At one point in time, General Motors, or GM for short, used to be one of the biggest Automotive manufacturers in the country. However, due to the rise of many German and Japan-based automotive companies, the fame of General Motors has surely dipped quite a lot in recent years. But still, they are kind of big in this whole scene, especially in the USA. And since the whole electric vehicle thing is going on in the world right now, that’s why General Motors is stepping into that part of the segment as well. By far, they are doing pretty good though. And if that has made you a little bit intrigued to know more about this fascinating automotive company, then simply keep on reading. Here we will be taking a good look at their net worth, history, who’s currently in charge, and a lot more other things. Here we go.
| General Motors Origin Country | United States |
| Established Year | 1908 |
| Headquarters | Detroit, Michigan, United States |
| General Motors CEO | Mary Barra |
| General Motors Net Worth | $37.28 billion (as of October 2023) |
| Industry | Automotive |
The General Motors Story
Did you know that for General Motors, it all started in a small place called Flint, Michigan, back in 1886? Two friends, William “Billy” Durant and Josiah Dort, decided to create the Flint Road Cart Company. At first, they made carriages pulled by horses. But soon, this little company became a big name, the Durant-Dort Carriage Company. They were one of the biggest carriage makers in the world! In 1904, something exciting happened. Billy Durant was asked to lead the Buick Motor Co. And in just four short years, under his smart moves, Buick became the top car maker in the country. Billy had a big dream. He thought, “Why not bring many car companies together?” So, in 1908, he started General Motors, or GM for short. And that wasn’t all. In 1911, he began another company, which we now know as Chevrolet.
General Motors Financials
General Motors, or GM for short, had quite a journey, for instance, they faced a big money problem a while back and even went bankrupt. But yeah, they bounced back in no time. Now, they’re all in on electric cars. And oh, they’ve got this cool battery thing called the Ultium Drive system. It’s at the heart of their big move to electric. Ever heard of the GMC Hummer that runs on electricity? Or the Cadillac LYRIQ? And let’s not forget the Chevrolet Silverado EV. These are just some of the cool electric cars from GM. They have other brands too, like Buick and Cadillac under their umbrella. Talking about their financials, so in the third part of 2023, they made about $3.06 billion. It’s a bit less than last year, around 7.3% less, to be exact. But, their overall money-in (or revenue, as the experts call it) grew by 5.4%. It touched a whopping $44.13 billion! Looking back to 2022, GM made $156.74 billion in total. They had $264.04 billion worth of stuff, and their own value, or equity, was $71.93 billion. And talking about the current financial situation, so their estimated net worth as of October 2023 is $37.28 billion.