General Motors was founded in 1908 and is headquartered in Detroit, Michigan. It is the world's second largest automaker behind Toyota, selling vehicles in 31 countries with its largest markets being China and the United States. GM owns brands such as Buick, GMC, Cadillac, and Chevrolet. In 2010, GM emerged from bankruptcy after receiving a government bailout, shedding brands and closing plants. It has since repaid its loans ahead of schedule and plans an IPO to further repay bailout funds.