{"id":331980,"date":"2025-06-19T00:02:14","date_gmt":"2025-06-19T00:02:14","guid":{"rendered":"https:\/\/www.gameslearningsociety.org\/wiki\/?p=331980"},"modified":"2025-06-19T00:02:14","modified_gmt":"2025-06-19T00:02:14","slug":"what-year-did-gm-fail","status":"publish","type":"post","link":"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/","title":{"rendered":"What year did GM fail?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_67_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#What_year_did_GM_fail\" title=\"What year did GM fail?\">What year did GM fail?<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#Introduction_to_GMs_History\" title=\"Introduction to GM&#8217;s History\">Introduction to GM&#8217;s History<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#Early_Years_and_Success\" title=\"Early Years and Success\">Early Years and Success<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#1_What_Caused_GM_to_Fail\" title=\"1. What Caused GM to Fail?\">1. What Caused GM to Fail?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#2_When_Did_GM_Go_Out_of_Business\" title=\"2. When Did GM Go Out of Business?\">2. When Did GM Go Out of Business?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#3_What_Happened_to_GM_Stock\" title=\"3. What Happened to GM Stock?\">3. What Happened to GM Stock?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#4_Who_Saved_GM\" title=\"4. Who Saved GM?\">4. Who Saved GM?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#5_What_Cars_Are_GM_No_Longer_Making\" title=\"5. What Cars Are GM No Longer Making?\">5. What Cars Are GM No Longer Making?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#6_Did_GM_or_Chevy_Come_First\" title=\"6. Did GM or Chevy Come First?\">6. Did GM or Chevy Come First?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#7_Who_Owns_Most_of_GM\" title=\"7. Who Owns Most of GM?\">7. Who Owns Most of GM?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#8_How_Much_of_GM_Does_Warren_Buffett_Own\" title=\"8. How Much of GM Does Warren Buffett Own?\">8. How Much of GM Does Warren Buffett Own?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#9_What_Does_GM_Own_Now\" title=\"9. What Does GM Own Now?\">9. What Does GM Own Now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#10_Is_GM_Making_Money\" title=\"10. Is GM Making Money?\">10. Is GM Making Money?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#11_Does_GM_Own_Ford\" title=\"11. Does GM Own Ford?\">11. Does GM Own Ford?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#12_What_Was_GMs_First_Car\" title=\"12. What Was GM&#8217;s First Car?\">12. What Was GM&#8217;s First Car?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#13_Why_Did_GM_Stop_Making_Big_Trucks\" title=\"13. Why Did GM Stop Making Big Trucks?\">13. Why Did GM Stop Making Big Trucks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#14_What_Year_Did_GM_Skip_the_Corvette\" title=\"14. What Year Did GM Skip the Corvette?\">14. What Year Did GM Skip the Corvette?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/#15_Is_GM_Still_Owned_by_the_Government\" title=\"15. Is GM Still Owned by the Government?\">15. Is GM Still Owned by the Government?<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"What_year_did_GM_fail\"><\/span>What year did GM fail?<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>General Motors (<strong>GM<\/strong>) failed in <strong>2009<\/strong>, when it filed for <strong>bankruptcy<\/strong> and underwent a <strong>reorganization<\/strong> process, marking a significant turning point in the company&#8217;s history. This event was a culmination of several factors, including <strong>declining sales<\/strong>, <strong>increased competition<\/strong>, and <strong>high employee-related fixed costs<\/strong>, which ultimately led to the company&#8217;s <strong>financial struggles<\/strong>. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Introduction_to_GMs_History\"><\/span>Introduction to GM&#8217;s History<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Early_Years_and_Success\"><\/span>Early Years and Success<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>General Motors was founded in <strong>1908<\/strong> and quickly rose to become one of the largest and most successful automobile manufacturers in the world, known for its <strong>iconic brands<\/strong> such as <strong>Chevrolet<\/strong>, <strong>Buick<\/strong>, <strong>GMC<\/strong>, and <strong>Cadillac<\/strong>. At its peak in <strong>1962<\/strong>, GM produced <strong>51%<\/strong> of all cars in the United States, with its <strong>75 millionth<\/strong> U.S.-made car rolling off the assembly line that year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span>Frequently Asked Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"1_What_Caused_GM_to_Fail\"><\/span>1. What Caused GM to Fail?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>GM&#8217;s failure was largely due to its inability to adapt to <strong>changing market conditions<\/strong>, including <strong>rising gas prices<\/strong> and <strong>increased competition<\/strong> from foreign automakers, which led to <strong>declining sales<\/strong> and <strong>revenue<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_When_Did_GM_Go_Out_of_Business\"><\/span>2. When Did GM Go Out of Business?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>GM did not completely go out of business, but rather underwent a <strong>reorganization<\/strong> process in <strong>2009<\/strong>, which involved the creation of a new entity that purchased the company&#8217;s <strong>continuing operations<\/strong>, <strong>assets<\/strong>, and <strong>trademarks<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_What_Happened_to_GM_Stock\"><\/span>3. What Happened to GM Stock?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The old GM stock stopped trading on the <strong>New York Stock Exchange<\/strong> on <strong>June 1, 2009<\/strong>, and each share became a share in <strong>Motors Liquidation<\/strong>, which was the company responsible for winding down GM&#8217;s <strong>old assets<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Who_Saved_GM\"><\/span>4. Who Saved GM?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>GM was saved by <strong>government funding<\/strong> from both <strong>Presidents Bush and Obama<\/strong>, which provided the necessary <strong>financial support<\/strong> for the company to undergo its <strong>reorganization<\/strong> process.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_What_Cars_Are_GM_No_Longer_Making\"><\/span>5. What Cars Are GM No Longer Making?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>GM is no longer making several brands, including <strong>Hummer<\/strong>, <strong>Oldsmobile<\/strong>, <strong>Pontiac<\/strong>, <strong>Saturn<\/strong>, and <strong>Saab<\/strong>, which were either <strong>discontinued<\/strong> or <strong>sold<\/strong> to other companies.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_Did_GM_or_Chevy_Come_First\"><\/span>6. Did GM or Chevy Come First?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Chevrolet<\/strong> was founded in <strong>1911<\/strong> by <strong>Louis Chevrolet<\/strong> and <strong>William C. Durant<\/strong>, and it later acquired a controlling interest in <strong>General Motors<\/strong> in <strong>1918<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_Who_Owns_Most_of_GM\"><\/span>7. Who Owns Most of GM?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The largest shareholders of GM include <strong>BlackRock Inc.<\/strong>, <strong>Vanguard Group Inc<\/strong>, and <strong>State Street Corp<\/strong>, among others, which collectively own a significant portion of the company&#8217;s <strong>outstanding shares<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"8_How_Much_of_GM_Does_Warren_Buffett_Own\"><\/span>8. How Much of GM Does Warren Buffett Own?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Warren Buffett<\/strong> owns approximately <strong>1.59%<\/strong> of GM&#8217;s <strong>outstanding shares<\/strong>, which is valued at over <strong>$643 million<\/strong>, making him one of the company&#8217;s largest shareholders.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"9_What_Does_GM_Own_Now\"><\/span>9. What Does GM Own Now?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>GM owns and operates several <strong>automobile brands<\/strong>, including <strong>Chevrolet<\/strong>, <strong>Buick<\/strong>, <strong>GMC<\/strong>, <strong>Cadillac<\/strong>, and <strong>Hummer<\/strong>, which are sold in markets around the world.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"10_Is_GM_Making_Money\"><\/span>10. Is GM Making Money?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yes, GM is making money, with <strong>$44.7 billion<\/strong> in <strong>revenue<\/strong> and <strong>$2.6 billion<\/strong> in <strong>net income<\/strong> in the second quarter of <strong>2023<\/strong>, despite facing challenges in the <strong>global automotive market<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"11_Does_GM_Own_Ford\"><\/span>11. Does GM Own Ford?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>No, GM does not own <strong>Ford<\/strong>, which is a separate and independent automaker that competes with GM in the <strong>global market<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"12_What_Was_GMs_First_Car\"><\/span>12. What Was GM&#8217;s First Car?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>GM&#8217;s first car was the <strong>1908 Cadillac<\/strong>, which was produced after the company was founded in <strong>1908<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"13_Why_Did_GM_Stop_Making_Big_Trucks\"><\/span>13. Why Did GM Stop Making Big Trucks?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>GM has not stopped making big trucks, but rather has <strong>adjusted its production<\/strong> to meet <strong>changing market demands<\/strong> and to prevent <strong>overproduction<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"14_What_Year_Did_GM_Skip_the_Corvette\"><\/span>14. What Year Did GM Skip the Corvette?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>GM did not produce a <strong>Corvette<\/strong> for the <strong>1983<\/strong> model year, due to <strong>delays<\/strong> in production and <strong>upgrades<\/strong> to the assembly line.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"15_Is_GM_Still_Owned_by_the_Government\"><\/span>15. Is GM Still Owned by the Government?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>No, GM is no longer owned by the <strong>U.S. government<\/strong>, which sold its remaining shares in the company in <strong>2013<\/strong>, marking the end of the <strong>government&#8217;s ownership<\/strong> of the automaker.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What year did GM fail? General Motors (GM) failed in 2009, when it filed for bankruptcy and underwent a reorganization process, marking a significant turning point in the company&#8217;s history. This event was a culmination of several factors, including declining sales, increased competition, and high employee-related fixed costs, which ultimately led to the company&#8217;s financial &#8230; <a title=\"What year did GM fail?\" class=\"read-more\" href=\"https:\/\/www.gameslearningsociety.org\/wiki\/what-year-did-gm-fail\/\" aria-label=\"More on What year did GM fail?\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-331980","post","type-post","status-publish","format-standard","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/www.gameslearningsociety.org\/wiki\/wp-json\/wp\/v2\/posts\/331980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gameslearningsociety.org\/wiki\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gameslearningsociety.org\/wiki\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gameslearningsociety.org\/wiki\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gameslearningsociety.org\/wiki\/wp-json\/wp\/v2\/comments?post=331980"}],"version-history":[{"count":0,"href":"https:\/\/www.gameslearningsociety.org\/wiki\/wp-json\/wp\/v2\/posts\/331980\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gameslearningsociety.org\/wiki\/wp-json\/wp\/v2\/media?parent=331980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gameslearningsociety.org\/wiki\/wp-json\/wp\/v2\/categories?post=331980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gameslearningsociety.org\/wiki\/wp-json\/wp\/v2\/tags?post=331980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}