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GRAND PRIX INTERNATIONAL CO., LTD. |
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USA NEWS: |
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GM, Ford move up in Fortune 500 rankings
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Fortune, global business magazine announced an¬nual list of the 500 largest U.S. companies and this year more than 23 auto-related compa¬nies made the list.
Two Detroit 3 automakers are among the top 10 in Fortune rankings, General Motors ranked No. 5, up from No. 8 last year, while Ford Motor Co. ranked No. 9, up from No. 10 in 2011, however Chrysler Group did not appear on the list because it is controlled by Fiat S.p.A. of Italy.
Fortune stated that 2011 revenue at GM increased 11 percent from 2010 to $150.3 billion, a major factor for this is the high sales and lower costs of GM’s products, like the Cruze and Sonic compact and subcompacts.
The magazine echoed other national praise for Ford’s turn¬around and credited CEO Alan Mulally after Detroit automaker revenue increased 6 percent from 2010 to $136.3 billion. The full list of companies, topped by petroleum giant Exxon-Mobil can be found on Fortune’s web site.
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June 2012
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