General Motors has dropped to number 15 on the Fortune 500 list, out of the top ten for the first time in 101 years. Ford dropped one spot, from number seven to number eight. Weirdly, without a massive bailout from the US Government, GM wouldn’t even exist. This is the first time in the history of the company that it hasn’t been in the top 10.
2009 was an unmitigated disaster, not only for GM for for the entire auto industry. The General definitely took the worst of it though. It was a year spent paring down brands, closing dealers, laying off employees, and chewing through three different CEOs.
While Ford’s year was no banner-maker, that company has introduced a product line up that seems to be doing a better job than any other domestic manufacturer at dragging stalwart import buyers back to an American brand. Please don’t take that as a compliment, as we aren’t sure we’d be “proud” of luring import buyers to American cars that look and feel like imports, but at least they are paying the bills. Ford dropped a spot, but are in a position they’ve never been in before with regard to the 500 list. They’re ahead of GM.
Chrysler? That’s a whole different kettle of fish.
Source — MLive.com — General Motors falls out of top ten of Fortune 500 list for the first time in 101 years
