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General Motors Company (GM) [2] is an American multinational automotive manufacturing company headquartered in Detroit, Michigan, United States. [3] The company is most known for owning and manufacturing four automobile brands: Chevrolet, Buick, GMC, and Cadillac, each a separate division of GM.
In 1955, General Motors became the first American corporation to pay taxes of over $1 billion. [21] GM operated six divisions at this time, one of which (GMC) only sold trucks. The other five settled into a hierarchy, which consisted, from most- to least-prestigious, Cadillac, Buick, Oldsmobile, Pontiac and Chevrolet.
The similarly styled Chevrolet still used the "X" frame from the early 1960s. A new compact Tempest was introduced for the 1961 model year. It was one of the three Buick-Olds-Pontiac (BOP) models introduced that year, sharing the platform with the Buick Special, Skylark, and Oldsmobile F-85. A four-cylinder engine was also introduced in the ...
Until December 10, 2013, the U. S. Treasury recovered $39 billion from selling its GM stake. The final direct cost to the Treasury of the GM bailout was $11 [94]-12 billion ($10.5 billion for General Motors and $1.5 billion for former GM financing GMAC, now known as Ally). [95] Local tax incentives amounted to $1.7 billion, most of them in ...
This year's investor day is a marked departure from those of the past when GM leaders would lay out ambitious goals, such as in 2021 when GM said it planned to double revenue to about $280 billion ...
On June 1, 2009, the court gave interim approval to GM's request to borrow $15 billion as debtor-in-possession financing, the company only having $2 billion cash in hand. The United States Treasury had argued in court that it was the only source of such debtor in possession funding, and that without the money from the loan General Motors would ...