Categories: This Day

April 2, 1956 – Alfred P. Sloan, GM chairman, retires

Alfred P. Sloan proved that even MIT graduates have a hard time finding work. After receiving his diploma in 1895, Sloan entered what he described as the most discouraging period of his life. That era ended with a job as a draftsman at Hyatt Roller Bearing Company. In 1899, after his father bought the company, he became general manager. In that position he recognized the company’s potential role in the emerging automotive industry and pushed to build products for it. Hyatt finally landed its first automotive client, Oldsmobile, in 1916. Not long after, Hyatt merged with several other companies to become United Motors Company, which General Motors acquired by 1920. Following the sale of UMC to GM, Sloan earned the title of vice president of operations at General Motors. From there, he would climb the corporate ladder.

Above: Sloan in 1937. Top: Sloan in 1927 with a Chevrolet

In the early 1920s, General Motors suffered from an identify crisis, though its hard to argue it ever had one in the first place. To bring some definition to the company, GM elected Sloan as its president in 1923. His efforts to remove inefficiencies and dial in manufacturing processes helped GM survive the Great Depression, war and other economic hardships over the next 30 years. Among Sloan’s greatest innovations are annual styling updates for vehicles and determining a pricing structure to prevent inner-company automakers from competing with each other (i.e., Chevrolet -> Pontiac -> Oldsmobile -> Buick -> Cadillac). This encouraged consumers to always buy GM, regardless of the depth of their pocket.

In 1937, after building General Motors into one of the world’s largest companies, GM elected Sloan Chairman of the Board. He served in this role until his retirement on this day in 1956. Sloan said of his his success at GM, “The ability to get people to work together is of the greatest importance.” Sloan passed away 10 years after his retirement at the age of 90.

Brian Corey

Recent Posts

October 31, 1957 – The Chevrolet Impala is announced

After debuting an Impala show car at the 1956 GM Motorama, Chevrolet used the name…

5 days ago

October 30, 1911 – Little Motor Car Company is founded, later becomes part of Chevrolet

The Little Motor Car Company, founded on October 30, 1911, in Flint, Michigan, is a…

5 days ago

October 29, 1932 – Safarikar builder Bruce Mohs is born

Bruce Mohs with his Opera Sedan following its restoration. (autobild.de) Perhaps you've heard of the…

1 week ago

October 28, 1977 – Tokyo Motor Show opens

First generation Daihatsu Charade. By Charles01 - Own work, CC BY-SA 3.0 The annual Tokyo…

1 week ago

October 27, 1937 – Second generation Cadillac V-16 is introduced

1940 Cadillac V16 90 Town Car To build the ultimate automobile, Cadillac began development of…

1 week ago

October 26, 1966 – Toyota introduces what will become the best selling car ever, the Toyota Corolla

1966 Toyota Corolla debut (Toyota) The Toyota Corolla, one of the most iconic and enduring…

1 week ago