GMC stands for ‘General Motor Co..’ It is also called the ‘General Motors Truck Company. It has its headquarters in Detroit, Michigan, in the great nation of the United States of America. They began with manufacturing trucks and utility vehicles before diving into SUVs and pick-up trucks too. They primarily cater to high-end markets. Their product line presently includes pick-up trucks, light-duty trucks, SUVs, and vans- all for the premium markets. In addition to these, GMC also manufactured ambulances, motorhomes, military vehicles, fire trucks, heavy-duty trucks, medium-duty trucks as transit buses back in the day. Here, we’ll know Who Owns GMC?
The parent organization of GMC is General Motors. General Motors, in turn, is owned by multiple shareholders. Including General Motors Truck Company, General Motors has had 43 brands working under their umbrella since it was founded in 1908. Therefore, General Motors has had 43 brands, working at some point or another spanning over 113 years. Presently, four well-known and extensively renowned automobile brands are owned by General Motors, namely, Buick, Cadillac, Chevrolet, and GMC. In addition, Hummer is a subdivision under the brand General Motors Co. Pontiac and Saturn are also General Motors-owned companies that have retired. However, their cars are still in use and sold second-hand.
GMC Speciality
GMC vehicles are very respected in the automobile market worldwide. Among all the variety of cars produced by the GMC, the 2006 Silverado Intimidator is the best. It was introduced to overcome the shortcomings of its predecessor- Silverado SS. This particular truck pays tribute to the late Dale Earnhardt Sr. The number of this product produced by the company was only 1,333 because 3 was Earnhardt’s favorite number.
GMC Upcoming
- The company has an exciting much-anticipated lineup for its customers in 2021 and 2022.
- The company has planned to release three large electric pick-up trucks. The 2022 GMC Hummer EV-a, a sport utility truck, is one such awaited release.
- The price of the vehicle would be starting at $112,595.
- This truck is supposed to be the best choice for customers who love and are looking for performance, capability, automotive innovation, and technology, all packed in one truck.
- Its performance would be no lesser than that of a luxurious sports car; the time it takes to go from 0 to 60 mph is only 3 seconds.
- It will be in competition with other electric cars from Tesla, Ford Motor, etc.
GMC Plants
As mentioned above, the GMC headquarters are situated in Detroit, Michigan. Different products of the GMC are manufactured at the number of General Motors plants expanded over the United States of America and Canada. Some of the few significant plants are listed down further.
- The plant at Roanoke, Indiana, called the Fort Wayne Assembly Plant, builds the GMC Sierra.
- The GMC Yukon and Yukon XL are made in a plant called Arlington Assembly Plant, situated in Delta Township in Michigan.
- The Shreveport Operations build the GMC Canyon at Shreveport, which is in the state of Louisiana.
- There is a plant in Wentzville, Missouri as well, which makes the GMC Savana.
- Lastly, the plant in Canada is situated in Ingersoll, Ontario, called the CAMI Assembly Plant. It produces the GMC Terrain.
History of GMC
William C. Durant- one of the founders of General Motors- had acquired Rapid Motor Vehicle Company and Reliance Motor Car Company in 1909 and 1908, respectively, and made them subsidiaries under General Motors. In 1911, General Motors Truck Company was founded, and nd subsequently, the Bove mentioned merged companies into it. The names Rapid and Reliance were let go of to accept GMC as the new brand name.
In 1912 at New York’s Auto Show, they used the company name- ‘GMC Truck’ for the first time. However, it was only eight months later that the founders patented the name. In the very same year, the company sold 22,000 units of their first mass-produced truck.
In 1916, a 1.5-ton GMC traveled from New York to Seattle and back to New York in less than 32 days, making it the first truck to do so.
In comparison to its contemporaries
GMC v Chevrolet
Found both these companies in the same year. William Durant founded General Motors Co on 22nd July 1911, and Chevrolet was founded by Louis Chevrolet and William Durant when he was ousted from General Motors on 3rd November 1911.
GMC and Chevrolet are both subdivisions of the parent company General Motors currently. The GMC only deals with trucks, vans, and SUVs; the Chevrolet, in addition to these, also makes sedans, compact and sub-compact cars making it General Motor’s most successful brand. GMC trucks are more for professionals, and the Chevrolet ones are better suited for regular drivers. While Chevrolet offers high-end models, too, GMC does not have a basic standard range.
The trucks are majorly produced in the same production plants. The trucks by GMC are more expensive. They use premium material as compared to the materials used for trucks by Chevrolet. The suspension’s bushing in trucks by GMC are made of a softer material because of which while it is perfect and smooth to drive, it also needs to be replaced much sooner.
The GMC also offers more excellent interiors, and on a few select models, more equipment is provided.
For the longest time, the trucks by both these companies are said to be mostly the same. However, this changed in 2018 when Chevrolet launched its 2019 Silverado, and the GMC came up with Sierra.
GMC v Ford
Ford was founded by Henry Ford in Detroit, Michigan, in the United States of America on 16th June 1903. Its headquarters is based in Dearborn, Michigan. Both these companies have played a massive role in shaping the automobile sector in the US and the world and how it is today.
While GMC is a much smaller company than Ford, they still have been each other’s most significant competitor worldwide.
Mileage is a crucial aspect while choosing a vehicle that fits all your requirements. GMC vehicles are reported to be having issues once the mileage goes up. Ford, in this aspect, can go any distance with any problem.
Both the companies use state-of-the-art technology in their models. For example, Ford makes available a 12 speaker Sony audio system in their cars, and this feature is lost in GMC vehicles. Ford also allows its customers to monitor their vehicles through their smartphones using the MyFord app.
Other various companies make trucks and compete with GMC. But the customers are loyal to the company and cannot even think of switching to any other truck company.
About GM
In June 2009, after a series of bad financial and management decisions, General Motors had to file for bankruptcy. The then US Government assisted them because no bank was willing or even had the money to bail them out. The government bought two-third ownership of General Motors for $50 billion. The company in 2010 became one of the world’s top five largest IPOs after they made their initial public offering. The company became profited later in the year.
Mary Barra is the CEO of the company and has been since January 15th, 2014. Before she was made the CEO and the Chairperson, she served as the GM executive vice president. She owns 520,608 shares (as per 2020 reports), making her the largest individual shareholder of General Motors.
Mark Russ is the president of the General Motors Company since January 2019. He is the second-largest individual shareholder owning 203,934 shares (as per 2020 reports) of the General Motors Company.
Paul Jacobson is the executive vice president and the Chief Financial Officer since December 2020. Before holding this post, he was at Delta Air Lines as the CFO.
Conclusion
While it is true that the GMC and General Motors have seen all kinds of ups and downs in the automobile sector, they have stuck. They have passed the test of times and emerged on the other side victorious. Their new products look more promising than ever, and the customers appreciate them. They are changing with the times and coming up with more recent and fresher technology in the traditional trucks.
FAQs
- Does Chevy own general Motors Truck Company?
Ans: GMC is owned by General Motors. General Motors also own Chevy. Other companies that come under General Motors are Buick and Cadillac.
- Will Pontiac ever be back by GMC?
Ans: To try to save itself from bankruptcy and save the corporation, General Motors removed the Pontiac, and it cost them billions of dollars. Pontiac will not be repurchased.
- Is Buick going to be discontinued by General Motors?
Ans: General Motors has discontinued most of its cars because they were facing losses. One of the cars that killed was the Buick Regal.
So no, Buick is not being discontinued, but they are now concentrating on its SUVs.
