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For the historian William James Durant, see Will Durant.
William Crapo "Billy" Durant (
December 8,
1861–
March 18, 1947) was a leading pioneer of the
United States automobile industry, the founder of General Motors and Chevrolet who created the system of multi-brand holding companies with different lines of cars.
Born in Boston, Massachusetts, he was the grandson of Michigan governor
Henry H. Crapo. William was a high school dropout, yet had become a leading manufacturer of horse-drawn vehicles by 1890, based in
Flint, Michigan. When approached to become General Manager of Buick in 1904, he made a similar success and was soon president of this horseless-vehicle company. In
1908 he arranged the incorporation by proxies of General Motors Corporation and quickly thereafter sold stock, and with the proceeds acquired
Oldsmobile. The acquisitions of Oakland (now Pontiac), Cadillac (automobile), and parts companies followed in short order.
General Motors and Chevrolet
In 1910, Durant became financially overextended and banking interests assumed control, forcing him from management of GM. He immediately set out to create another "GM," starting with the
Little (automobile) car, named after its founder, William H. Little. His initial intention was to compete with the Ford Model T, then beginning to show its impending popularity. Unsatisfied with this approach, however, he abandoned it and went into partnership with
Louis Chevrolet in
1911, starting the Chevrolet company. Before long, a disagreement between the two entrepreneurs resulted in Durant buying out his partner's share of the company. Nevertheless, the venture was so successful for Durant that he was able to buy enough shares in GM to regain control, becoming its president in
1916, only to lose it for good in 1920 to the DuPont interests. The Chevrolet product line became part of GM in 1917.
While in charge of Chevrolet, Durant did acquire other companies, including
Republic Motors, mainly to produce Chevrolets, and United Motors. The latter was owned by
Alfred P. Sloan, who, ironically, succeeded Durant as president of GM in the 1920s, and went on to build the company into the world's largest automaker.
Durant Motors
In
1921 he established a new
Durant Motors company, initially with one brand but later, as he had with General Motors, acquiring a range of companies whose cars were aimed at different markets. The cheapest brand was the
Star, aimed at the person who would otherwise buy the obsolescent Model T Ford Motor Company, while the Durant cars were mid-market, the
Princeton line (designed, prototyped, and marketed but never produced) competed with
Packard and
Cadillac (automobile), and the ultra-luxurious
Locomobile was the top of the line. However, he was unable to duplicate his former success, and the financial woes of the
Wall Street Crash of 1929 and the ensuing
Great Depression proved fatal as the company failed in
1933.
Wall Street
In the 1920s, Durant became a major "player" on
Wall Street and on
Black Tuesday joined with members of the Rockefeller family and other financial giants to buy large quantities of stocks in order to demonstrate to the public their confidence in the stock market. His effort proved costly and failed to stop the market slide.
After the fall of Durant Motors, Durant and his second wife lived on a small pension provided by Alfred P. Sloan on behalf of General Motors. He managed a bowling alley in Flint, Michigan until his death.
Further Reading
External links
- http://www.durantcars.com/
- History of Durant
For the historian William James Durant, see Will Durant.
William Crapo "Billy" Durant (
December 8,
1861–
March 18, 1947) was a leading pioneer of the United States
automobile industry, the founder of
General Motors and Chevrolet who created the system of multi-brand holding companies with different lines of cars.
Born in
Boston, Massachusetts, he was the grandson of Michigan governor
Henry H. Crapo. William was a high school dropout, yet had become a leading manufacturer of horse-drawn vehicles by 1890, based in
Flint, Michigan. When approached to become General Manager of Buick in 1904, he made a similar success and was soon president of this horseless-vehicle company. In
1908 he arranged the incorporation by proxies of General Motors Corporation and quickly thereafter sold stock, and with the proceeds acquired Oldsmobile. The acquisitions of Oakland (now
Pontiac), Cadillac (automobile), and parts companies followed in short order.
General Motors and Chevrolet
In 1910, Durant became financially overextended and banking interests assumed control, forcing him from management of GM. He immediately set out to create another "GM," starting with the Little (automobile) car, named after its founder, William H. Little. His initial intention was to compete with the
Ford Model T, then beginning to show its impending popularity. Unsatisfied with this approach, however, he abandoned it and went into partnership with
Louis Chevrolet in
1911, starting the
Chevrolet company. Before long, a disagreement between the two entrepreneurs resulted in Durant buying out his partner's share of the company. Nevertheless, the venture was so successful for Durant that he was able to buy enough shares in GM to regain control, becoming its president in 1916, only to lose it for good in 1920 to the DuPont interests. The Chevrolet product line became part of GM in 1917.
While in charge of Chevrolet, Durant did acquire other companies, including
Republic Motors, mainly to produce Chevrolets, and
United Motors. The latter was owned by
Alfred P. Sloan, who, ironically, succeeded Durant as president of GM in the 1920s, and went on to build the company into the world's largest automaker.
Durant Motors
In 1921 he established a new
Durant Motors company, initially with one brand but later, as he had with General Motors, acquiring a range of companies whose cars were aimed at different markets. The cheapest brand was the
Star, aimed at the person who would otherwise buy the obsolescent Model T
Ford Motor Company, while the Durant cars were mid-market, the
Princeton line (designed, prototyped, and marketed but never produced) competed with
Packard and
Cadillac (automobile), and the ultra-luxurious
Locomobile was the top of the line. However, he was unable to duplicate his former success, and the financial woes of the
Wall Street Crash of 1929 and the ensuing Great Depression proved fatal as the company failed in
1933.
Wall Street
In the 1920s, Durant became a major "player" on
Wall Street and on Black Tuesday joined with members of the Rockefeller family and other financial giants to buy large quantities of stocks in order to demonstrate to the public their confidence in the stock market. His effort proved costly and failed to stop the market slide.
After the fall of Durant Motors, Durant and his second wife lived on a small pension provided by Alfred P. Sloan on behalf of General Motors. He managed a bowling alley in Flint, Michigan until his death.
Further Reading
External links
- http://www.durantcars.com/
- History of Durant
William C. Durant - Wikipedia, the free encyclopedia
William Crapo "Billy" Durant (December 8, 1861 – March 18, 1947) was a leading pioneer of the United States automobile industry, the founder of General Motors and Chevrolet who ...
Durant, William Crapo - Hutchinson encyclopedia article about Durant ...
US manufacturer. His General Motors Company (GMC) was taken over by a banking ... Durant, William C. Durant, William Crapo Durant, William James Duranta Durantaye
www.classiccar.com
William C. Durant 1861-1947 Founder of General Motors Video: Courtesy of General Motors Cooperatio n Quicktime Plug-in Software Required
Durant, William C. definition of Durant, William C. in the Free Online ...
Durant, William C. (Crapo) (1861–1947) manufacturer; born in Boston, Mass. He was raised in Flint, Mich., where he left high school to work in his grandfather's lumberyard and ...
Durant, William C definition of Durant, William C in the Free Online ...
Durant, William C(rapo) (born , Dec. 8, 1861, Boston, Mass., U.S.—died March 18, 1947, New York, N.Y.) U.S. industrialist, founder of General Motors Corp. He established a ...
William C. Durant: Biography from Answers.com
William Crapo Durant The American industrialist William Crapo Durant (1861-1947) was the founder of General Motors, an automobile manufacturing
Ancestry.com
Ancestry.com is the largest family history site online with over 4 billion names in worldwide historical records, family tree services and genealogy learning materials
William C. Durant - Wikipedia
William Crapo Durant (Boston, 8 dicembre 1861 – 18 marzo 1947) è stato un imprenditore statunitense. Fu una figura molto importante dell' industria automobilistica ...
William West Durant - Wikipedia, the free encyclopedia
William West Durant (1850 – 1934) was a ... He was the son of Thomas C. Durant, the financier and railroad promoter who was behind the Crédit Mobilier scandal. William West ...
William C. Durant
William C. Durant. AKA William Crapo Durant. Born: 8-Dec-1861 Birthplace: Boston, MA Died: 18-Mar-1947 Location of death: New York City Cause of death: unspecified
