Does GM Still Own Chevy?
General Motors (GM) is one of the most familiar American car brands. GM began its journey to being one of the leading automobile manufacturers on earth. But what is GM’s relationship with Chevrolet? Does GM still own Chevy?
The automotive industry is constantly changing. Brands are bought and sold. The financial climate frequently fluctuates. So what brands does GM own today? Is Chevrolet still a part of the General Motors group?
Models like the iconic Chevrolet Silverado, Chevrolet Corvette, and Chevy Suburban are all part of the reason that GM has seen such massive success in the global auto industry. Let’s go through the story of the joint relationship between these two brands. Here are some history and background information to help us make sense of where the Chevy brand fits into the grand scheme of things.
Who owns Chevrolet?
According to Investopedia, Chevrolet is the largest brand that exists in ownership beneath GM’s corporate umbrella. Consumer Reports confirms GM’s Chevy ownership as well. But when did the GM conglomerate acquire the legendary Chevy brand?
According to History, GM bought Chevy on May 2, 1918. Since then, the American car brand soared to the top of the charts and currently maintains the honor of “the world’s largest auto firm.” From the Chevrolet Corvette to the family-sized Chevy Suburban to the iconic Chevrolet Silverado, the Chevy brand has made history and a name for itself.
The best models have brought customers back again and again to another Chevy. Maybe you are moving up from a Chevrolet Corvette into a Chevy Suburban for its family-friendly appeal. Or maybe you are looking into the Chevrolet Silverado for its towing strength and payload capacity for big jobs. Either way, there is probably a Chevy model that fits your needs.
Does GM own Chevy and GMC?
We recently looked into GM’s ownership of GMC. In fact, you can read more about GMC below. GMC is actually GM’s truck brand. It stands for General Motors Truck Company. But what about Chevy? Yes, since that fateful day in May back in 2018 Chevy hangs its hat in the same corporate lounge as GM and its truck brand GMC.
That means that modern Chevrolet trucks share underpinnings with GMC trucks. For example, the 2021 GMC Sierra 1500 shares a platform with the 2021 Chevrolet Silverado 1500. SUVs like the GMC Yukon and the Chevy Suburban follow this model as well.
Where did the name come from?
Where did the name Chevrolet come from? Well, there was once a Swiss race-car driver named Louis Chevrolet. William C. “Billy” Durant had a hand in the founding and initial expansion of General Motors.
He ended up splitting from GM and founding a new company which he named after his partner––Louis Chevrolet. The two founded the Chevrolet brand together in 1911. Ultimately, the brand’s namesake went his own way and Chevy soon came to be owned by GM.
Today, GM does still own Chevy. Chevrolet has seen success with many models and continues to remain a valuable GM asset. We don’t foresee this longterm relationship splitting up any time soon.