The General Motors Company (GM) is an American multinational automotive manufacturing company headquartered in Detroit, Michigan, United States. It is the largest automaker in the United States and was the largest in the world for 77 years before losing the top spot to Toyota in 2008.
The Saturn Corporation, also known as Saturn LLC, was an American automobile manufacturer, a registered trademark established on January 7, 1985, as a subsidiary of General Motors. The company was an attempt by GM to compete directly with Japanese imports and transplants, initially in the US compact car market.
GMC is a division of American automotive manufacturer General Motors (GM) for trucks and utility vehicles. GMC currently makes SUVs, pickup trucks, vans, and light-duty trucks. In the past, GMC also produced fire trucks, ambulances, heavy-duty trucks, military vehicles, motorhomes, transit buses, and medium duty trucks.
In the United States, a car dealership is a business that sells cars. A car dealership can either be a franchised dealership selling new and used cars, or a used car dealership, selling only used cars. In most cases, dealerships provide car maintenance and repair services as well as trade-in, leasing, and financing options for customers.
Daewoo Motors was a South Korean automotive company established in 1937 as "National Motors". The company changed its name several times until 1982 when it became "Daewoo Motors" following its acquisition by the Daewoo Group. After running into financial difficulties, it sold most of its assets in 2002 to General Motors at $1.2 billion, becoming a subsidiary of the American company. In 2011, the name "Daewoo" was definitively removed with the company being renamed GM Korea and the Daewoo brand replaced by the Chevrolet marque.
Ally Financial is a bank holding company organized in Delaware and headquartered at Ally Detroit Center in Detroit, Michigan. The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and an electronic trading platform to trade financial assets.
Ditech Financial LLC was a provider of home loan, loan servicing and refinance products to consumers and institutional partners in the U.S.
In the automotive industry, the term Big Three is used for a country's three largest motor vehicle manufacturers, especially indicating companies that sell under multiple brand names.
GMAC ResCap, Inc. was a residential mortgage loan originator and servicer based in Minneapolis, United States. As a result of its exposure to subprime lending during the subprime mortgage crisis, the company filed for bankruptcy protection in 2012 and underwent liquidation in December 2013.
Manheim, Inc. is an automobile auction company and the world's largest wholesale auto auction, based on trade volume with 145 auctions located in North America, Europe, Asia and Australia. As a subsidiary of Cox Automotive, a subsidiary of privately owned Cox Enterprises, Inc. based in Atlanta, Georgia, Manheim's primary business is wholesaling vehicles via a bidding process using traditional and online formats. Manheim also provides other vital dealership and wholesale services, such as financing, title work, transportation, recovery, auto body repair, dealership management systems, dent repair and automotive reconditioning, and automotive re-marketing at each location.
Car finance refers to the various financial products which allow someone to acquire a car, including car loans and leases.
Beginning in the later half of 2008, a global-scale recession adversely affected the economy of the United States. A combination of several years of declining automobile sales and scarce availability of credit led to a more widespread crisis in the United States auto industry in the years of 2008 and 2009.
The 2009 General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through Chapter 11, Title 11, United States Code in the United States bankruptcy court for the Southern District of New York. The United States government-endorsed sale enabled the NGMCO Inc. to purchase the continuing operational assets of the old GM. Normal operations, including employee compensation, warranties, and other customer services were uninterrupted during the bankruptcy proceedings. Operations outside of the United States were not included in the court filing.
The automotive industry in the United States began in the 1890s and, as a result of the size of the domestic market and the use of mass production, rapidly evolved into the largest in the world. The United States was the first country in the world to have a mass market for vehicle production and sales and is a pioneer of the automotive industry and mass market production process. During the course of the 20th century global competitors emerged especially in the second half of the century primarily across European and Asian markets, such as Germany, France, Italy, Japan and South Korea. The U.S. is currently second among the largest manufacturer(s) in the world by volume.
Chevrolet-Saturn of Harlem, Inc., was a car dealership in the East Harlem neighborhood in New York City. Originally touted as a minority-owned dealership and part of the only new-car facility in Harlem, it was abandoned by its original operator within months and was taken over by General Motors directly. On June 1, 2009, it was used as the lead company in the General Motors Chapter 11 reorganization filing in New York.
Motors Liquidation Company (MLC), formerly General Motors Corporation, was the company left to settle past liability claims from Chapter 11 reorganization of American car manufacturer General Motors. It exited bankruptcy on March 31, 2011, only to be carved into four trusts; the first to settle the claims of unsecured creditors, the second to handle environmental response for MLC's remaining assets, a third to handle present and future asbestos-related claims, and a fourth for litigation claims.
John M. McNamara is an American convicted felon and former businessman. McNamara was convicted of a Ponzi scheme fraud through gaining loans to a value of $6 billion from General Motors financing arm GMAC, to develop a $400M car sales and property development business.
In 1926 A.A (Andy) Murray began to sell Star, Essex and Hudson cars from his agricultural implements business in Souris, Manitoba. By 1934 Andy had expanded his operation to include the General Motors line, which was to become one of the world’s largest automobile manufacturers. Over the decades the business has continued to grow and has now evolved into a group that consists of 30 Canadian dealerships from coast to coast. Today, The Murray Automotive Group has over 1,500 employees and sells nearly 15,000 vehicles each year. Claire’s sons, Doug, Paul, Dan and chris are the 3rd generation in the business. Logan Murray, Madi Murray, lyndsay Murray, Mitch and Grayson Murray are 4th generation Murray’s involved in the business.
DriveTime Automotive Group Inc. is an American used car retailer and finance company. It is based in Tempe, Arizona, and sells and finances cars to customers around the nation. The company was formerly known as Ugly Duckling and was renamed DriveTime in 2002. It also spun off Carvana and GO Financial, SilverRock Group Inc, and Bridgecrest Acceptance Corporation. As of 2018, DriveTime had approximately 145 locations in the U.S. and 3,800 employees.
The electric car company Tesla, Inc. has faced dealership disputes in several U.S. states as a result of local laws. In the United States, direct manufacturer auto sales are prohibited in many states by franchise laws requiring that new cars be sold only by independent dealers. Tesla maintains that, to properly explain to their customers the advantages their cars have over "traditional" vehicles with an internal combustion engine, they cannot rely on third-party dealerships to handle their sales.
