Business

Difficulties of General Motors
by Barbora Misakova

Sometimes also big companies are having problems. This time the turn probably comes on General Motors, which had to face a loss of market share. General Motors, also known as GM, is an American corporation founded in 1908 in Michigan. After a long years period it had become the world's largest producer of cars around the world. It has manufactures in 33 countries and has more than 250 000 employees around the world. Their trucks and cars are made under familiar brands such as Chevrolet, Hummer, Opel or Cadillac and in 2006 GM produced more than 9 million vehicles. These days it looks like this whopper in the car industry has problems. Although GM still holds global sales on the number outnumbering 9 million vehicles, Toyota's report showed even better results. Also other problems are connected with GM & they had to shut some of their factories and the losses touched also workers when thousands of them were fired. Mike DiGiovanni who is director of global product planning in GM said it is not as horrible as it is interpreted, because the General Motors runs its business not on the high numbers of sold vehicles but on long-term profitability, and they are still successful in this matter. On the other hand not only GM had problems. Although Toyota sales increased in 2007, it had to face troubles at home where its domestic sales decreased. General Motors is still successful outside the US where its sales number shows 5.5 million sold vehicles. Also Far East respect products of this automobile company so its sales in China made from GM the first global automaker which sold more than 1 million of vehicles there. Also sales in Russia and Brazil are satisfactory. All these facts lead me to only one conclusion & also big "animals" can have some little troubles from time to time. And even though I am not a car's fan I am too kind-hearted not to wish General Motors lot of successes in the future.

related story: http://news.yahoo.com/s/afp/20080123/bs_afp/usjapanautocompanygmtoyota_080123231456;_ylt=AiM1L1.EB2F7cmNCZwr6d3Cs0NUE

by Barbora Misakova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 2:06 PM