General Motors Corporation filed for bankruptcy on June 1, 2009, and a new General Motors Company,which acquired many of the strongest assets of the old company, was created July 10, 2009, with theU.S. Treasury, Canadian governments, and the UAW Retiree Medical Benefit Trust as its major shareholders.
This new GM is smaller, leaner company than its predecessor. It has four brands in the U.S.: Chevrolet, Buick, GMC, and Cadillac. It has a more focused network of 4,500 dealers and competitive labor agreements with its unions. Globally, GM continues to grow rapidly, and more than 70 percent of its sales now come from outside the U.S. GM’s top five markets by sales are now China, the United States, Brazil, the United Kingdom, and Germany.
Re-emerging at the new GM is the competitive spirit that, for decades, drove GM to leadership in styling, technology, engineering, marketing, and other key areas of the auto business. This spirit guides the new GM as it works to design, build, and sell the world’s best vehicles.