A Look at General Motors
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Introduction to General Motors:
General Motors was founded in 1908 and with the purchase of Buick Motor Company GM grew rapidly. GM continued to purchase Cadillac, Rapid Motor Vehicle, which eventually became the GMC Truck, as well as Oakland Motors now known as Pontiac, and in 1918 Chevrolet was also purchased. In 1919 GM created their General Motors Acceptance Corporation, which allowed the company to provide a way to finance purchases of their vehicles for customers. GM is known for not making money off of their vehicle sales but more from their financing structure they have created. General Motors has been participating in global sales, exporting since 1911 and 1920 the first office overseas was created for sales reasons located in Asia. The first GM manufacturing plant was in the capital of Denmark, Copenhagen in 1923 and then Buenos Aires in 1924, the capital of Argentina. General Motors CEO of 1924, Alfred Sloan stated, "A car for every purse and purpose," which was the original strategy of the company. The company was known for it's innovation in service and technology, starting with the electric starter in 1911 and in 1926 Cadillac was the first to have a straight forward nationwide service policy, which allowed customers to have a reassurance with the purchase of their vehicle. Also the vehicles made by GM have been around for quite sometime, known for the having all different vehicles providing a different style, whether looking for comfort, practical, or even for looks. Overall the company grew over years reaching 100 million by 1967, having 47% of the U.S. automobile market. However, today, GM has encountered a p ...