot du Pont II becomes Chief Executive Officer of General Motors

Lammot du Pont II assumes the position of Chief Executive Officer of General Motors on February 7, 1929.

General Motors becomes the largest global automaker by annual vehicle sales

In 1931, General Motors overtook Ford Motor Company to become the largest global automaker by annual vehicle sales, marking the beginning of a 77-year reign at the top, which was longer than any other automaker.

Acquisition of North American Aviation

In 1933, GM acquired a controlling interest in North American Aviation and merged it with the General Aviation Manufacturing Corporation.

Grand Cross of the German Eagle

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

Alfred P. Sloan's Defense of German Investment Strategy

In April 1939, Alfred P. Sloan defended the German investment strategy as 'highly profitable' and stated that GM's continued industrial production for the Nazi government was merely sound business practice.

United Auto Workers (UAW) Strike of 1945-1946

The UAW organized a 113-day sit-down strike involving 320,000 hourly workers against General Motors, demanding a 30 percent wage increase and a hold on product prices. The strike ended with a 17.5-percent wage increase.

Introduction of Holden 48-215

In 1948, the first fully manufactured Australian car, the Holden 48-215, was released to great fanfare amongst the Australian public.

GM's U.S. market share reaches 54 percent

In 1954, GM's U.S. market share reached 54 percent, demonstrating its unparalleled influence and market leadership in the automotive sector.

Media Allegations Against GM and Lawsuit Settlement

In early March 1966, media outlets alleged that GM had tried to discredit Ralph Nader by hiring private detectives and prostitutes. Nader sued the company for invasion of privacy and settled the case for $425,000. The lawsuit ultimately expanded tort law to cover 'overzealous surveillance'. Nader used the proceeds to start the pro-consumer Center for Study of Responsive Law.

Design of Lunar Roving Vehicle

In 1971, in partnership with Boeing, GM's Delco Defense Electronics Division designed the Lunar Roving Vehicle, which traversed the surface of the Moon.

Acquisition of Electronic Data Systems

In 1984, GM acquired Electronic Data Systems from Ross Perot for $2.5 billion as part of a strategy by CEO Roger Smith to derive at least 10% of its annual worldwide revenue from nonautomotive sources.

Acquisition of Hughes Aircraft Company

In 1985, GM acquired Hughes Aircraft Company for $5 billion in cash and stock and merged it into Delco Electronics.

GM Downgrades Bond Rating

General Motors' Other Post Employment Benefits Fund (OPEB) became a serious issue resulting in downgrades to its bond rating in 2005.

Private Equity Consortium Purchases GMAC's Commercial Mortgage Arm

A private equity consortium including Kohlberg Kravis Roberts, Goldman Sachs, and Five Mile Capital purchased 78% of GMAC's commercial mortgage arm for $8.8 billion on March 23, 2006.

GM Sells 51% of GMAC to Consortium Led by Cerberus Capital Management

On April 3, 2006, GM announced that it would sell 51% of GMAC to a consortium led by Cerberus Capital Management, raising $14 billion over three years.

GM announces operating loss

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. As a result, GM offered buyouts to all its UAW members.

General Motors declares bankruptcy

On June 1, 2009, General Motors declared bankruptcy and received assistance from the federal government, emerging from bankruptcy in under 40 days as General Motors Company. The bailout saved over a million jobs, at a cost to the U.S. government of $11 to $12 billion dollars.

General Motors Filed for Chapter 11 Reorganization

On June 8, 2009, General Motors filed for a government-backed Chapter 11 reorganization, marking a significant step in its restructuring process.

US Treasury Sold General Motors Shares

On December 9, 2013, the United States Department of the Treasury sold its shares in General Motors, recovering $39 billion from the $49.5 billion investment made through the Troubled Asset Relief Program, resulting in a loss of $10.3 billion.

Mary Barra Appointed as First Female CEO of GM

One day after the U.S. government sold its remaining shares of GM stock, Mary Barra became the first female CEO of GM. This historic appointment marked a significant step forward for gender diversity in the automotive industry.

2014 General Motors recall

General Motors announced a recall in 2014 due to faulty ignition switches, which was linked to at least 124 deaths. The resulting settlements with family members of those killed were estimated to cost the company $1.5 billion.

Sale of Opel and Vauxhall to the PSA Group

On March 6, 2017, the sale of Opel and Vauxhall to the PSA Group for $2.3 billion was confirmed, after GM reported a loss of $257 million from its European operations in 2016.

General Motors Becomes Top US Automaker

General Motors rose, fell, and rose again to become the top US automaker.

2019 General Motors Strike

UAW members went on strike after the contract renewal talks broke down, leading to the shutdown of operations in nine states. The strike ended after 40 days when a new contract was approved.

GM introduces new logo and tagline

General Motors introduced a new logo alongside the tagline 'EVerybody in', with the capitalized 'EV' as a nod to the company's commitment to electric vehicles. GM's new logo used negative space to create the idea of an electric plug in the 'M' of the logo.

Your Driving Data May Be Sold To Insurers

General Motors has admitted that driving data may be sold to insurers, raising concerns about privacy and data usage.

End of the Timeline
General Motors

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