Chevrolet is a successful car model in India. It is the only brand that General Motors (GM) sells in the fast growing market of India. The cars of Chevrolet launched in India include Spark, Captiva, Cruze, Optra Magnum, Tavera and Aveo. Cruze was launched in India in October 2009.
Chevrolet was founded by Louis Chevrolet in 1911. GM acquired the company in 1917. Chevrolet is a best selling brand of GM. Chevrolet was launched by GM in India in June, 2003. Earlier GM used to sell its Opel brand in the country with Opel Corsa, Opel Astra, and Opel Vectra available for buyers in the market. The Indian car market is growing and it is a great opportunity for Chevrolet to explore the growth potentials of the market.
GM is among the world's largest corporate house. It is regularly ranked among the Fortune Global 500 companies by Fortune magazine. GM sells its products in 140 countries of the world. It also manufactures its cars in 34 countries. The total number of GM employees is around 244,500.
GM was founded in Michigan in 1908. The company was going through financial crisis during the recent economic recession. The cost factor helped by fall in sales worldwide contributed to the company's woes. The company filed for Chapter 11 bankruptcy on June 1, 2009. After a reorganization, a new entity has acquired the most valuable assets of GM.
As of now, the United States Treasury and the Canadian government are majority stake holders in GM. The US government had given support of $ 57.6 billion to GM during the Troubled Asset Relief Program. GM is planning to go for initial public stock offering in 2010. The company has sold its iconic brand Hummer to Chinese Sichuan Tengzhong Heavy Industrial Machinery Company.
GM's core businesses include Chevrolet, Cadillac, Buick, and GMC. The company is headquartered at Renaissance Center in Detroit, Michigan. GM is also majority shareholder in GM Daewoo Auto & Technology Co. of South Korea. The company has collaborations with many companies of the world. These companies include Ford, Fiat, UzAvtosanoa, AvtoVAZ and Shanghai Automotive Industry Corporation.
GM focuses on its core brands Chevrolet, Cadillac, Buick, and GMC in the North America. While in the growing auto market of India, the company focuses on Chevrolet.