Ford, GM Move up in Fortune 500 Rankings

Ford, GM Move up in Fortune 500 Rankings

Every year the Fortune 500 rankings are announced, and it’s usually no surprise to see the big three on the list. This year, however, you’ll find only two of the domestic automakers, though both have moved up the list.

Coming in at number 5 on this year’s Fortune 500 list is General Motors. Following a successful 2010 ranking where the company was placed 8th, GM’s 2011 revenue increased 11 percent 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. It also helps when you grab the global sales leader title away from Toyota.

Ford moved up one Fortune 500 ranking to the number 9 position this year, thanks to a huge 208 percent jump in profits. Jumps like that are more in line with Tech, and Oil companies rather than automakers, so its no wonder to see Ford move up in the Fortune 500.

Its interesting to note that Chrysler did not appear on the Fortune 500 this year because they are now controlled by Fiat, and no longer considered a U.S. Company by Fortune magazine.

[Source: Automotive News]