Cadillac
Cadillac is among the first automobile brands in the world, second in the United States only to fellow GM marque Buick. The firm was founded from the remnants of the Henry Ford Company in 1902. It was named after Antoine de la Mothe Cadillac, who founded Detroit, Michigan. The Cadillac crest is based on his coat of arms.
Automotive industry in the United States
General Motors Corporation (GM), the company that would soon become the world's largest automaker, was founded in 1908 by William Durant. Durant had previously been a carriage maker, and had taken control of Buick in 1904. The company initially acquired Buick, Oldsmobile and Oakland (later to become Pontiac) in 1908. The next year GM acquired Cadillac, along with a number of other car companies and parts suppliers. Durant also was interested in acquiring Ford, but after initial merger talks, Henry Ford decided to keep his company independent. In 1910, Durant lost control of GM after over-extending the company with its acquisitions. A group of banks took over control of GM and ousted Durant. Durant and Louis Chevrolet founded Chevrolet in 1913 and it quickly became very successful. Durant began acquiring stock in GM and by 1915 had majority control. Chevrolet was acquired by GM in 1917 and Durant was back in charge of GM. In 1921, Durant was again forced out of the company. During the late 1920s, General Motors overtook Ford to become the largest automaker. Under the leadership of Alfred P. Sloan, General Motors instituted decentralized management and separate divisions for each price class. They also introduced annual model changes. GM also became an innovator in technology under the leadership of Charles F. Kettering. GM followed Ford by expanding overseas, including purchasing England's Vauxhall Motors in 1925, Germany's Opel in 1929, and Australia's Holden in 1931. GM also established GMAC (now Ally Financial) in 1919 to provide credit for buyers of its cars.