Historical Timeline
Major Events for GM, Ford, Chrysler, Toyota, and Honda from 1970-2009
|
GM |
Ford |
Chrysler |
Toyota |
Honda |
| July 2009 |
July 10- GM emerges from a 40-day bankruptcy protection after closing a deal to sell key operations to a new company that is 60% owned by the US Treasury.
"GM Exits Bankruptcy," Reuters, July 10, 2009 |
|
|
|
|
| June 2009 |
June 1- GM files for bankruptcy, declaring that it had $172 billion in debt. GM's bankruptcy is the second largest industrial bankruptcy in history behind WorldCom's 2002 filing.
"GM Collapses into Government's Arms," Wall Street Journal, June 2, 2009 |
|
June 10- As part of bankruptcy restructuring, an alliance forms between Chrysler and Fiat. The deal established a new company, Chrysler Group LLC, which is 55% owned by the United Auto Workers (UAW), 20%-35% owned by Fiat, and 8% and 2% owned by the US and Canadian governments respectively.
"Chrysler and Fiat Make it Official," money.cnn.com, June 10, 2009 |
|
|
| Apr. 2009 |
|
|
Apr. 30- Chrysler files for federal bankruptcy protection with a plan to allow the United Auto Workers (UAW) to take control. Automaker Fiat and the US would be junior partners.
"Chrysler Files to Seek Bankruptcy Protection," New York Times, Apr. 30, 2009 |
|
|
| Mar. 2009 |
Mar. 30- Rick Wagoner announces that he will honor the Obama Administration's request to "step aside" as the CEO of GM
"GM Message from Rick Wagoner," media.gm.com, Mar. 30, 2009
Mar. 30- The Obama Administration releases its determination
that GM has not met viability conditions laid out in the Dec. 31, 2008 loan agreement.
"GM Viability Assessment," www.whitehouse.gov, Mar. 30, 2009
Mar. 12- GM rejects the $2 million in government money it had previously requested for Mar. 2009, claiming its financial situation is not as dire as predicted.
"GM: Keep Your $2 Billion, Uncle Sam," CFO.com, Mar. 12, 2009 |
Mar. 4- Ford announces it hopes to eliminate $10 billion in debt by giving cash and stock to debt holders.
"Ford Seeks to Eliminate $10.4 Billion of Its Debt," New York Times, Mar. 5, 2009 |
Mar. 30- The Obama Administration releases its determination that GM has not met viability conditions laid out in the Dec. 31, 2008 loan agreement.
"Chrysler Viability Assessment," www.whitehouse.gov, Mar. 30, 2009
Mar. 11- Chrysler announces it will leave Canada, where it has 9,000 employees, unless the Canadian government provides $2 billion in loans and the Canadian union agrees to cut 25% of its labor costs.
"Chrysler Threatens to Pull Out of Canada," Globe and Mail, Mar. 12, 2009 |
Mar. 3- Toyota applies for a $2 billion loan from the Japanese government's Japan Bank for International Cooperation (JBIC) to help Toyota's US finance unit, Toyota Motor Credit Corp.
"Toyota Seeks Government Loan," money.cnn.com, Mar. 3, 2009 |
|
| Feb. 2009 |
Feb. 17- GM submits its 2009-2014 Restructuring Plan to the US Treasury Department.
"GM Presents U.S. Government Updated Plan for a Viable, Sustainable Company," media.gm.com, Feb. 17, 2009
Feb. 17- GM announces it will phase out its Saturn brand by 2012 and is "considering its options" for its Pontiac division.
"GM Phasing Out the Saturn Brand," International Herald Tribune, Feb. 18, 2009 |
Feb. 27- Ford announces it will not seek emergency funding from the US government.
"Ford Meets with U.S. Task Force," Washington Post, Feb. 28, 2009
Feb. 18- Ford reaches a deal with the United Auto Workers (UAW) to reduce labor costs in line with Japanese automakers.
"Ford and UAW Reach Deal to Trim Labour Costs," uk.reuters.com, Feb. 18, 2009 |
Feb. 17- Chrysler submits its Restructuring Plan for Long-Term Viability to the US Treasury Department.
"Chrysler LLC Viability Plan Submitted Today to the U.S. Treasury Department," www.chryslerllc.com, Feb. 17, 2009 |
Feb.- Toyota cuts its production in Japan by 54% in the first 2009 quarter as demand falls.
"Toyota Will Cut Japan Output 54% in Current Quarter," Bloomberg Press website, Feb. 16, 2009 |
|
| Jan. 2009 |
|
|
Jan. 20- Italian automaker Fiat takes a 35% stake in Chrysler.
"Fiat Group, Chrysler LLC and Cerberus Capital Management L.P. Announce Plans for a Global Strategic Alliance," PRNewswire website, Jan. 20, 2009 |
Jan. 21- Akio Toyoda, grandson of Toyota's founder Kiichiro Toyoda, takes over as CEO from Katsuaki Watanabe.
"Toyota Management Heads Toward a Shakeup," Wall Street Journal, Jan. 21, 2009
|
Jan.- American Honda reports a 30% drop in vehicle sales from Jan. 2008.
"Honda Motor Reports Steep Drop in January Sales," www.mfrtech.com, Feb. 4, 2009 |
|
GM |
Ford |
Chrysler |
Toyota |
Honda |
| Dec. 2008 |
Dec. 19- President Bush announces a $13.4 billion emergency bailout for GM and Chrysler to be paid by mid-January 2009.
"Bush Aids Detroit, but Hard Choices Wait for Obama," New York Times, Dec. 19, 2008
Dec. 4- GM Chairman Rick Wagoner testifies to the US Senate about GM's future business plans.
"Hearing Detail," US Senate Committee on Banking,Housing, and Urban Affairs website, Dec. 4, 2008
Dec. 2- GM submits its "Restructuring Plan for Long-Term Viability" to the US Congress.
"GM Submits Plan for Long-Term Viability to the U.S. Cogress," media.gm.com, Dec. 2, 2008 |
Dec. 4- Ford President Alan Mulally testifies to the US Senate about Ford's future business plans.
"Hearing Detail," US Senate Committee on Banking,Housing, and Urban Affairs website, Dec. 4, 2008
Dec. 2- Ford submits its "Ford Motor Company Business Plan" to the US Congress.
"Ford Motor Company Submits Business Plan to Congress," media.ford.com, Dec. 2, 2008
Dec.- Billionaire investor Kirk Kerkorian, who had a total of 141 million shares or a 7% stake in June 2008, sells all his remaining Ford shares
"Kerkorian Sells Rest of Ford Shares," Los Angeles Times, Dec. 30, 2008 |
Dec. 19- President Bush announces a $13.4 billion emergency bailout for GM and Chrysler to be paid by mid-January 2009.
"Bush Aids Detroit, but Hard Choices Wait for Obama," New York Times, Dec. 19, 2008
Dec. 9- Chrysler and Chinese automaker Chery end their partnership to make Chinese-built Dodges for sale in the US and Europe.
"Chrysler, China's Chery Call Off Cooperation," China Daily, Dec. 9, 2008
Dec. 4- Chrysler CEO Robert Nardelli testifies to the US Senate about Chrysler's future business plans.
"Hearing Detail," US Senate Committee on Banking,Housing, and Urban Affairs website, Dec. 4, 2008
Dec. 2- "Chrysler's Plan for Short-Term and Long-Term Viability" is submitted to the US Congress.
"Plan for Future Success," www.chryslerllc.
com, Dec. 3, 2008 |
Dec. 22- Toyota warns of an operating loss of $1.6 billion for the 2008 fiscal year, reversing its forecast of a $6.6 billion profit.
"Toyota Warns of First Ever Operating Loss," Financial Times, Jan. 22, 2009
2008- Toyota surpasses GM as the world's largest automaker.
"Toyota Ahead of GM in 2008 Sales," International
Herald Tribune, Jan. 21, 2009 |
Dec. 5- Takeo Fukui, Honda CEO, announces Honda will withdraw from Formula 1 racing citing the economic downturn.
"Statement by Takeo Fukui, President and CEO, Honda Motor Co., Ltd.," Honda World website, Dec. 5, 2008 |
| Nov. 2008 |
Nov. 20- GMAC (General Motors Acceptance Corp.), GM's financial arm, applies to the Federal Reserve to become a bank holding company.
"GMAC Files Application with Federal Reserve to Become Bank Holding Company," media.gm.com, Nov. 20, 2008
Nov. 19- Chairman Rick Wagoner testifies to the US House to request a bailout "bridge" loan.
"Stabilizing the Financial Condition of the American Automobile Industry," US House Committee on Financial Services website, Nov. 19, 2008
Nov. 18- Chairman Rick Wagoner testifies to the US Senate to request a bailout "bridge" loan.
"Examining the State of the Domestic Automobile Industry," US Senate Committee on Banking, Housing, & Urban Affairs website, Nov. 18, 2008
Nov. 17- GM sells a 3% stake in Suzuki Motor Corp. for $230 million.
"GM Sells Equity Stake in Suzuki Motor Corp.," media.gm.com, Nov. 17, 2008 |
Nov. 19- President Alan Mulally testifies to the US House to request a bailout "bridge" loan.
"Stabilizing the Financial Condition of the American Automobile Industry," US House Committee on Financial Services website, Nov. 19, 2008
Nov. 18-President Alan Mulally testifies to the US Senate to request a bailout "bridge" loan.
"Examining the State of the Domestic Automobile Industry," US Senate Committee on Banking, Housing, & Urban Affairs website, Nov. 18, 2008
Nov. 18- Ford ends 12 years of control of Mazda by selling a 20% stake.
"Ford to Relinquish Control of Mazda Through Stake Sale," International Harold Tribune, Nov. 18, 2008 |
Nov. 19- Chairman Robert Nardelli testifies to the US House to request a bailout "bridge" loan.
"Stabilizing the Financial Condition of the American Automobile Industry," US House Committee on Financial Services website, Nov. 19, 2008
Nov. 18- Chairman Robert Nardelli testifies to the US Senate to request a bailout "bridge" loan.
"Examining the State of the Domestic Automobile Industry," US Senate Committee on Banking, Housing, & Urban Affairs website, Nov. 18, 2008 |
Dec. 2- Toyota announces Nov. sales fall 34% from Nov. 2007; year-to- date sales down 14%.
"Toyota Reports November Sales," Toyota website, Dec. 2, 2008
Nov. 25- Toyota currency and debt ratings are downgraded from AA to AAA by Fitch ratings.
"Foot-to-the-floor Toyota Now Suddenly Has to Downshift," Japan Times, Dec. 31, 2008 |
|
| Oct. 2008 |
Oct. 24- GM begins talks with Cerberus, Chrysler's owner, about a possible merger.
"Cerberus Looks for 'Fresh Air' at GM," Wall Street Journal, Oct. 24, 2008 |
|
Oct. 25- Chrysler announces plan to slash 25%, or 5,000 people, from its salaried work force.
"Chrysler Slashing 5,000 Jobs as Sale Talk Goes On," Los Angeles Times, Oct. 25, 2008 |
|
|
| Sep. 2008 |
Sep. 22- GM opts against 2009 Super Bowl advertising in the midst of cost cutting.
"GM Opts Against Super Bowl Ad Amid Cost Cutting," USA Today, Sep. 22, 2008 |
|
Sep. 24- Daimler confirms talks to sell its remaining 20% stake in Chrysler to Cerberus, which owns 80%.
"Key Dates in Chrysler's Recent History," San Francisco Chronicle, Oct. 11, 2008 |
|
|
| Aug. 2008 |
Aug. 18- GM announces end of sponsorship for Academy and Emmy Awards, citing the economic downturn.
"General Motors to End Sponsorships of Academy Awards, Emmys," Los Angeles Times, Aug. 19, 2008
Aug.- GM's overall US monthly sales down 20%.
"Sales Decline 20%, But G.M. Sees a Bright Spot," New York Times, Sep. 3, 2008 |
Aug.- Ford's overall US monthly sales fall 26%.
"Soundbites; August 2008 Sales," www.ford.com (accessed Mar. 18, 2009)
Aug.- Ford loses third place in global sales to Volkswagen.
"Volkswagen Tops Ford in Gobal Sales for First Half of 2008," jalopnik.com, Aug. 28, 2008 |
Aug. - Chrysler's total Aug. 2008 sales are down 34% from Aug. 2007 sales.
"Chrysler LLC Reports August 2008 U.S. Sales," www.reuters.com, Sep. 3, 2008 |
Aug.- Toyota's US monthly sales drop less than 10%.
"Sales Decline 20%, But G.M. Sees a Bright Spot," New York Times, Sep. 3, 2008 |
Aug.- Honda's US monthly sales fall less than 10%.
"Sales Decline 20%, But G.M. Sees a Bright Spot," New York Times, Sep. 3, 2008 |
| July 2008 |
July 21- GM ranks 9th place in Fortune's Global 500.
"Global 500," money.cnn.com, July 21, 2008
July 21- GM collaborates with Electric Power Research Inst. (EPRI) to commercialize plug-in vehicles.
"GM Launches Major Collaboration with EPRI and 30 Utility Companies to Ready the Grid for the Volt," gm-volt.com, July 21, 2008 |
July 24- Ford posts an $8.7 billion quarterly loss and announces a reduction in truck and SUV production.
"Ford Loses $8.7 Billion" www.cnbc.com, July 24, 2008
July 21- Ford ranks 13th place in Fortune's Global 500.
"Global 500," money.cnn.com, July 21, 2008 |
July 25- Chrysler's financial arm stops offering vehicle leases to US consumers in response to tighter credit and plunging sales.
"Chrysler Financial Arm to Stop Leasing Vehicles," www.reuters.com, July 25, 2008
July 21- Chrysler does not rank in Fortune's Global 500.
"Global 500," money.cnn.com, July 21, 2008 |
July 21- Toyota ranks 5th place in Fortune's Global 500.
"Global 500," money.cnn.com, July 21, 2008 |
July 21- Honda ranks 40th place in Fortune's Global 500.
"Global 500," money.cnn.com, July 21, 2008 |
| June 2008 |
June 19- GM joins with Carnegie Mellon Univ. to create the Collaborative Research Lab to develop driverless vehicles.
"General Motors, Carnegie Mellon Commit to Develop Driverless Vehicles," media.gm.com, June 19, 2008 |
June 20- Ford adds more small cars and crossovers as demand for trucks slows.
"Ford Further Cuts Truck Production as Demand Slows," www.ford.com, June 20, 2008
June- Billionaire investor Kirk Kerkorian raises his Ford stake another 20 million shares and increases his stake in Ford from 6% to 7%; he has spent about $1 billion since Apr. 2008.
"Kerkorian Acquires More Shares of Ford," New York Times, June 20,, 2008 |
June 24- Chrysler draws on a $2 billion credit line from parent company Cerberus.
"Chrysler Taps a $2 Billion Credit Line," New York Times, June 25, 2008 |
June 27- Subaru-parent Fuji Heavy Ind. (FHI) announces plans to sell 17% more shares to Toyota, its top shareholder, for $293 million.
"Toyota Raises Stake in Subaru's Parent," USA Today, June 27, 2009 |
|
| Apr. 2008 |
|
|
Apr. 14- Chrysler and Nissan enter into a manufacturing
partnership to build cars for each other.
"Chrysler, Nissan Announce Partnership," USA Today, Apr. 15, 2008 |
|
|
| Mar. 2008 |
Mar. 3- Ford names Fritz Henderson President, the first man to hold the title in almost five years.
"Highlights of GM's 100-year History," www.freep.com, Sep. 14, 2008 |
Mar. 26- Ford sells Land Rover and money-losing Jaguar to India's Tata Motors for $2.3 billion, almost half of what Ford paid for the two brands.
"Tata to Buy Ford Brands for $2.3 Billion," www.reuters.com, Mar. 26, 2008 |
Mar.- Chrysler reaches new monthly and quarterly record for sales outside North America with a 7% increase in Mar. sales from 2007 to 2008.
"Chrysler LLC Sets New Quarterly and Monthly Records for Sales Outside North America," www.reuters.com, Apr. 8, 2008 |
|
|
| Feb. 2008 |
Feb. 12- GM reports a 2007 fourth quarter loss of $722 million and a loss of $38.7 billion for all of 2007, the biggest ever for an automaker.
"GM Offers More Buyouts After $722 Million Loss," www.iht.com, Feb. 12, 2008
Feb. 12- GM offers buyouts or early retirement to all 74,000 US hourly workers in order to hire lower-cost replacements.
"GM Offers Buyouts, to 74,000," money.cnn.com, Feb. 12, 2008 |
|
Feb. 8- Chrysler announces plans to drop redundant vehicles and to merge dealers into three-brand, Chrysler-Dodge-Jeep stores.
"Chrysler Dealers Urged to Merge," Automotive News, Feb. 9, 2008 |
|
|
| Jan. 2008 |
Jan. 23- 59% of all GM vehicles are purchased outside of the US.
"GM, Toyota Neck and Neck in Global Sales," abcnews.go.com, Jan. 23, 2008
Jan. 7- GM releases its first voluntary disclosure of corporate contributions to politicians.
"GM Discloses Political Contributions," media.gm.com, Jan. 7, 2008 |
|
Jan. 11- Chrysler and Nissan reach an agreement to have Nissan build small cars for Chrysler to sell in South America.
"Chrysler and Nissan in Production Deal," New York Times, Jan. 12, 2008
Jan. 7- Chrysler announces 2007 as its best year ever in sales outside of the US with a 15% increase in year-to-date sales.
"Chrysler LLC Announces 2007 Global Sales," www.reuters.com, Jan. 7, 2008 |
|
Jan. 28- American Honda announces record annual, worldwide sales results, 2007 sales up 3% from 2006.
"Honda Breaks Global Sales and Production Records in 2007," Honda World website, Jan. 28, 2008 |
|
GM |
Ford |
Chrysler |
Toyota |
Honda |
| 2007 |
Sep. 26- After a 2-day, 73,000 worker national strike, GM signs a contract with UAW shifting over $50 billion in potential healthcare liability to a union-administered trust.
"GM and UAW Settle Strike," www.reuters.com, Sep. 26, 2007 |
Mar. 12- Ford sells Aston Martin for $848 million to David Richards, a British racing champion.
"Ford Sells Aston Martin for $848 Million," International Herald Tribune, Mar. 13, 2007
Jan. 25- Ford reports a $12.7 billion loss in 2006, the worst in its 103 year history.
"Ford Posts Deepest Loss in its 103-year History," MSNBC website, Jan. 25, 2007
|
Nov. 1- Chrysler announces 13,000 job cuts, bringing the 2007 total work force reduction to 30%.
"Job Cuts at Chrysler Go Even Deeper Than Expected," New York Times, Nov. 2, 2007
Aug. 3- Robert Nardelli , former Home Depot CEO, joins Chrysler as Chairman and CEO.
"Robert Nardelli Named CEO of Chrysler," Fortune, Aug. 6, 2007
May 14- After buying Chrysler for $37 billion in 1998, Daimler ends merger with Chrysler at a loss, selling an 80% stake to Cerberus Capital Managment for $7.4 billion.
"Daimler Pays to Dump Chrysler," money.cnn.com, May 14, 2007
July 4- Chrysler partners with Chinese automaker Chery to make Chinese-built Dodges for sale in the US and Europe.
"Chrysler Partners with Chery Automobile of China," www.carseek.com, July 5, 2007 |
Nov. 5- Toyota launches its "Why Not?" Innovation Experience ad campaign, that focuses on environmental commitment, economic impact, and social responsibility; it's the biggest corporate campaign in its history.
"Touched by Toyota" Advertising Age, Nov. 5, 2007
Nov.- Toyota experiences its best Nov. in terms of sales volume ever.
"Toyota Reports November Sales," www.prnewswire.com, Dec. 3, 2007
Oct. 31- Toyota celebrates its 50 year anniversary marketing autos in the US.
"Toyota Celebrates Golden Anniversary in United States," Toyota website, Oct. 31, 2001
Apr.- Toyota's global sales exceed GM's, making it the world's largest automaker.
"Toyota 'World's Largest Carmaker'," news.bbc.co.uk, Apr.. 24, 2007 |
2007- Honda loses its 5th place in global sales to Korean auto maker Hyundai-Kia.
"Hyundai-Kia Pass Honda in Global Sales in 2007," Edmunds Inside Line website, Nov. 2, 2007 |
| 2006 |
Oct. 4- Talks between GM and Renault-Nissan of a possible partnership end after GM's demad to be paid to join the alliance is rejected.
"Payment to GM Tanks Talks with Renault-Nissan," money.cnn.com, Oct. 5, 2006
June 27- About 35,000 GM hourly workers take advantage of early retirement or buyout offers.
"47,600 Accept GM, Delphi Buyouts," Honolulu Advertiser, June 27, 2006
Apr. 3- GM announces it will sell a 51% stake in GMAC, its financing arm, for $14 billion.
"GM to Sell GMAC Stake for $14B," www.foxnews.com, Apr. 3, 2006 |
Sep. 15- Ford cuts 10,000 salaried jobs and offers buyouts to all 75,000 US hourly workers; 16 plants are slated to close by 2012.
"Ford Cuts 10,000 More Salaried Jobs, Shuts Down 2 Plants," Deseret News, Sep. 15, 2006
Sep. 5- Ford names Alan Mulally, a Boeing executive, to be CEO, replacing Bill Ford Jr. after a "tumultuous" five year reign.
"Ford Steps Aside as CEO; Boeing Exec Takes Reins," Detroit News, Sep. 6, 2006 |
Jan. 1- Tom LaSorda, former executive of GM, replaces Dieter Zetsche as CEO of Chrysler Group; Zetsche returns to Germany to replace Juergen Schrempp as CEO of Daimler-Chrysler.
"Straight Talk from the New Boss at Chrysler," Edmunds Inside Line website, Sep. 29, 2005
2006- Chrysler's international sales grow 15% spurred by Dodge brand expansion in Europe.
"Chrysler Global Sales Rise in 2006," Automotive News Europe, Feb. 5, 2007 |
Nov. 7- Toyota announces it will take a minority stake in Isuzu Motors at 6%, making Toyota the third-largest shareholder in Isuzu after Mitsubishi and Itochu.
"Toyota to Tie Up With Isuzu, Take 6%" Japan Times, Nov. 8, 2006 |
|
| 2005 |
Oct. 5 - GM sells its 20% share held in Subaru-parent Fuji Heavy Ind. (FHI), 9% to Toyota, and the remaining 11% to the market.
"Fuji Heavy Industries Dissolves Alliance with General Motors, Entering a New Business Collaboration with Toyota," www.fhi.co.jp, Oct. 5, 2005
Jan. 13 - GM sells Electro-Motive Division, its locomotive division.
"GM to Unload Train Division," Detroit News, Jan. 13, 2005 |
Sep. 12- Ford sells Hertz rental car for $5.6 billion to a private equity group.
"Ford Sells Hertz for $5.6 Billion," USA Today, Sep. 12, 2005
May 25- Ford helps its struggling former parts division, Visteon, by reclaiming 24 Vistoen plants and offices
"Much of Visteon Comes Spinning Back to Ford," New York Times, May 26, 2005 |
Apr. 7- A federal judge rules against billionaire Kirk Kerkorian in a lawsuit against DaimlerChrysler; Kerkorian's company, Tracinida Corp. claimed that the 1998 merger between DaimlerBenz and Chrysler was not the "merger of equals" that DaimlerBenz had initially depicted.
"DaimlerChrysler AG and Daimler-Benz AG : Chrysler Corporation," securities.stanford.edu (accessed Mar. 27, 2009) |
Oct. 5- Toyota becomes the leading shareholder in Subaru-parent Fuji Heavy Ind. (FHI), buying 9% in shares from GM.
"Fuji Heavy Industries Dissolves Alliance with General Motors," www.fhi.co.jp, Oct. 5, 2005
Aug. 30- Toyota launches the Lexus brand in Japan
"Toyota to Sell the Lexus in Japanese Home Market," New York Times, Aug. 30, 2005
June 23- Katsuaki Watanabe succeeds Fujio Cho as CEO.
"Toyota Poised to Raise N.A. Production," Automotive News, July 11, 2005 |
Sep. 8- Honda announces the development of the world's first production motorcycle airbag crash protection.
"Honda Develops World's First Production Motorcycle Airbag System," Honda World website, Sep. 8, 2005
Mar.- Honda introduces the Ridgeline, its first pickup truck.
"2006 Honda Ridgeline - First Drive Review," www.caranddriver.com, Mar. 2005
2005- Honda returns to Formula One racing as a team owner and car builder after a 13-year hiatus.
"Global Crisis Ends Honds F1 Era," news.bbc.co.uk, Dec. 5, 2008 |
| 2004 |
Apr. 29- GM rolls its last Oldsmobile, a 2004 Alero, off the line, 107 years after the first Oldsmobile was produced.
"Dead at 106: Oldsmobile," money.cnn.com, Apr. 29, 2004 |
|
|
|
|
| 2003 |
Mar.- GM ends production of the lease-only EV1 car citing "after ten years and investing over a billion dollars we think its time to move on."
"GM Pulls Plug on Electric Car," CBS News website, Mar. 11, 2003
Dec.- GM sells the remainder of Hughes Electronics, the parent of DirecTV, to Rupert Murdoch's News Corp. for $6.6 billion.
"Regulator Approves Murdoch Takeover of US Satellite Station," Sunday Telegraph, Dec. 21, 2003 |
June 16- Ford celebrates its 100th year anniversary as an auto manufacturer.
"Ford Motor Company Chronology," The Henry Ford website (accessed Mar. 17, 2009)
2003- Ford loses second place in global annual sales to Toyota.
"Toyota Shifts to 2nd Place," The Gazette, Jan. 24, 2004 |
2003- Chrysler is the first manufacturer to build and sell one million alternative fuel vehicles.
"Riding Out the Recession," HeraldTribune.com (accessed Mar. 20, 2009) |
2003- Toyota overtakes Ford in global annual sales, becoming #2 behind GM.
"Toyota Shifts to 2nd Place," The Gazette, Jan. 24, 2004 |
June- Takeo Fukui takes over as Honda's CEO from Hiroyuki Yoshino.
"Takeo Fukui," Honda Corporate website, July 16, 2003
2003- Honda has the highest Corporate Average Fuel Economy (CAFE) rating among the 10 major automakers and holds the top five positions in the Environmental Protection Agency (EPA) fuel economy guide.
"Honda Meets EPA Auto Emission Reductions Years Ahead of Requirements," Honda Corporate website, Jan. 26, 2004 |
| 2002 |
Apr. 29- GM buys key assets of S. Korea's bankrupt Daewoo Motor Co. for $251 million.
"GM Buys Daewoo Assets," Auto Channel website, Apr. 30, 2001 |
Jan. 11- Ford announces a restructuring plant to eliminate 35,000 jobs, close up to seven plants plants worldwide, and discontinue four car models.
"Ford to Cut 35,000 Jobs, Close Plants," www.pbs.org, Jan. 11, 2002 |
Jan.- Chrysler buys out GM's 36% interest in New Venture Gear, a Chrysler-GM powertrain joint venture.
"Daimler Takes Over Landmark JV," Daily Deal, Jan. 10, 2002 |
Mar. 3- Toyota debuts at the Formula One race in Australia.
"Toyota's F1 History," news.bbc.co.uk (accessed Mar. 24, 2009) |
Feb. 14- ASIMO, Honda's humanoid robot, rings the opening bell of the NYSE to celebrate Honda's 25th anniversary as the first Japanese carmaker to list on the New York Stock Exchange (NYSE).
"Honda Celebrates 25 Years on New York Stock Exchange," Honda World website, Feb. 14, 2002 |
| 2001 |
Aug.- CEO Rick Wagoner hires GM/BMW/Ford/
Chrysler veteran Robert Lutz to be GM's head of product development.
"Lutz Has the Right Stuff for GM," Washington Times, Aug. 17, 2001 |
Oct. 30- Ford announces that William Ford, Jr., Henry Ford's great-grandson, will take over as CEO from Jacques Nasser to stem Ford's losses.
"Nasser Out as Ford CEO," money.cnn.com, Oct. 30, 2001
May 22- Ford recalls more than 13 million Firestone tires due to fatal rollovers.
"Ford Recalls 13 Million Tires," money.cnn.com, May 22, 2001
2001- Ford sales plummet and the company loses $5.5 billion
"Ford Profit Tumbles 38 Percent," International Herald Tribune, Apr. 21, 2005 |
|
July 12- Toyota begins a joint venture with Peugeot-Citroen to produce small cars.
"TPCA's Milestones," Toyota Peugeot Citroen Automotive (TPCA) website (accessed Mar. 24, 2009)
Apr. 25- Toyota announces plans to raise its 37% stake in Hino Motors to 50% for $548 million.
"Toyota Ponders Overseas Truck Ties," Nikkei Weekly, May 1, 2001
|
|
| 2000 |
Dec. 12- GM announces a restructuring plan to phase out its Oldsmobile division and to cut thousands of jobs.
"End of the Road for Olds," Washington Times, Dec. 12, 2000
June 1- G. Richard Wagoner is named CEO, replacing John Smith.
"Leadership History: Chief Executive Officers," www.gm.com (accessed Mar. 13, 2009)
Jan. 10- GM announces it will buy the remaining 50% of Swedish automaker Saab to gain a 100% ownership.
"GM Buying Half of Saab," Daily Deal, Jan. 10, 2000 |
Apr. 14- Ford announces plans to spin-off Visteon Corp., its parts-making organization.
"Ford Plans Spin-off and $10bn Payout," The Times, Apr. 15, 2000
Mar. 17- Ford announces it will buy Land Rover from BMW for $2.8 billion.
"Ford to Buy Land Rover from BMW," Los Angeles Times, Mar. 17, 2000 |
Nov. 20- Dieter Zetsche moves from his position as CEO of Daimler-Chrysler to become CEO of the Chrysler Group.
"New Chief Must Rally Chrysler's Dispirited Troops," Automotive News, Nov. 20, 2000 |
Mar. 6- Toyota announces it will purchase a 5% equity stake in Yamaha Motor Co.
"Toyota to Purchase 5% Stake in Yamaha's Motorcycle Unit," Japan Times, Mar. 7, 2000 |
Oct. 26- Honda announces the purchase of a 20% stake in FuelMaker Corp., a manufacturer of natural gas systems.
"Honda Buys into Toronto Fuel Device Maker," National Post, Oct. 26, 2000 |
|
GM |
Ford |
Chrysler |
Toyota |
Honda |
| 1999 |
Dec.- GM acquires the exclusive ownership of the Hummer brand name worldwide from AM General for an undisclosed sum.
"Company History," www.amgeneral.com (accessed Mar. 13, 2009)
Dec.- GM purchases 20% of Subaru-parent Fuji Heavy Ind. (FHI) to become its top shareholder.
"Fuji Heavy Industries Dissolves Alliance with General Motors, Entering a New Business Collaboration with Toyota," www.fhi.co.jp, Oct. 5, 2005 |
Jan. 27- Ford confirms plans to buy Volvo's auto operations for $6.4 billion.
"Ford Buys Volvo Car Arm," money.cnn.com, Jan. 27, 1999
Jan. 1- Retiring Chairman Alex Trotman is replaced by William Clay Ford, Jr. and Jacques Nasser becomes President and CEO.
"A Ford is Back in the Company Driver's Seat," Financial Post, Sep. 12, 1998 |
|
Sep. 8- Toyota announces it will list itself on the New York and London Stock Exchanges "to increase investor awareness in the company."
"Toyota Set to List Shares in U.S. and Britain," New YorkTimes, Sep. 8, 1999
Apr. 13- Toyota announces Fujio Cho to take over as President from Hiroshi Okuda.
"Toyota Chooses New Head," Daily Yomiuri, Apr. 14, 1999 |
Dec.- The Honda Insight is the first gas-electric car available to consumers in the US.
"High-Tech, 70-mpg Honda Hybrid to Be named 'Insight'," Honda Corporate website, Aug. 27, 1999
Nov.- The Honda Accord is the first vehicle to gain California's Air Resources Board (CARB) Super Ultra Low Emission Vehcle (SULEV) designation.
"2000 Honda Accord SULEV Receives Clean Air Award from SCAQMD," Honda Corporate website, Oct. 25, 2000
|
| 1998 |
Dec. 17- GM rolls its first Chinese-market Buick off the line in a joint-venture assemly line with Shanghai Automotive Ind. Corp.
"Buicks in China Roll Off Line Today," USA Today, Dec. 17, 1998
Dec.- GM pays $456 million to raise its equity share in Japan automaker Isuzu to 49%.
"GM Boosts Stake in Isuzu to 49%," National Post, Dec. 19, 1998
Oct. 5- Ron Zarrella becomes Executive Vice President and President of GM North America.
"The WPI Ihternational Corporate Leaders Roundtable," Worcester Polytechnic Institute website, Oct. 18, 2002
June/July- Massive layoffs at GM's Flint, MI plant trigger a 54-day strike that costs GM $2.2 billion.
"Strikes Take Hefty Toll on GM," Financial Post, July 30, 1998 |
Apr. 9- Edsel Ford II, great-grandson of founder Henry Ford, announces his resignation as President of Ford Credit.
"Edsel Ford II Reduces His Role at Ford," USA Today, Apr. 10, 1998 |
May 7- German-based Daimler-Benz announces a $37 billion merger with Chrysler to form Daimler-Chrysler AG.
"Key Dates in Chrysler's Recent History," San Francisco Chronicle, Oct. 11, 2008
May.- Juergen Schrempp and Robert Eaton become co-chairmen of the new Daimler-Chrysler.
"The Odd Couple Behind the Wheel," Washington Post, May 8, 1998 |
Aug. -Toyota pays $414 million for a majority stake in affiliate Daihatsu Motor Co., Japan's second largest producer of mini-cars.
"Toyota to Buy Majority Stake in Daihatsu," Financial Post, Aug. 29, 1998 |
Apr.- The Honda Civic GX natural gas vehicle is the cleanest internal combustion engine ever tested by the EPA.
"Lean, Green Civic," Courier Mail, June 18, 2003
Mar. 17- Honda, founded in 1948, celebrates its 50th anniversary.
"Honda 50th Anniversary Commemorative Programs Begin," Honda World website, Mar. 17, 1998
Apr. 26- Honda names Hiroyuki Yoshino as CEO, replacing Nobuhiko Kawamoto.
"Honda Announces New President," www.autoweb.com, Apr. 26, 1998 |
| 1997 |
Jan. 16- GM sells its Hughes defense electronics business to Raytheon for $9.5 billion.
"$9.5B Deal Ratheon Wins GM Subsidiary's Defense Unit," USA Today, Jan. 17, 1997 |
Feb. 19- Ford sells its heavy-truck business to Freightliner.
"Focus on Core Business Leads Ford to Sell Out and Freightliner to Add Muscle to Heavy Truck Business," Diesel Progress, Mar. 1997 |
Apr./May - A month-long strike by 1,856 workers, the longest at a Chrysler plant in more than 30 years, causes Chrysler to lose $450 million.
"Chrysler Says Strike Will Cost It $450 Million," New York Times, May 14, 1997 |
Oct.- Toyota begins production of what becomes the world's best selling hybrid car, the Prius.
"The Birth of the Prius," Fortune, Feb. 24, 2006 |
June- Yoshihide Munekuni becomes Chairman of Honda.
"Mr. Yoshihide, Honda Chairman, Is Elected to Lead JAMA," News from JAMA, May/June 2002 |
| 1996 |
Dec.- With introduction of the EV1, GM becomes the first to market an electric car to the public; the EV1 is available by lease only.
"GM Launches EV1 with Ad Blitz," Automotive News, Dec. 2, 1996 |
Apr.- Ford takes control of Japanese automaker Mazda by spending $481 million to up Ford's stake from 25% to 33%.
"The Struggle for Mazda's Soul," Business
Week, July 21, 1997 |
Apr. 8- Chrysler sells Electrospace Systems and Chrysler Technologies Airborne Systems, Inc. to Raytheon for $455 million.
"Raytheon to Buy Chrysler Technologies for $455 Million," Business Wire, Apr. 8, 1996
1996- Chrysler Corp. market share is 16%, the highest since 1957.
"Chrysler LLC Chronology," Walter P. Chrysler Museum website (accessed Mar. 19, 2009) |
|
Apr.- Honda unveils the Intelligent Community Vehicle System (ICVS) in Japan, a plan to help alleviate traffic congestion.
"Honda Introduces ICVS, a Regional Traffic System for the Near Future, at Twin Ring Motegi," Honda World website, Mar. 11, 1998
Dec.- Honda introduces its first prototype of a humanoid robot called P2, the world's first self-regulating, two-legged walking robot.
"P1-P2-P3 (1993-1997)," Honda World website (accessed Mar. 25, 2009) |
| 1995 |
1995- GM's Motors Trading Corp., a trading subsidiary, is dissolved.
"Important GM Dates: 1990-Present," media.gm.com (accessed Mar. 16, 2009) |
|
Apr. 12- Chrysler's biggest shareholder, Kirk Kerkorian, joins former Chrysler Chairman Lee Iacocca in a failed $20 billion takeover attempt of Chrysler.
"Kerkorian/Iacocca Makes Unsolicited Bid for Chrysler," Corporate Growth Report Weely, Apr. 24, 1995 |
Sep. 21- Toyota increases its stake in Japanese automaker Daihatsu Motor Co. to 33%.
"Toyota Doubles Its Holdings in Daihatsu Motor of Japan," New York Times, Sep. 21, 1995
Aug. 10- Hiroshi Okuda becomes CEO, replacing Tatsuro Toyoda, son of Toyota founder Kiichiro Toyoda.
Inside the Mind of Toyota, 2005 |
|
| 1994 |
Dec. 12- Ron Zarrella is hired away from Baush & Lomb to become GM's VP for North American sales; he spends the next seven years instituting "brand marketing" strategy.
"Happy 100th Birthday, Gneral Motors," www.motortrend.com (accessed Mar. 16, 2009) |
Dec.- Ford dissolves Autolatina, a joint venture in Brazil and Argentina of Ford and Germany's Volkswagen.
"Company News; Ford and V.W. Ending Latin Joint Ventures," New York Times, Dec. 2, 1994
Apr. 14- Ford controls Hertz Corp. by raising its stake to 54%.
"Form 8-K," US Securities and Exchange Commission website, Apr. 14, 1994 |
|
|
Apr.- 18 American Honda officials and employees face criminal bribery charges.
"Honda Is Sued in Bribe Case," New York Times, Apr. 14, 1994 |
| 1993 |
Nov. 19- GM and Toyota sign an agreement to sell GM's Chevy Cavalier in Japan as the Toyota Cavalier.
"Chevy Cavalier Becomes Toyota Cavalier," www.history.com (accessed Mar. 16, 2009)
Aug. 27- GM announces that it is selling Group Lotus and Lotus Cars to Italy's Bugatti International for an undisclosed sum.
"GM Sells Lotus to Bugatti," Financial Post, Aug. 28, 1993 |
Nov. 1- Alex Trotman becomes CEO replacing Harold "Red" Poling; Trotman is the first foreign-born executive to hold this post at Ford.
"Ford in Europe - An Historical Time Line," Automotive News, June 2, 2003
1993- Five of the top eight selling cars in the US are Fords.
"Ford Motor Company Chronology," The Henry Ford website (accessed Mar. 17, 2009) |
Nov.- Chrysler confirms talks to sell Italian automaker
Lamborghini to Megatech, a Bermuda Holding company.
"Chrysler Sells Lamborghini to Indonesian Group," Automotive News, Nov. 22, 1993
July- Chrysler sells remaining 3% stake in Japan's Mitsubishi Motors.
"Chrysler to Sell Its Misubishi Motors Stake," Financial Post, July 3, 1993
Jan. 1- Retiring Chairman of Chrysler Lee Iacocca passes over Chrysler President Bob Lutz to name former GM engineer Robert Eaton as Chairman and CEO.
"Egos Collide; Iacocca Spurns 'Disrespectful' Lutz in CEO Derby," www.autonews.com, Feb. 16, 2009 |
Nov. 19- Toyota and GM sign an agreement to sell GM's Chevy Cavalier in Japan as the Toyota Cavalier.
"Chevy Cavalier Becomes Toyota Cavalier," www.history.com (accessed Mar. 16, 2009) |
Apr. 14- Honda confirms an agreement to trade vehicles with Isuzu; Isuzu will provide Honda with SUVs for the US and Japan and Honda will provide Isuzu with cars to sell in Japan.
"Honda and Isuzu Confirm a Deal to Trade Vehicles," New York Times, Apr. 15, 1993 |
| 1992 |
Nov.- GM sells its remaining 50% of GM Korea to Daewoo for $170 million.
"GM to Get $170 Million from Daewoo," Automotive News, Nov. 9, 1992
Oct. 27- GM's board ousts Robert Stempel as the company faces financial difficulty and hires John Smith as a replacement.
"Shake-up at G.M.," New York Times, Oct. 27, 1992 |
June- Ford and Mazda establish a joint venture named AutoAlliance Intl.
"Mazda in Brief: Partnership with Ford," www.mazda.com, 2008 |
|
July 30- Tatsuro Toyoda, son of Toyota founder Kiichiro Toyoda, is named to replace his brother Shoichiro Toyoda as CEO.
"Succession at Toyota Expected and Praised," New York Times, July 30, 1992
1992- Toyota's first European car plant begins production.
"Toyota Drives Its European Campain," Birmingham Post, Oct. 14, 1998 |
Sep. 12- Honda announces that it will withdraw from Formula 1 racing to turn its attention to making low-polluting engines.
"Honda Cutting Ties to Auto Racing," New York Times, Sep. 12, 1992 |
| 1991 |
Dec. 19- GM Chairman Robert Stempel announces plans to idle 21 plants and reduce number of employees by 74,000.
"GM Plans to Close 21 More Factories, Cut 74,000 Jobs, Slash Capital Spending," Wall Street Journal, Dec. 19, 1991 |
July 15- Ford and Volkswagen start a joint venture AutoEuropa.
"Galaxy Timeline," Ford Galaxy Owners Club website (accessed Mar. 17, 2009)
1991- Ford experiences its largest one-year loss to date at $2.3 billion.
"Ford Motor Company Chronology," The Henry Ford website (accessed Mar. 17, 2009) |
Oct. 29- Chrysler agrees to sell Misubishi Motors its 50% stake in their joint venture Diamond-Star Motors for $99.75 million.
"Chrysler Sells Diamon-Star Stake to Mitsubishi for $99.75 Million," US Securities and Exchange, Apr. 14, 1994
Feb.- Chrysler Motors President, Robert Lutz, takes over as President of Chrysler Corporation.
"General Motors Corporation: Executive Profile," BusinessWeek website, Mar. 19, 2009
1991- Chrysler loses $795 million due to poor sales, compared to 1990 net profits of $68 million.
"Chrysler Loses $795 Million," Automotive News, Feb. 10, 1991 |
|
Aug. 5- Soichiro Honda who founded Honda Motor Co., Ltd., dies at the age of 84.
"Soichiro Honda: Uniquely Driven," Businness Week, Aug. 17, 2004 |
| 1990 |
Oct.- GM CEO Robert Stempel agrees to an expanded Jobs Bank program guaranteeing United Auto Workers (UAW) up to 95% of pay when laid off.
"It's Back-scratching Time in Detroit," Industry Week, Oct. 15, 1990
Aug. 1- Robert Stempel is named CEO to replace retiring Roger Smith who was the target of Michael Moore's 1989 film Roger & Me.
"Chief Executive Officers," www.gm.com (accessed Mar. 16, 2009) |
Mar. 15- Ford launches the Explorer which becomes the best-selling SUV in America.
"Ford Explorer Celebrates 10th Aniversary," www.ford-trucks.com, Mar. 15, 2000
Mar. 1- Donald Peterson retires as CEO; Harold "Red" Poling is named the new Chairman and Philip Benton is named President.
"Big 3 Turnover at the Top Lowest Since 1983," Automotive News, Feb. 12, 1990 |
Oct. 5- Chrysler forms a powertrain joint venture with GM titled New Venture Gear.
"New Venture Gear: An Unprecedented Joint Venture Between GM and Chrysler," Indiana Business Mageazine, Mar. 1991 |
|
June 28-Nobuhiko Kawamoto replaces Tadashi Kume as President of Honda.
"Honda's New Boss Has Fun with Cars," Fortune, June 18, 1990
1990- Honda surpasses Toyota on Consumer Reports' recommendation for new-model cars and minivans.
"Best Bet from 'Consumer Reports'," USA Today, Mar. 27, 1990 |
|
GM |
Ford |
Chrysler |
Toyota |
Honda |
| 1989 |
Dec. 15- GM announces it will buy 50% of Swedish automaker Saab for $600 million.
"GM Agrees to Buy Half of Sabb's Car Operations," Washington Post, Dec. 16, 1989
1989- GM's Electro-Motive Division introduces the first US built and operated diesel-electric locomotive to use AC technology.
"Important GM Dates: 1980-1989," media.gm.com (accessed Mar. 16, 2009) |
Nov. 3- Ford announces plans to buy UK automaker Jaguar for $2.38 billion.
"Ford to Buy Jaguar for $2.38 Billion," New York Times, Nov. 3, 1989
Oct. 29- Ford acquires The Associates, a financial company, for $3.3 billion, the largest acquisition in Ford's history.
"Citi's History: The Associates," www.citi.com (accessed Mar. 17, 2009) |
Nov. 16- Chrysler confirms that it will end its troubled joint venture with Maserati.
"Chrysler Ends Maserati Venture," New York Times, Nov. 17, 1989
Jan. 19- Chrysler Technologies Corp, an operating unit of Chrysler Corp, establishes Chrysler Airborne Systems, a military aircraft subsidiary.
"Chrysler Unit Set for Aircraft," New York Times, Jan. 19, 1989 |
Sep. 1- Toyota launches Lexus, a new luxury division, in North America.
"Toyota Launches Lexus," www.history.com (accessed Mar. 24, 2009) |
June 27- Honda founder Soichiro Honda is elected to be the first Japanese to be inducted into the US Automotive Hall of Fame.
"Honda Named to Hall of Fame," Japan Economic Journal, July 22, 1989
1989- Honda's Accord becomes the best-selling car in the US for the first time, beating out the Ford Taurus.
"Honda Accord Wins '89 Car Sales Title," Automotive News, Jan. 8, 1990 |
| 1988 |
|
Jan. 14- Edsel Ford II and William Clay Ford, Jr. join William Clay Ford as family members on the Board of Directors.
"1983-2003," www.ford.co.nz (accessed Mar. 18, 2009) |
Oct.- Chrysler enters into a joint agreement with Fiat to distribute Alfa Romeos in the US.
"Fiat and Chrysler to Form Joint Venture to Market Alfa Romeo Cars in America," Wall Street Journal, Oct. 7, 1988 |
|
Jan.- Honda sweeps the top 3 places of the Motor Trend "Import Car of the Year."
"Honda," www.histomobile.com (accessed Mar. 25, 2009)
|
| 1987 |
|
Sep. 7- Ford announces it will take control of British automaker Aston Martin Lagonda Ltd.
"Ford Moves Up Market with 007 Takeover," The Guardian, Sep. 8, 1987
July 1- Ford joins with Germany's Volkswagen to form Autolatina, a joint Brazil and Argentina venture.
"Ford, VW Joint Venture Dominates Auto Market," Nikkei Weekly, Oct. 8, 1988
1987- Ford has a record net profit of $4.6 billion, the best earnings ever for an automobile company.
"Ford Had Record Net of $4.6 Billion for 1987," New York Times, Feb. 19, 1988 |
Aug. 5- Chrysler acquires American Motors Corp. (AMC), retaining the Jeep brand in the process.
"Chrysler's AMC Buyout Fits Long History for Both Firms," Christian Science Monitor, Aug. 7, 1987
June 20- Chrysler acquires Electrospace Systems, a communications company, for $367 million.
"Chrysler Sets Deal for Electrospace," New York Times, June 20, 1987
Apr. 23- Chrysler announces it will buy Italy's Lamborghini for $25 million.
"Fast Cars: Italian-designed, American-owned," The Economist, May 2, 1987 |
June- Toyota announces an agreement with Volkswagen for joint production of light trucks in West Germany.
"Toyota Venture with Volkswagen," New YorkTimes, June 24, 1987 |
Jan. 28- America Honda annouces airbags will be available in the Acura Legend, the first time in a Honda product.
"American Honda to Offer Air Bags," Washington Post, Jan. 28, 1987 |
| 1986 |
Jan. 22- GM announces a $20 million agreement to acquire 60% of the UK's Group Lotus and Lotus Cars.
"GM to Buy 60% Stake in Group Lotus," Washington Post, Jan. 23, 1986 |
July- Ford buys 10% of South Korea's Kia Motors.
"Kia Approves Deal with Ford," New York Times, Nov. 19, 2008 |
June- Chrysler plans to increase its equity in Maserati from 4% to 16% for $33 million.
"Chrysler Builds Its Maserati Stake," Business Week, June 9, 1986 |
1986- The 50 millionth Toyota vehicle is produced in Japan.
"Hisotory of Toyota: 1980-1989," www.toyota.co.jp (accessed Mar. 24, 2009)
|
|
| 1985 |
June- GM acquires Hughes Aircraft for $5 billion.
"General Motors Reaches Buy Agreement with Hughes," Aviation
Week & Space Technology, June 10, 1985
Jan. 7- GM launches the Saturn Corp. as a wholly owned but independent subsidiary.
"General Motors Creates Saturn," www.history.com, Jan. 7, 1985 |
Feb. 1- Philip Caldwell retires, Donald Peterson becomes Chairman and Harold "Red" Poling becomes President.
"Ford Motor Company Chronology," The Henry Ford website (accessed Mar. 17, 2009) |
Oct. 9- Chrysler buys BankAmerica Corp.'s consumer finance subsidiary, FinanceAmerica, for $405 million.
"Chrysler Buying Bank America Unit," New York Times, Oct. 9, 1985
Oct. 8- Chrysler forms a 50-50 manufacturing joint venture with Mitsubishi called Diamond-Star Motors.
"Chrysler, Mitsubishi Pick Illinois Site," New York Times, Oct. 8, 1985 |
July 24- Toyota announces it will build an assembly plant for vehicle production in the US.
"Toyota Plants Set for U.S., Canada," New York Times, July 24, 1985
Apr.- Toyota's cumulative automobile exports reach 20 million units.
"Toyota's Exports Top 20 Mil. Units," Japan Economic Journal, May 21, 1985
|
|
| 1984 |
Sep.- The United Auto Workers (UAW) achieve a landmark no-layoff guarantee from GM for workers with one or more years of seniority.
"Keep Jobs Here," www.uaw.org (accessed Mar. 16, 2009)
Jan.- GM combines formerly-autonomous divisions together to form Chevrolet-Pontiac-GM of Canada and Buick-Oldsmobile-Cadillac in a massive reorganization.
"GM's Reorganization Unveiled Two Divisions Replace Five," Washington Post, Jan. 11, 1984 |
|
Nov. 8- Chrysler Corp. announces a major reorganization into a holding company with four operating divisions.
"Chrysler Reshaped into 4 Units," New York Times, Nov. 8, 1985 |
|
Aug. - Honda begins operation of its Honda Power Equipment Mfg. subsidiary in the US.
"Honda Power Equipment Sets Milestone Sells 20 Millionth Power Product in the United States," Honda Corporate website, Feb. 7, 2006 |
| 1983 |
Sep.- GM, founded in Sep. 1908, celebrates its 75th anniversary as an auto manufacturer.
"GM Celebrates 75 Years in Car Business," Christian Science Monitor, Sep. 29, 1983
Feb. 17- A joint venture, called NUMMI (New United Motor Manufacturing, Inc.), between GM and Toyota is created to build vehicles in the US.
"GM-Toyota Venture Gets Rolling," Washington Post, Dec. 19, 1984 |
|
Sep.- Chrysler repays its federal loan guarantees from 1979, "one of the most profitable programs that the Government has ever had," seven years early.
"Chrysler Top Bids to Buy Back Stock Rights," New York Times, Sep. 13, 1983 |
May- Toyota Financial Services is created.
"Company Background," Toyota Financial Services website (accessed Mar. 24, 2009)
Feb. 17- A joint venture, called NUMMI (New United Motor Manufacturing, Inc.), between Toyota and GM is created to build vehicles in the US.
"GM-Toyota Venture Gets Rolling," Washington Post, Dec. 19, 1984 |
1983 - Honda returns to the Formula One after a 15-year hiatus.
"Heritage," Honda IndyCar Series Racing website (accessed Mar. 25, 2009)
1983- Honda names Tadashi Kume as President of Honda Motor Co.
Giants of Japan: The Lives of Japan's Greatest Men and Women, 2002 |
| 1982 |
Mar. 22- The United Auto Workers (UAW) enters into an agreement with GM on the Guaranteed Income Stream (GIS), a profit sharing moratorium on plant closings and company-funded training.
"General Motors and Auto Workers Reach Settlement," New York Times, Mar. 22, 1982 |
Oct. 1- Henry Ford II, grandson of founder Henry Ford, retires as company officer and employee.
"100 Years: 1962-1983," www.ford.co.nz (accessed Mar. 16, 2009)
Feb. 20- The United Auto Workers (UAW) enters into an agreement with Ford on the Guaranteed Income Stream (GIS), a profit sharing moratorium on plant closings and company-funded training.
"What's Good for Ford..." New York Times, Feb. 20, 1982 |
Mar.- Chrysler sells Chrysler Defense Inc. to General Dynamics Corp. for $336 million.
"Chrysler: 1925-Now," Automotive History Online website (accessed Mar. 19, 2009) |
July 1- Toyota Motor Corp., Ltd. and Toyota Motor Sales Co., Ltd. merge into Toyota Motor Corp.
"Vision & Philosophy," www.toyota.co.jp (accessed Mar. 23, 2009)
1982- Soichiro Toyoda, son of Toyota founder Kiichiro Toyoda, replaces Kiichiro's cousin Eiji Toyoda as CEO.
"Our Business," www.toyota.com (accessed Mar. 23, 2009) |
Nov. 2- American Honda becomes the first Japanese auto company to assemble vehicles in the US.
"Honda's First U.S. Built Car Rolls Out," New York Times, Nov. 2, 1982 |
| 1981 |
Aug. 12- GM signs a three-way agreement with Japan's Suzuki Motor and Isuzu Motors to jointly develop small cars.
"GM Ties with Two Japanese Car Makers," Japan Economic Journal, Aug. 18, 1981
Jan. 1- Roger Smith replaces retiring Thomas Murphy as CEO of GM.
"Chief Executive Officers," www.gm.com (accessed Mar. 16, 2009) |
|
|
|
Aug.- Honda introduces the Honda Electro Gyrocator, the first automotive navigation system.
"The Final Test: From Suzuka to Tokyo," Honda World website (accessed Mar. 25, 2009) |
| 1980 |
1980- GM loses over $700 million, its first loss since 1921, as its sales drop 26%.
Corporate Governance, 2008
May- GM announces a plan to spend $40 billion over four years for redesigning and modernization.
"GM Centennial: 100 Years of Manufacturing Milestones," Assembly, July 2, 2008
|
Mar.- Henry Ford II retires as Chairman, giving CEO and President Philip Caldwell the position; Donald Peterson replaces Caldwell as CEO and President.
"International Directory of Company Histories: Ford Motor Company," www.enotes.
com (accessed Mar. 17, 2009) |
Jan. 5- The United Auto Workers (UAW) agrees to a three year contract that includes $446 million in wage concessions to help save Chrysler from bankruptcy.
"UAW, Chrysler Officials Agree on Contract Cuts," Washington Post, Jan. 6, 1980
1980 - Chrysler sells Chrysler Boat, its marine division, to Texas Marine International (TMI).
"Chrysler Marine: Chrysler on Water," www.allpar.com (accessed Mar. 20, 2009) |
|
|
|
GM |
Ford |
Chrysler |
Toyota |
Honda |
| 1979 |
Jan.- GM sells its Frigidaire Division appliance business to Whie Consolidated Ind.
"Frigidaire Historical Collection," Paul Laurence Dunbar Library website, Wright State University, Fall 2005
1979- GM forms Motors Trading Corp, a trading subsidiary, to serve divisions and plants worldwide.
"Frigidaire Historical Collection," Paul Laurence Dunbar Library, Wright State University, Fall 2005 |
Nov.- Ford purchases a 24% stake in Japanese automaker Mazda.
"Ford/Mazda History," Automotive News, Sep. 15, 1996
Oct.- Henry Ford II retires as CEO, giving Vice Chairman Philip Caldwell the position of CEO and President.
"International Directory of Company Histories: Ford Motor Company," www.enotes.com (accessed Mar. 17, 2009) |
Dec. 21- Chrysler receives a $1.5 billion federal loan guarantee, known as the Chrysler Loan Guarantee Act of 1979, the first big US automaker bailout.
Riding the Roller Coaster: A History of the Chrysler Corporation, 2003 |
|
1979- Honda of America Manufacturing opens and begins motorcycle assemby.
"Honda's First U.S. Built Car Rolls Out," New York Times, Nov. 2, 1982 |
| 1978 |
1978- Korea's Shinjin 50% joint venture with GM is sold to Korea's industrial giant Daewoo Group.
Korean Attitudes Toward the United States: Changing Dymanimcs, 2005 |
July 13- Ford Chairman Henry Ford II fires President Lee Iacocca, the second firing in nine years, naming Philip Caldwell President.
"Henry II Ends Iacocca's Quest for the Top Spot at Ford Motor," Automotive News, June 16, 2003
June 9- Ford agrees to recall 1.5 million Ford Pintos and 30,000 Mercury Bobcats for fuel tank design defects that caused fatal fires from rear-end collisions.
"Lee Iacocca's Pinto: A Fiery Failure," Automotive News, June 15, 2003 |
Nov.- Lee Iacocca, former Ford President, is hired as President by Chrysler CEO John Riccardo.
"Iacocca to the Rescue," Newsweek, Nov. 13, 1978
Aug.- Chrysler sells its European subsidiaries to Peugeot-Citroen.
The Automobile Age, 1990 |
|
|
| 1976 |
|
|
Nov. 12- Chrysler signs a $20 billion contract with the US Army to build XM-1 tanks.
"The First Chrysler Bail Out: The M-1 Tank," Washington Monthly, Feb. 1987 |
|
|
| 1975 |
1975- GM cars come equipped with catalytic converters to comply with the US Clean Air Act of 1975.
"Happy 100th Birthday, General Motors," www.trucktrend.com, (accessed Mar. 16, 2009) |
|
|
1975- Toyota surpasses Volkswagen to become the bestselling foreign import brand in the US.
"Toyota Cuts in Front of Ford as No. 2," Los AngelesTimes, Jan. 24, 2004
1975- Toyota starts a prefabricated housing business with Kasugai Housing Works.
"Toyota Throws More Weight Behind Its Homes Unit," Wall Street Journal, July 2, 2008 |
1975- Honda's CVCC (Compound Vortex Controlled Combustion) engine is the first engine without a catalytic converter to comply with the US Clean Air Act of 1975.
"Honda Chronology (1979-1970)," Honda Media website (accessed Mar. 25, 2009) |
| 1974 |
Dec. 1- Thomas Murphy is named CEO, replacing retiring Richard Gerstenberg.
"Chief Executive Officers," www.gm.com (accessed Mar. 16, 2009)
1974- Due to the oil embargo, GM's large car sales are down 35%and small cars retain 40% of the market.
"International Directory of Company Histories," www.enotes.com (accessed Mar. 16, 2009) |
|
|
|
July 1- Honda consolidates the Honda Manufacturing Machinery with the Production Engineering Division to create Honda Engineering Co., Ltd.
"Honda Engineering: Toward the New Era," Honda World website (accessed Mar. 25, 2009) |
| 1973 |
1973- GM and the United Auto Workers (UAW) establish the National Committee to Improve the Quality of Work Life, a "key development" in the evolution of corporation-union management philosophy.
"Becoming the Organization of the Future," Journal of Business Ethics, May 1982 |
|
1973- Chrysler acquires an additional 10% in Japan's Mitsubishi Motors.
"Chrysler LLC Chronology," Walter P. Chrysler Museum website (accessed Mar. 18, 2009) |
|
1973- Honda company leaders Soichiro Honda and Takeo Fujisawa retire and Kiyoshi Kawashima takes over as CEO.
"Retreating im Manly Fashion," Honda World website (accessed Mar. 25, 2009) |
| 1972 |
Jan. 1- Richard Gerstenberg replaces retiring James Roche as CEO.
"Chief Executive Officers," www.gm.com (accessed Mar. 16, 2009)
1972- GM establishes a joint venture with Korean car maker Shinjin Motor Co., becoming GM Korea.
"Alliance Timeline," Automotive News, Sep. 15, 2008 |
|
|
1972- Toyota begins non-vehicle manufacturing operations in the US.
"Shorter Is Better for Toyota's Supply Chain," www.purchasing.com, Aug. 14, 2008 |
Sep.- Honda forms Honda International Trading (HIT) which exports US products to Japan.
"Honda to Build a Motorcycle Plant in Ohio," Honda World website (accessed Mar. 25, 2009) |
| 1971 |
1971- GM acquires a 34% interest in Japan automaker Isuzu Motors.
"GM Sells Isuzu Shares for $300 million to Japanese Trading Companies, Bank," USA Today, Apr. 11, 2006
1971- GM designs and manufactures the Lunar Roving Vehicle mobility system for Apollo 15.
"Important GM Dates: 1970-1979," media.gm.com (acessed on Mar. 16, 2009) |
|
Sep.- Chrysler gains a 15% interest in Japan's Mitsubishi Motors Corp. for $28.3 million.
"Abstracts," New York Times, Sep. 10, 1971 |
|
|
| 1970 |
1970- 400,000 GM workers and United Auto Workers (UAW) members strike for 67 days.
"73,000 U.A.W. Members Go on Strike Against G.M.," New York Times, Sep. 25, 2007 |
Dec. 10- Lee Iacocca, a Ford employee since 1946, is named President, taking over for Henry Ford II.
"Lido A. Iacocca," www.stfrancis.
edu (accessed Mar. 17, 2009) |
Jan.- John Riccardo is named President, taking over for Lynn Townsend.
Riding the Roller Coaster: A History of the Chrysler Corporation, 2003
1970- Chrysler gains 73% of the equity of the Rootes Grp., which is renamed Chrysler UK Ltd.
"Chrysler LLC Chronology," Walter P. Chrysler Museum website (accessed Mar. 18, 2009) |
|
Mar.- The first Honda car imported to the US is the 1970 Honda N600.
"Honda," Histomobile website (accessed Mar. 25, 2009) |
|
| RECOMMENDED to you...
|
|
1
|
|
2
|
|
3
|
|
4
|
|
5
|
|
