General Motors Company (NYSE: GM, TSX: GMM.U), commonly known as GM, formerly incorporated (until 2009) as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan, and the world's largest automaker, by vehicle unit sales, in 2011.
The automakers said Karl-Friedrich Stracke has stepped down from his position as head of troubled GM Europe and Opel/Vauxhall. Stracke will now handle special assignments reporting to GM Chairman and Chief Executive Officer Dan Akerson.
General Motors will buy 7% of France's PSA Peugeot Citroen as part of an alliance to cut product development and supplier costs.
For GM, the quantitative benefits of the Throughput Improvement Process and its underlying O.R.-based analytics include a 26% increase in manufacturing productivity between 1997 and 2004 and ongoing annual combined savings and incremental revenue improvements of over $2 billion.
In addition to creating problems for existing products, the lack of an effective throughput analysis capability was impeding the launch of new products, resulting in lost sales. In 1991, GM reported a $4.5 billion loss – a business record at that time.
GM's products are strong and getting stronger, the current management team exudes competence, and its sales in key markets are up, so much so that the company was able to reclaim its old title as the world's automotive sales leader.
Along with features including stolen car recovery and hands-free calling, OnStar provides emergency services including automatic crash response. Annual subscriptions cost between $199 and $299 and an aftermarket product called OnStar FMV (For My Vehicle) is now available for non-GM products.
It turned out to be both more and less than we expected: While General Motors' (GM -1.45%) new partnership with PSA Peugeot Citroen (PEUGY -3.94%) does feature a major new joint-purchasing initiative, it doesn't, at least on the surface, appear to do much to solve the very real problems facing both companies.
Akerson defended the company's beaten-down stock price, saying that many automotive rivals also have seen their shares sink amid Europe's debt crisis. He said, "There are a lot of things to be pleased about" with GM's performance globally, including strong profits in the United States and a growing market share in China.
General Motors Corp. CEO Dan Akerson also said he would consider offering a pension buyout to GM's more than 400,000 hourly retirees and dependents as a way to reduce the $134 billion pension obligation on its books, which Akerson said is the largest of any U.S. company.
A risk of engine fires is forcing General Motors to recall its popular Chevrolet Cruze compact car. The recall covers the 2011 and 2012 model years and affects more than 475,000 cars, which have ranked among the top-selling U.S. compacts over the past two years.
General Motors Co. GM -3.87% reported Thursday the largest annual profit in its 103-year history—but the auto maker is acting like a company on the rocks. It earned $7.59 billion in 2011, a 62% increase from a year ago. The bulk of that profit came from GM's large North American unit, where sales rose and customers are paying more for its cars and trucks.
The beginning of General Motors Corporation can be traced back to 1892, when R.E. Olds collected all of his savings to convert his father's naval and industrial engine factory into the Olds Motor Vehicle Company to build horseless carriages. For several years, however, the Oldsmobile (as the product came to be known) did not get beyond the experimental stage.
After purchase of National City Lines of Los Angeles, GM accused of buying streetcar companies since 1920s and replacing them with bus systems. GM is convicted just once, of conspiracy in the Los Angeles case.
General Motors Company (GM) designs, builds and sells cars, trucks and automobile parts worldwide. The Company also provides automotive financing services through General Motors Financial Company, Inc. (GM Financial). It operates in four automotive segments: GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).