The "M" in GM was a way for Deere to get around the restriction on raw materials during WWII as companies were restricted in terms of design upgrades. In theory Deere was realeasing a "new model" tractor when in fact they were upgrading an existing tractor.
 
The M stood for military. Like NY 986 said it was a way to get around cost. Deere restyled the G around this time and the tractor cost more to produce. Deere could not charge more money to sell a product they were already making. So came the GM which was a "new product" and Deere could charge more. After the war Deere dropped the M in GM.
 
In this case, the M = Modernized. During the war there was a hold on raising prices. The A,B,& H had been restyled in 38 or 39, but not the G until 42 or 43. With the styled sheet metal, 6 speed trans, optional batt, gen, & starter they could call it a new model & also raise the price.
With the 47 "Late Styled" models they dropped the M designation & just called it the G.
 

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