This Week in Petroleum History: April 21 – 27
April 21, 1967 – GM celebrates its 100 Millionth Car –
General Motors celebrated its 100 millionth American-made car (a two-door Chevrolet Caprice). Founded in 1908 by William Durant, the Flint, Michigan, company began as a manufacturer of horse-drawn carriages. After leaving GM, Durant and partner Louis Chevrolet founded the Chevrolet Motor Company in 1911, which became part of GM five years later.
After World War II, GM was the first American corporation to pay more than $1 billion in taxes, according to the Detroit Historical Society, which also notes the company declared bankruptcy in 2009 and emerged less than 40 days later after a federal bailout that saved more than a million jobs. (more…)
