Manufacturing Magazine April 2018 | Page 57

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GENERAL MOTORS www . gm . com

Detroit auto manufacturer General
Motors reported a net revenue of $ 166.38bn in 2017 , a figure only surpassed in the past 10 years by prerecession sales . After posting $ 1.8bn in net losses between 2014 and 2016 , General Motors Korea announced in February 2018 that it would close one of its four plants in South Korea . “ The move is the latest in a series of steps the US automaker has taken to put profitability and innovation ahead of sales and volume . Since 2015 GM has exited unprofitable markets including Europe , Australia , South Africa and Russia ,” CNBC reports .

DAIMLER www . daimler . com

Daimler , the Stuttgart-based German auto manufacturer , reported a net revenue of $ 169.54bn in 2017 , representing an increase of almost $ 4bn over the previous financial year . The company announced in February that it had a record year in sales , with over 3.3mn new vehicles delivered , representing a 9 % increase over the previous year . Daimler ’ s board chairman , Dieter Zetsche , announced : “ Our company stands for stable success in volatile times . But stability is no justification [ to stand still ]. That ’ s why we are pushing forward with the transformation in all areas at Daimler .” 3 57