GM almost went under in the 1990s as well, it was a long time coming. The modern GM that survived has only superficial resemblance to the GM of old, which not

GM almost went under in the 1990s as well, it was a long time coming. The modern GM that survived has only superficial resemblance to the GM of old, which not only had 50% domestic auto marketshare, but also built everything from trains to refrigerators to satellites. The company that went bankrupt was the one left holding the "legacy costs" bag.