.Additionally, GMAC funded 43% of all GM sales in the second quarter, but only 20% of funding in September" (Wurtzel 2008)
I wrote what I saw. I took no action -- even opinion is a kind of an action (Greene 29)
(Robison). Health care benefits account for a huge chunk of this amount, about $1,400 for each vehicle (Porretto)
The company spends $2,500 more than its Japanese rivals to build each car and truck in the U.S. (Robison)
The company's $291 billion in debt has recently been downgraded to below investment grade and it has about $16.5 billion of debt coming due this year (Snide)
2 largest automaker in the world, overtaking Ford Motor Co. (Tierney, et
GM has lost its image for quality manufacturing, and even when industry trade magazines have praised some of its models, consumers have still shied away, particularly American consumers on the East and West coasts (Loomis 2006:1). But abroad, GM is actually doing better than it is at home, in areas of the world where the desire for classically styled, luxury American models is expanding, along with a newly affluent middle class -- "GM's sales jumped by 75% in Russia and by 21% in China," the same year GM was $39 billion dollars in the red" (Clark 2007:1)
But the company's largesse, passed onto employees in the form of generous benefits and pensions, also meant that when the company began to falter it became "engulfed by obligations way beyond its ability to pay" former employees, and created a drain upon its bottom line. (Loomis 2006:1)
On December 21, 1955 it was the first American company to make over one billion dollars in a year ("General Motors," 2008, Histomobile). Today, GM "is feeling good about the automaker's progress, especially in the troubled heart of its business: making and selling cars in North America," as it reached a historic agreement with the United Auto Workers "to push responsibility for retiree health care off GM's books, a burden" that had been adding an estimated "$1,400 to the cost of every car and truck" GM manufactured in North America (Taylor 2008:1)
Further, the automaker states that to cover the costs of healthcare the price per vehicle needs to increase $1,500 and in 2008, could reach $2,000 per vehicle (2) an astounding figure given the rapid production cost declines and vehicle pricing at both Honda and Toyota. Exacerbating these costs is the fact that UAW members pay only 7% of their own healthcare costs while salaried employees pay 27% (Jacoby, 1)
Exacerbating these costs is the fact that UAW members pay only 7% of their own healthcare costs while salaried employees pay 27% (Jacoby, 1). In an interview with the Detroit News, incoming president of GM estimated that healthcare costs would grow by almost 15% annually (Vlasic, 1)
1 million employees and former employees, costing the company $5.6B in healthcare expenses in 2006 (Teslik, 1)
This huge scale of operations enables it to experience diverse types of laws, regulations, cultures, societal patterns, and consumer responses. Generally, the automobile companies are criticized for their manufacturing operations which affect the environment through air and noise pollution (Banerjee, 2007)
Durant. It has a very well-established brand image across the Globe with a high level of brand acceptability and loyalty by its customers and stakeholders (General Motors, 2012)
Durant. It has a very well-established brand image across the Globe with a high level of brand acceptability and loyalty by its customers and stakeholders (General Motors, 2012)
Durant. It has a very well-established brand image across the Globe with a high level of brand acceptability and loyalty by its customers and stakeholders (General Motors, 2012)
There are a number of environmental factors that affect its business operations in one way or another. Social, ethical, and environmental issues are among those factors that not only affect its operational performance, but also have a direct impact on its sustainability and public image in the Global market (Hill, 2010)
pre-era-2007 and before as well as during and after 2007 as explained below: Pre-era 2007: This is basically the period between the inception of the company and the period of harsh economic times that resulted in General Motors adopting innovation and challenges from 2000-2008. The beginning of this company is traced back to early 1900s when it was founded by William Durant, a shrewd business man who recognized that the future was not in carriages but rather in cars (Halliday, 2009)
For consumers and market/positioning, these three aspects help in the development of effective advertisement and marketing strategies. These elements help in the development of integrated marketing communications, a holistic approach to marketing communication that help in ensuring consistency of the message and the efficient use of media (Kant, 2011)
4% share of the Chinese market (Stoll, 2009). The company is also focused on expanding operations in India, also through joint ventures such as one with SACI Motor Corp, and sees promise in dealer expansion in India into rural areas (Anant, 2010)