Chrysler Born: Walter Launches Auto Giant
Walter Chrysler reorganized the failing Maxwell Motor Company into the Chrysler Corporation on June 6, 1925, launching the Chrysler Six, a car that offered features like a high-compression engine and hydraulic brakes previously found only on luxury vehicles, at a price middle-class buyers could afford. Chrysler had been a railroad mechanic who saved $35,000 to buy and disassemble a Locomobile so he could understand how automobiles worked. He took over the ailing Maxwell company, redesigned its products, and created a new brand that outsold every competitor in its price range within its first year. In 1928, Chrysler acquired Dodge Brothers for $170 million and introduced the Plymouth and DeSoto brands, establishing the Big Three of Detroit (GM, Ford, Chrysler) that dominated the auto industry for the rest of the century.
June 6, 1925
101 years ago
Key Figures & Places
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