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      Ford, General Motors and Chrysler: The Detroit Three

      CarTrade Editorial Team

      CarTrade Editorial Team

      The foundation of a great company is laid on some basic fundamentals, such as vision, strong business acumen, a genuine hunger to achieve and sustenance. Only a few firms in history have earned the coveted right to be called great. Talking about the automobile industry, there are some countries, like Germany, Italy, Japan and United States of America, which are the home of the best in business. However, surprisingly, there is one place that boasts of something, possibly, that no other region does. Detroit, located in Michigan, USA, is home to the 'Big Three' of the automobile market, namely Ford, Chrysler and General Motors. It is incredible how these three brands are based in the same region, something that is quite unique and impressive. It can be rightly said that these firms are the flag bearers of the automobile industry of United States of America. There is a lot of history attached to all these brands, which have become a part of the global folklore.

      Ford, General Motors and Chrysler: The Detroit Three
      Ford, General Motors and Chrysler: The Detroit Three
       

      Ford is considered to be a benchmark setter for other firms in the world due to its sheer longevity, expertise and progress in manufacturing cars. Not many people know that the history of this firm dates back to late 19th century, when Henry Ford, the legend, was involved in establishment of Detroit Automobile Company, which took place in 1899. However, things did not go as well for Henry Ford and it was reorganised as Henry Ford Company in 1901. Tasting failure again, the American decided to part ways with the firm and took away right to his name. Not willing to wait, Henry Ford collaborated with Alexander Malcomson, a coal dealer, in order to create another company. Together, Ford and Malcomson conceptualised a car and started placing order for components. Not realising that they have exceeded the budget, the two ran into a crisis, wherein they needed external financial help. After a lot of convincing and attracting investors, Malcomson and Ford were successful in incorporating Ford Motor Company in 1903 with around 12 investors, who owned a total of 1000 shares approximately. Since then, the graph of this American giant has been upward sloping and it has become one of the best. A pioneer in automobile technology, Ford has manufactured and sold some iconic models, which includes Model T, F-150, Shelby GT500, Ranger and Fusion.

      Ford, General Motors and Chrysler: The Detroit Three
      Ford, General Motors and Chrysler: The Detroit Three
       

      Be it in terms of revenue, employment generation or facilitating the progress of car manufacturing, General Motors is a globally recognised name. Like Ford, the history of this firm also dates back over a hundred years, something that itself speaks volumes about the American brand. Following a contract with McLaughlin's from Canada, William C Durant found General Motors in the year 1908. The key aspect to the expansion of this Michigan-based firm was the acquisition of a number of automobile companies. After, initially, acquiring Buick, General Motors went on to take control of an incredible 20 firms, which includes the likes of Oldsmobile, Cadillac and Pontiac (then known as Oakland). Chopping and changing happened several times as Durant collaborated with many stalwarts including the legendary Louis Chevrolet. For a long time now, Ford and General Motors have competed for the top spot in United States. In fact, General Motors has given stiff competition to firms like Volkswagen and Toyota. Today, many brands come under this company, such as Buick, Cadillac, Opel, Chevrolet, Vauxhall and GMC.

      Last but not the least, Chrysler was founded by Walter Chrysler in 1925, a year that saw the reorganisation of Maxwell Motor Company into Chrysler Corporation. After its establishment, the firm started selling vehicles that were segmented on the basis of price and class. This company ran into severe bad luck as it filed bankruptcy reorganisation in 2011. Today, Fiat, the Italian giant, is a major shareholder in this firm. Chrysler is known for its diverse product line, which includes the likes of Dodge, Jeep, Ram and Mopar.