Although the automaker assembles most of its cars in the United States, GM also manufactures a large percentage of its cars in Asia: Most of GM’s cars dedicated to the Chinese market are produced locally, and a Buick was the first car to be produced in Shanghai’s GM plant in 1998. In 2018, the company announced that it would undergo a staff transformation: 15 percent of salaried and salaried contract staff are to be reduced, while production in five North American plants, including the Lordstown Assembly plant in Ohio, is to be put on hold.
General Motors was formed in 1908 under William C. Durant in Flint, Michigan. GM sold its European brands to PSA in March 2017, but continues to own several of the most iconic U.S.-built car brands, including Buick, Chevrolet, and Cadillac. During the automotive industry crisis in 2008 and 2009, GM became vulnerable to the market recession. In 2009, the company was able to re-emerge due to a Chapter 11 reorganization backed by the government, allowing a “new GM” to purchase operational assets from the “old GM”. It is estimated that the U.S. government laid out over 11 billion U.S. dollars for the bailout. Since the company’s IPO in 2010, GM’s revenue increased up until 2016, when it decided to spin off its European business. With that said, General Motors is still considered one of the leading car brands in the United States.