-
The Creation
William C. Durant founded the company known as GM. -
Company Expantion
Durant brings Buick, Oldsmible, Pontiac, Cadillac, Champion ignition, AC spark plug and a few other companies into GM. Sales rise 60% -
War Effort
GM shift most truck production toward war effort. -
U.S. Automarket
GM accounts for 12% in the automarket in the United States. -
Sit-down Strikes
Violent sit-down strikes by GM workers happen hourly in Flint, Michigan. This leads to United Auto Workers representation. -
U.S. Automarket
GM accounts for 54% in the United States automarket and finishes it's 50 millionth car to date. -
Chairman
Roger B. Smith named chairman. GM loses more than $750 million sales when car and truck prices plunge to 26%. -
Consolidates truck, bus and van operations
Company bashes Japanese cars with sledge hammers, earns $333.4 million on $62.7 billion in revenue. -
Chairman Retires
Saab of Sweden form a joint venture to make cars in Europe. Roger Smith retires, succeeded by president Robert Stempel. GM launches Saturn and closes 4 assembly plants. -
GM Earnings
GM loses $38.7 billion, including $39 billion for unused tax credits. Largest annual loss in auto industry history. GM makes historic contract with (UAW) United Auto Workers that shifts billions in retiree health care expenses to union-administered trust. GM sells Allison Transmiission to The Carlyle Group and Onex Corp for $5.6 billion.