Impact of Financial Losses for GM Auto Manufacturers - Essay ExampleBy mid-century, the automobile was a necessity in every U. S. household, and GM led the way with Ford and Chrysler close behind. The Big Three controlled the industry from Detroit, Michigan. According to Wikipedia, the period from 1960-1985 was perhaps the "greatest in GM's history, as it eventually held slightly over 50% of the U.S. Market" (General Motors, 2006, 2.3). At the time, it was all about status, having the most popular brand. Unfortunately, in the mid 1990s, a downward spiral began, which has yet to be resolved for American car makers. It could have been predicted in 1984 when a joint venture between GM and Toyota gave Toyota an opportunity to establish a base in the United States and avoid newly established tariff on foreign pick-up trucks. Toyota's growth has accelerated ever since, with a $4.1 billion dollar gain in 2005 compared with GM's $10.6 billion dollar loss ( Solman, 2006).
