General Motors is riding high amidst news that it has posted the biggest initial public offering in US history. This is at the heels of better than expected profit performance in the first three quarters of 2010.
Initially pegged at $27 per share, the initial public offering was expanded to $33 per share due to the huge investor demand for GM stock, pointing to a GM that is poised to create a stronger presence in the automotive industry in the years to come.
General Motors' recent accomplishments are rooted in the company's renewed commitment to a more successful company that is able to present the best products to the public. The overriding goal has always been to design, manufacture, and sell quality built vehicles that remain relevant to the modern consumer with products that blend comfort, durability and practicality.
Steps from reviewing existing operations in Detroit to changing corporate structures that have proved inefficient were all undertaken to deliver quality that doesn't come at a terribly high cost. It all ties in to the plan of boosting consumer confidence in the brand, and the demand for GM stock is an indication that everything is going according to plan.
GM's overall success has also been attributed to a good showing in some key Asian markets. The Covenant Car Company Inc. in the Philippines, the exclusive importer and distributor of Chevrolet automobiles and parts in the country, continues to stay true to its objective of creating a strong Chevrolet presence in the nation on top of achieving the maximum business potential for the dealership network.
Also in line with General Motors' view of changing with the times, the company has stepped up efforts to expose itself to key growth markets like China and to exploring the future of automobiles, with a move towards the production of electric cars that are more environmentally sustainable.
Displaying such healthy results at this stage is a good sign for GM in that it has the potential to take off at an even higher pace as the industry recovers from the past few years of slow growth. Affecting all the positive changes is paying off for General Motors, and the good news will keep on coming as market conditions are set to improve all over the world.