GM has recovered from bankruptcy in 2009. It produces eight million vehicles a year.

The American automaker General Motors has been a world leader for decades, and with its Cadillac, Chevrolet or Pontiac cars, it has been one of the United States symbols. Ten years ago, on June 1, 2009, she asked the court for bankruptcy protection from creditors. The fourth largest bankruptcy in US history and the biggest bankruptcy in the US manufacturing sector was announced.

GM has recovered from bankruptcy in 2009. It produces eight million vehicles a year.
GM has recovered from bankruptcy in 2009. It produces eight million vehicles a year.

Subsequently, the government helped the car maker with a financial injection of nearly $ 50 billion, and in exchange for aid in GM, it gained a share of 60.8 percent, which it then gradually sold. The carmaker left the bankruptcy regime after only 39 days, and with a government-reorganized reorganization, it returned to profit, and the stock market began to be re-traded.

The carmaker struggled with the problem long before the bankruptcy was announced. The situation was exacerbated by the 2008 economic crisis, high oil prices and the unavailability of credit. In November 2008, GM's shares first fell to a 66-year low as a result of the economic crisis. This was mainly due to growing political resistance to the proposed aid to the US automotive industry. In 2008, the Japanese automaker Toyota Motor also outperformed GM for the first time in global car sales, which ruled the global automotive market since 1931. GM was 76 for the world.

During 2009, the car manufacturer's situation was even worse than expected. In February, it was announced that GM had a loss of $ 30.9 billion in 2008, and leadership subsequently expressed "serious doubts" about whether the company could survive in the current situation.

After the end of the bankruptcy regime, the slim car maker focused on four primary brands - Chevrolet, Buick, GMC and Cadillac - and also Holden in Australia. GM Korea, in which the US group holds 77 percent of the shares, was built on the foundations of Daewoo. As part of the joint venture SAIC-GM-Wuling, it also manufactures, with its partners in China, cars for the local cheap brand Baojun.

As part of the restructuring, the automaker reduced the number of employees, closed down some factories and disposed of or discontinued some non-profit brands such as Hummer, Pontiac, Saab, and Saturn. In 2017 GMnakonec sold the French PSA Group for 2.2 billion euros (about 57.4 billion crowns) and its European division, which included the German Opel and the British brand Vauxhall.

Based in Detroit, GM is currently the largest automaker in the United States, ranking fourth in the rankings of the world's largest GM car manufacturers after Toyota, Volkswagen, and Hyundai / Kia. The company posted a net profit of around $ 8 billion last year after a nearly $ 4 billion loss in the previous year. At the end of last year, the company employed 173,000 people. Production last year was over eight million cars.

General Motors was officially established in September 1908 as the General Motors Company in Flint, Michigan, based on the Buick factory founded in 1903 in Detroit. Its founder was William Durant (1861-1947). Buick was gradually joined by Oldsmobile, Oakland (Pontiac) and Cadillac. Durant also stood together with Louis Chevrolet in 1911 for the emergence of Chevrolet, a company that GM swallowed in 1917. But Durant was no longer in the company, with the company breaking up badly.
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