With a portfolio of car brands including Vauxhall, Hummer, Chevrolet and Cadillac, the General Motors net worth is incredibly high. That impressive list made them the world’s largest car manufacturer for more than 75 years, but do they still hold that title?
General Motors dominated the car market for almost a century. They changed consumer cars from horseless carriages into the wonderful machines that fill our streets today.
General Motors became the largest automaker in the world in 1931, producing more vehicles than any of their rivals. That remained the same for 77 years, until the 2008 global financial crisis halted their sales. Toyota overtook GM that year, exactly 100 years after the company was founded.
Despite their recent slump, GM remains one of the most popular car makers around, with a net worth in the billions. But how did the automaker reach the top?
General Motors net worth: The Tesla of their time
Tesla are viewed as the future of car making. They continue to push new and exciting products that will revolutionise transport if they prove to be successful.
General Motors were once the same, introducing features and designs that were unseen in the car industry.
William C. Durant founded General Motors in 1908. After purchasing the Buick brand, GM became an instant success, selling 25,000 vehicles within 12 months.
GM bought and added five more car brands to their portfolio soon after. However, Durant’s latest purchases left the company in debt and the stakeholders forced him out soon after.
Despite that setback, GM pushed on with their plans to become the world’s leading car makers.
Over the next few decades, GM introduced a range of new features that would become common in modern cars. Their innovative additions included retractable headlights, convertible tops, power-operated windows and air conditioning.
By 1986, GM had captured 41% of the market. That has since fallen. Yet, General Motors remain one of the top five car companies around, producing more than 7.5 million units per year and earn $166 billion in revenue.
As a result of their continued success, the General Motors market cap stands at $48.6 billion.