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In 1908, 253 car manufacturers were in this industry. By 1929, only 44 out of the 253 manufacturers remained. While some were acquired, many ran out of money and closed their doors. The companies based in Detroit were dominating the automobile industry in America.
These companies were Ford, Chrysler, and GM. They were soon referenced as the Big Three. The Big Three were manufacturing 80% of the total vehicles in the States. We will now discuss the history of these three automobile companies:
Ford Motor Company
The story starts when the founder of Ford, Henry Ford, built a horseless gasoline¬powered carriage in 1896.
In the year 1903, the company manufactured its first car and called it the Model A. A few years later, in 1908, Ford released its second car and named it the Model T.
Henry Ford's company was so successful with the Model T that it created large buildings so it could begin mass production of its new car. Soon, it would revolutionize the automobile industry around the world.
Ford Motor Company then started setting up large production plants, stocked with interchangeable parts, and moving assembly lines. It was able to manufacture a Model T car every 24 seconds.
Ford then introduced key safety features in its mass-produced car in 1956. These key features were a large deep-dish steering wheel, front, and rear seat belts, padded dashboard, doors with child proof locks, and the first retractable hardtop.
Ford came out with the Mustang at the New York World Fair in 1964 and it became such a big hit that it’s still produced as this is written. The 90’s ushered in a new era is the car industry with Sport Utility Vehicles. To make their mark in the SUV market, Ford successfully released a larger and taller vehicle for this market and named it the Explorer.
Currently, the net worth of Ford Motor Company is around $144 Billion.
Ford then introduced key safety features in its mass-produced car in 1956. These key features were a large deep-dish steering wheel, front, and rear seat belts, padded dashboard, doors with child proof locks, and the first retractable hardtop.
Ford came out with the Mustang at the New York World Fair in 1964 and it became such a big hit that it’s still produced as this is written. The 90’s ushered in a new era is the car industry with Sport Utility Vehicles. To make their mark in the SUV market, Ford successfully released a larger and taller vehicle for this market and named it the Explorer.
Currently, the net worth of Ford Motor Company is around $144 Billion.
General Motors (GM)
General Motors was created after a man named, William C. Durant bought 30 other car companies in 1908.
The purchases were made over a two-year period. Two of the major companies that became part of General Motors were Buick and Oldsmobile.
In 1907 Buick began producing a Four-Cylinder car known as Model D. Oldsmobile, the oldest unit of GM, had been founded in 1887. Much of General Motors focus was on improving the quality of its production over the next few decades. The company became known as a producer of state-of-the-art automobiles, which left a solid mark in the American Automobile industry.
Next, General Motors created the General Motors Truck Company which is also known as GMC.
General Motors then partnered up with the Standard Oil Company and formed the Ethyl Gasoline Corporation. With this creation, gasoline became more efficient and cleaner because of its higher octane level.
By 1955, General Motors became the first company in the United States to make more than $1 Billion in a single year. 1953 saw the introduction of their fiberglass-bodied car known as the Corvette. This is a wildly popular sports car that has been produced for nearly 70 years now. The 60’s didn’t slow down as GM introduced a line of hits known as the Impala, Nova, Malibu, and Camaro. Soon these models became some of the most popular automobiles worldwide.
One of the greatest modern achievements of GM, is that they provided the space program with the mobility system for the Lunar Roving Vehicle that landed on the moon. It allowed the astronauts of Apollo 15 to step foot on the moon for the first time in human history.
The net worth of GM as of now is around $140 billion.
By 1955, General Motors became the first company in the United States to make more than $1 Billion in a single year. 1953 saw the introduction of their fiberglass-bodied car known as the Corvette. This is a wildly popular sports car that has been produced for nearly 70 years now. The 60’s didn’t slow down as GM introduced a line of hits known as the Impala, Nova, Malibu, and Camaro. Soon these models became some of the most popular automobiles worldwide.
One of the greatest modern achievements of GM, is that they provided the space program with the mobility system for the Lunar Roving Vehicle that landed on the moon. It allowed the astronauts of Apollo 15 to step foot on the moon for the first time in human history.
The net worth of GM as of now is around $140 billion.
Chrysler Automobile Company
In the mid-1920s, Walter Chrysler began to redesign and help develop Maxwell- Chalmers' automobile organization.
Chrysler was then created and by January 1924, Walter Chrysler had launched the Chrysler 70, which was also called the B-70. This was a 6¬-cylinder car intended to give drivers a reasonably priced but progressive vehicle.
Chrysler, was quickly at the forefront of the industry, giving people cars with features not normally available at the time or too expensive for the average driver. Chrysler designed a special steering wheel that helped drivers stay on the road while encountering potholes and ruts. This steering wheel was soon adopted worldwide by the car business.
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