Headquarters: Detroit
Revenue: $152.3 billion
Profit: $6.2 billion
2012 rank: 5
The US Treasury Department announced Monday that it would begin another round of sell-offs of its General Motors stake, which it has held since the 2009 auto industry bailout. At its peak, the Treasury owned 60.8 percent of GM; now, it owns just under 18 percent.
Like Ford, GM’s year-over-year auto sales in April were buoyed by pickup trucks, with GM’s overall US sales increasing 11 percent on the year. Looking forward, the company is very focused on the Asian market, drawing critiques from some that the bailout ended up benefiting China, where GM sales in April were around 10 percent higher than in the US. GM has rebutted that charge, saying that its investments in China have come from its revenues earned in China.
