2. General Motors (USA)
By sales, General Motors ranked as the largest U.S. automaker and the world’s second largest. General Motors had the third highest global revenues among automakers on the Fortune Global 500. Amongst GM’s more famous brands worldwide are Cadillac and Chevrolet. General Motors was established in 1908 by William C. Durant. GM was world’s number one car company for consecutive 77 years from 1931 to 2007. Because of the economic conditions, the car giant went bankrupt on June 1, 2009. On 10th July 2009, the company emerged from “Chapter 11 bankruptcy” reorganization. While no GM shares are currently available to the public, the company plans an initial public stock offering (IPO) in 2010.
1. Toyota (Japan)
Japanese car maker Toyota Motor Corporation is the world’s largest car manufacturer. It manufactures about 9,237,780 units per year. The widest produced model is likely to be ‘Corolla’ which is one of the most popular and best selling cars in the world. The Japanese giant has been severely affected by the 2007-2009 financial crises with a loss of US$4.4 billion. The company was founded by Kiichiro Toyoda in 1937 as a spinoff from his father’s company Toyota Industries to create automobiles. In 1934, it created its first product, the Type A engine, while still a department of Toyota Industries. It manufactured its first passenger car the Toyota AA in 1936. Toyota also owns and operates Lexus and Scion brands and has a majority shareholding stake in Daihatsu and Hino Motors, and minority shareholdings in Fuji Heavy Industries, Isuzu Motors, Yamaha Motors, and Mitsubishi Aircraft Corporation.