The General Motors Timeline

GRAND RAPIDS, Mich. (WOOD) -
The General Motors Timeline:

1897 - Olds Motor Vehicle Co. is organized by Ransom Olds in Lansing, Mich., and the first Oldsmobile is assembled.

1899 - Olds Motor Vehicle and Olds Gasoline Engine Works of Lansing merge to form Olds Motor Works. The first factory specifically for automobile production in the U.S. is built by Olds in Detroit on Jefferson Avenue East.

1901 - The Curved Dash Oldsmobile becomes the first American car to be manufactured in quantity. It sells for $650.

1902 - Cadillac Automobile Co., named after the founder of the city of Detroit, is formed in Detroit by Henry M. Leland, a manufacturer of automotive components.

1903 - Plumbing fixture maker David Dunbar Buick forms Buick Motor Co.

1904 - William C. Durant, the grandson of a Michigan governor who served during the Civil War and who became a millionaire in the horse carriage business, takes control of Buick.

Sept. 16, 1908 - Durant forms General Motors Corp. as a holding company by incorporating Buick.

Nov. 1908 - Olds becomes the second car company to join the GM family.

Jan. 1909 - GM acquires a 50 percent stake in Oakland Motor Car Co., now known as Pontiac. Several months later, when Oakland founder Edward Murphy dies, GM takes full control.

July 1909 - Cadillac is acquired by GM for $5.5 million.

1909 - The Rapid Motor Vehicle Co. of Pontiac, Mich., known today as GMC, and Reliance Motor Truck Co. of Owosso, Mich., are purchased by GM.

1909 - GM sells 25,000 cars and trucks.

1910 - Cadillac becomes the first automaker to offer closed bodies as standard equipment, revolutionizing motoring by offering all-weather driving. Durant brings the Buick, Olds, Pontiac, Cadillac, Champion ignition, AC spark plug and other companies into GM. Sales rise 60 percent, but earnings lag.

1910 - In exchange for loans required to avoid financial collapse, bankers step in and William Durant is removed from management at GM.

1911 - Louis Chevrolet, William Little and Edwin Cambell, Durant's son-in-law, form Chevrolet in Detroit to compete with the Ford Model T. General Motors Export Company is formed to handle the sale of all GM products outside the U.S. and Canada.

1911 - Electric self-starter first appears on a Cadillac.

1916 - GM incorporated as General Motors Corp.

1916 - Durant, after founding company that builds Chevrolets, regains control.

1917-19 - GM shifts most truck production to war effort.

1918 - Chevrolet joins the GM family.

1919 - Construction of the GM building in Detroit begins. GM forms GM Acceptance Corp. to finance sale of new vehicles. Because rival Henry Ford was opposed to credit, GMAC would eventually help propel GM past Ford in car sales in the late 1920s as more Americans grew comfortable with car payments.

1920 - Durant resigns, later files personal bankruptcy.

1920s - GM creates product policy aiming Buick, Pontiac, Chevrolet, Oldsmobile and Cadillac at five different groups of buyers.

1921 - GM accounts for 12 percent of U.S. car market.

1921 - Production begins at the Clark Street Cadillac factory in Detroit. It is the most modern assembly plant in the industry at the time and remains open until 1987.

1923 - GM's first European factory opens in Copenhagen, Denmark and Buick introduces 4-wheel brakes.

1923 - Alfred P. Sloan named president and chief executive.

1925 - GM acquires Vauxhall Motors Ltd. of Great Britain.

1926 - The first Pontiac -- the 6-cylinder 'Chief of the Sixes" -- is introduced by Oakland at the New York Auto Show.

1927 - The Cadillac LaSalle, which refined luxury motoring, is introduced. It is the first production car designed by a stylist: Harley Earl.

1928 - Shatter-proof safety glass debuts on all windows of 1929 Cadillac and LaSalle models.

1929 - GM acquires Adam Opel AG of Germany.

1932 - The Pontiac Motor Division is formed, replacing Oakland.

1934 - The industry's first rollover tests are conducted by GM by running one side of a car up a ramp at the top of a hill. GM also conducts the first barrier impact studies when cars are directed into a retaining wall at low speeds.

1935 - The Suburban Carryall -- a half-ton truck with seating for eight -- is introduced by Chevrolet. The Opel Olympia is introduced, becoming the first mass-produced car with all-steel unitized body.

1936 - GM workers in Flint begin historic sit-down strike in December. The strike will end on Feb. 11, 1937, when GM recognizes the United Auto Workers union, marking the beginning of collective bargaining at Detroit automakers.

1939 - Buick introduces the industry's first rear turn signals to use flashers.

1940 - The Nazi German government officially seizes control of Adam Opel AG. GM produces its 25,000,000th car.

1941 - GM market share grows to 41 percent. GM ceases operations in Japan.

1942 - All of GM's manufacturing operations are converted to support war-time purposes.

1945-46 - Workers strike for 113 days.

1947 - GM founder William Durant dies.

1948 - The industry's first V-8 engines are introduced by Cadillac and Oldsmobile. First automobile fins unveiled, on a Cadillac.

1948 - GM and the UAW agree to several historic bargaining milestones: elimination of annual economic negotiations and longer-term contracts; a new wage formula that provides cost of living changes; and an annual improvement factor based on increased efficiency that stems from technology advances.

1949 - After purchase of National City Lines of Los Angeles, GM accused of buying streetcar companies since 1920s and replacing them with bus systems. GM is convicted just once, of conspiracy in the Los Angeles case.

1950 - Chevrolet introduces the Powerglide transmission, becoming the first entry-level brand to offer fully automatic shifting.

1953 - The Chevrolet Corvette, the first production sports car, debuts. It is also the first production car with a plastic body to be produced in quantity.

1953 - Air conditioning first offered, on a Cadillac.

1954 - GM's U.S. market share reaches 54 percent. Company makes 50 millionth car. Cadillac becomes the first automaker to offer power steering and automatic windshield wipers as standard equipment.

1955 - GM introduces Chevrolet V-8 engine.

1956 - Sloan retires as chairman. The GM Technical Center in Warren, Mich., is dedicated.

1958 - Cruise control debuts on 1959 Cadillacs, and the Chevrolet El Camino, combining a big car with a pickup truck, is introduced.

1959 - The Chevrolet Corvair is unveiled.

1960 - Three new small cars are introduced in the U.S.: the Buick Special, Oldsmobile F-85 and the Pontiac Tempest.

1962 - Heaters and defrosters become standard on Cadillac models.

1963 - The Chevrolet Malibu debuts as a 1964 model.

1965 - Ralph Nader's book, "Unsafe at Any Speed," taking a critical look at GM and the Corvair, is published. The Oldsmobile Toronado, the first front-wheel drive car to be built and sold in the U.S. since the 1930s, is unveiled.

1966 - The front-wheel drive Cadillac Eldorado and Chevrolet Camaro debut. Front seat shoulder safety belts are introduced on 1967 models.

1968 - The 50-story GM Building opens on Fifth Avenue in New York City.

1969 - GM manufactures the guidance and navigation systems which guide the Apollo 11 astronauts to man's first landing on the moon and back to Earth. Chevrolet discontinues the Corvair. The Chevrolet Vega is introduced as a 1970 model.

1970 - GM introduces no-lead or low-lead gasoline engines on all 1971 models in the U.S. and Canada.

1971 - GM acquires a 34.2 percent stake in Japan's Isuzu Ltd. GM designs and manufactures the mobility system for the Lunar Roving Vehicle which enables Apollo 15 astronauts to undertake mankind's first vehicular drive on the moon.

1973 - GM produces the first car equipped with an air cushion restraint system as an option. The Arab oil embargo and subsequent rise in gas prices prompts a sudden rise in demand for Japanese-built small cars in the U.S.

1974 - The catalytic converter, first developed in the 1960s, is introduced on all 1975 GM models to reduce tailpipe emissions and comply with federal clean air laws. GM proceeds with plans for an unprecedented downsizing of its U.S. cars in response to soaring energy prices.

1976 - The last American convertible, a Cadillac, is built in April 1976. Convertibles are reintroduced in 1984.

1977 - GM offers the first domestic diesel engine on several 1978 passenger cars -- the Oldsmobile Delta Eighty Eight, Ninety Eight and Custom Cruiser.

1979 - GM's U.S. employment peaks at 618,365, making it the largest private employer in the country. Worldwide employment is 853,000. Decade features sales decline, recession, Arab oil embargo and gains by Japanese automakers.

1980 - Roger B. Smith named chairman. GM loses more than $750 million as car and truck sales plunge 26 percent. With the U.S. in a major recession and industry sales slumping, GM posts its first financial loss since 1920.

1981 - GM consolidates truck, bus and van operations. Auto workers bash Japanese cars with sledge hammers. Company earns $333.4 million on $62.7 billion in revenue.

1983 - GM and Toyota Motor Corp. of Japan form joint venture to build cars at a GM-owned plant in Fremont, Calif. Smith announces Saturn project to fight Japanese cars. GM makes $3.7 billion.

1983 - Buick unveils plans to consolidate its car assembly, metal fabricating and body assembly operations in Flint, Mich., as part of a $200 million project dubbed "Buick City." It was closed in 1999 and demolished in 2002.

1984 - GM overhauls North American organization; acquires Electronic Data Systems Corp., owned by Texas billionaire H. Ross Perot, for $2.5 billion. Earnings rise to $4.5 billion on revenue of $84.9 billion.

1985 - Company forms new Saturn Corp. subsidiary. GM acquires Hughes Aircraft Co. for $5 billion. GM makes $4 billion.

1986 - GM announces plans to close 11 U.S. plants. Employment grows to 877,000 as earnings fall to $3.9 billion. After infighting, Perot resigns from board and gets $700 million in severance.

1986 - GM and Suzuki form a joint venture to produce small cars and sport utility vehicles in Canada. Plans are unveiled to close 11 assembly and stamping plants in the U.S. and Canada.

1987 - GM and UAW reach contract prohibiting closure of a plant unless its product sales fall. Earnings rise to $3.6 billion.

1988 - Earnings rise to $4.6 billion and revenue hits $123.6 billion. Employment drops to 766,000. Chevrolet introduces the Geo line of small vehicles: the Metro, Spectrum and Tracker.

1989 - GM complies with federal regulations and equips about 15 percent of fleet with driver's air bags, blames devices for boosting car prices. Profits fall to $4.2 billion.

1989 - The Pontiac Transport and Oldsmobile Silhouette -- GM's answer to the minivan -- are introduced and feature the largest plastic panels ever used on a vehicle exterior. GM acquires a 50 percent stake in Swedish automaker Saab Automobile AB.

1990 - The Impact, an electric car, debuts to wide acclaim, prompting GM to market the vehicle as soon as possible. The first Saturn model rolls off an assembly line in Spring Hill, Tenn.

1990 - GM and Saab-Scania AB of Sweden form joint venture to make cars in Europe. Smith retires as chairman, succeeded by President Robert Stempel. GM launches Saturn, takes $2.1 billion charge for four plant closings, and profits fall to $102 million as auto sales plummet.

1991 - Company loses industry record $4.45 billion. Stempel announces GM will close 21 plants over the next few years and eliminate 9,000 salaried and 15,000 hourly jobs in 1992, in addition to layoffs at shuttered plants.

1992 - Board strips some of Stempel's authority. Stempel later resigns, saying rumors about his future compromised his ability to lead. Jack Smith gets title of chief executive officer and outside director John Smale is named chairman.

1994 - GM's Hughes Electronics unit introduces DirecTV, the first high-powered broadcast satellite TV provider.

1995 - The EV1 is introduced, making GM the first automaker in modern times to market an electric vehicle to the public.

1996 - GM launches a Web site to provide an overview of its products and services, and announces plans to acquire the Renaissance Center in downtown Detroit for a new world headquarters. EDS is split off from GM.

1997 - GM sells defense electronics business of Hughes Electronics to Raytheon and merges Hughes' auto parts business with Delphi Automotive Systems (now Delphi Corp.).

1998 - Strikes at two Michigan parts plants shut down almost all North American production.

1999 - GM divests Delphi Automotive Systems Corp., its long-time parts unit, in a spin-off to shareholders. GM and Toyota form an unprecedented five-year pact to explore and develop alternative vehicle propulsion technologies. GM acquires rights to the Hummer brand.

2000 - President Rick Wagoner replaces Smith as CEO. GM cuts 10 percent of white-collar employment.

2000 - Despite a complete product overhaul during the 1990s, GM announces plans to phase out Oldsmobile, the oldest automotive brand in the U.S. market. The last Olds, an Alero, will roll off an assembly line in Lansing, where the brand was founded, in 2004.

2000 - GM acquires remaining stake in Saab.

2001 - In response to the Sept. 11 terrorist attacks on New York and Washington, GM launches an unprecedented marketing campaign featuring zero-percent down payments to help the U.S. economy.

2002 - GM spends $251 million on 42 percent stake in South Korea's bankrupt Daewoo Motor and names it GM Daewoo Auto & Technology Co. Stake later increased to 51 percent. GM launches Russian production with a joint-venture partner, AutoVAZ.

2003 - GM sells defense unit to General Dynamics Corp. for $1.1 billion and sells 20 percent stake in Hughes Electronics to News Corp. for $3.1 billion.

2004 - Last model year for Oldsmobile.

2005 - Major credit rating firms downgrade GM and Ford debt to junk -- a first in modern times.

2006 - About 47,600 GM and Delphi hourly workers take buyout or early retirement offers. GM investor Kirk Kerkorian suggests alliance with Nissan and Renault, which GM's board examines and rejects; Kerkorian sells much of his stake. GM sells 51 percent stake in GMAC Financial Services to group led by Cerberus Capital Management LP for $14 billion.

2006 - Saturn launches an ambitious renaissance with the introduction of four key vehicles: the Sky roadster, Outlook crossover, Aura sedan and Vue compact crossover.

2007 - GM loses $38.7 billion, including $39 billion third-quarter charge for unused tax credits. It's the largest annual loss in auto industry history. GM reaches historic contract with United Auto Workers that shifts billions in retiree health care expenses to union-administered trust. Company agrees to pay $33.7 billion into trust. Contract also lets company pay some new hires $14 per hour. U.S. market share is 23.7 percent. GM sells Allison Transmission to The Carlyle Group and Onex Corp. for $5.6 billion.

2007 - After a brief strike, GM and the UAW reach an historic agreement that shifts billions of dollars in hourly retiree health care obligations to the union. The two sides also agree to a new two-tier wage pact that will pay future hires substantially less than current employees.

2008 - Gas prices hit $4 per gallon and truck sales plummet. GM announces plan to close four pickup and sport utility vehicle factories, plans to shed 8,350 jobs. Hummer brand put up for sale. By fall, executives begin asking congressional leaders for aid. GM and Chrysler talk about a merger, but talks die down as both companies' sales continue to fall on U.S. and worldwide recession woes. By December, GM tells Congress it needs $18 billion to stay afloat. It receives $13.4 billion, and racks up a $30.9 billion annual loss and burns through $19.2 billion.

2008 - GM edges out Toyota to remain the world's largest automakers ranked by 2007 sales of 9.37 million units, a title GM has held for more than 77 years. GM marks its 100th anniversary in September.

2009 - The Obama administration takes over the Treasury.

2009 - By February, GM says it will need a total of $30 billion. On March 31, President Barack Obama — a day after firing CEO Rick Wagoner — tells GM it hasn't done enough to restructure and gives the company until June 1 to make aggressive cuts. Chief Operating Officer Fritz Henderson takes over as CEO. Board member Kent Kresa becomes interim chairman.

2009 - March, GM's Saab unit files for bankruptcy in Sweden. GM says it will sell off Saturn and will end the Pontiac line. Under the Treasury Department's orders, GM asks 90 percent of its bondholders to participate in a debt-for-equity swap to rid the company of $24 billion in debt for stock and a combined 10 percent stake in the company.

2009 - By May, GM says it will end contracts with about 1,100 dealers. UAW agrees to job cuts, 14 plant closures, and a 20 percent equity stake in the company to cover retiree health care costs. Bankruptcy appears likely, as GM tries to get all parties to agree to new, leaner terms before June 1. Bondholders reject debt exchange offer, making bankruptcy filing almost inevitable. Government loans now total $19.4 billion.

2009 - June 1, General Motors files for Chapter 11 bankruptcy.

June 25 -- Judge Robert Gerber gives GM final approval to access to its full $33.3 billion in bankruptcy financing.

July 5 -- Gerber approves GM's plan to sell the bulk of its assets to a new, government-owned company. Objectors have four days to file appeals.

July 7 -- Gerber dismisses objections to GM's sale from a group of people with product-related claims and another with asbestos-related claims against the automaker.

July 9 -- A deadline to file objections to GM's sale expires, clearing the way for the company to exit Chapter 11.

Sources: Associated Press archives, Hoover's, General Motors Corp., Camaro5.com