General Motors Company, commonly known as GM, is an American multinational corporation headquartered in Detroit, Michigan, that designs, manufactures, markets and distributes vehicles and vehicle parts and sells financial services. General Motors is divided into five business segments: GM North America (GMNA), Opel Group, GM International Operations(GMIO), GM South America (GMSA), and GM Financial.:12, 13 General Motors led global vehicle sales for 77 consecutive years from 1931 through 2007, longer than any other automaker, and is currently among the world's largest automakers by vehicle unit sales.
tem 1. Business
We design, build and sell cars, trucks and automobile parts worldwide. We also provide automotive financing services through Company, Inc. (GM Financial).
Also the company sell products to their dealers for consumer retail sales, it also sell cars and trucks to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies and governments. The company sell vehicles to fleet customers directly or through our network of dealers. the retail and fleet customers can obtain a wide range of aftersale vehicle services and products through our dealer network, such as maintenance, lightrepairs, collision repairs, vehicle accessories and extended service warranties.
Fleet Sales and Deliveries
The sales and market share data provided previously includes both retail and fleet vehicle sales. Certain fleet transactions, particularly daily rental, are generally less profitable than retail sales. A significant portion of the sales to daily rental car companies are recorded as operating leases under U.S. GAAP with no recognition of revenue at the date of initial delivery due to guaranteed repurchase obligations. The following table summarizes estimated fleet sales and those sales as a percentage of total vehicle sales. Fleet sales data may include rounding differences (vehicles in thousands):Years Ended...
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