General Motors was founded in 1908 by William C. Durant, who consolidated various smaller car companies and brands. GM became Ford's main competitor by offering more variety, style, and features than Ford's Model T, and by adopting Ford's assembly line method to reduce costs and increase production. GM also introduced the concept of planned obsolescence, which encouraged consumers to upgrade their cars more frequently.
Chrysler was founded in 1925 by Walter Chrysler, who had previously worked for GM and Buick. Chrysler positioned itself as a mid-range alternative between Ford's low-cost mass production and GM's high-end luxury. Chrysler also innovated in engineering, design, and marketing, introducing features such as hydraulic brakes, aerodynamic styling, and the Chrysler Building in New York.
Alfred P. Sloan was an American business executive and philanthropist who became the president and CEO of GM in 1923. Sloan is widely regarded as one of the most influential figures in the history of the automobile industry, as he implemented a decentralized organizational structure, a divisional brand strategy, and a consumer-oriented marketing approach that enabled GM to surpass Ford in sales and profitability. Sloan also supported research and development, public relations, and social responsibility initiatives for GM and the industry as a whole.
Ransom E. Olds was an American inventor and entrepreneur who founded the Olds Motor Vehicle Company in 1897, which later became Oldsmobile. Olds is credited with being the first to mass-produce cars using an assembly line, predating Ford by several years. Olds also pioneered the use of interchangeable parts, standardized designs, and large-scale advertising for his cars. Olds left his company in 1904 after a dispute with his financial backers, and founded the REO Motor Car Company, which produced cars and trucks until 1975.
Louis Chevrolet was a Swiss-born racing driver and engineer who co-founded the Chevrolet Motor Car Company in 1911 with William C. Durant, who had been ousted from GM. Chevrolet's aim was to produce high-performance and stylish cars that could compete with Ford's Model T. However, Chevrolet and Durant had different visions for the company, and Chevrolet sold his stake to Durant in 1915. Durant used Chevrolet's name and reputation to regain control of GM in 1916, and Chevrolet became one of GM's most popular brands. Chevrolet later founded the Frontenac Motor Corporation, which specialized in racing cars and parts.