General Motors is one of the world's largest automotive companies. GM’s history starts from 1908, when an enterprising William Durant bought several small companies in the which produced cars, combining them into one company and called this company: «General Motors Company» (General Motors). The company introduced to the world «Buick» trucks which later became famous all over the world. During two years, GM bought about twenty of such small firms. Company’s international headquarters is located in Detroit. GM is doing business almost in 120 countries of the world with its 209,000 employees (General Motors). GM and its strategic partners produce cars and trucks in 35 countries, and the company’s largest markets in the world is China, U.S., Brazil, Britain, Canada, Germany, Italy, Russia and Mexico. General Motors currently owns following automotive brands: Alpheon, Buick, Cadillac, Chevrolet, GMC, Holden, Opel and Vauxhall. However, automotive brands such as Oldsmobile, Pontiac, Hummer, Saturn, Acadian and Geo were also belonged to GM’s previous brands (General Motors).
At the end of the first decade of the 21st century GM's financial condition has deteriorated. In 2009 the company has started bankruptcy proceedings - the court of the Southern Federal District of New York had filed a lawsuit. Under the terms of the bankruptcy, the U.S. government gave the company about $ 30 billion, and in return received a 60% stake in the concern, the Government of Canada - 12% stake for $ 9.5 billion, the United Auto Workers (UAW) - a 17.5% stake.
Strengths
One of the main strengths of General Motors is being a one of the largest automakers in the world and the percentages of the market it shares in the United States. General Motors shares seventeen percent of the market and its consumer sales is twenty eight percent in the United States. Moreover, General Motors’ another