October 24, 1975 – DeLorean Motor Company is founded

DeLorean Motor Company was founded on this day in 1975 by John. Z. DeLorean, a long time American automotive executive. The company only built one type of vehicle, the DMC-12, which first appeared as a prototype in October 1976 and would not go into production until 1981. The vehicle, which has gained a cult following and is widely known for its role as a time machine in the “Back to the Future” movies, only saw production for the years 1981-1983, before the company went bankrupt following drug trafficking charges against the founder of the company, of which he was later found not guilty. The DeLorean plant was built in Dunmurry in Northern Ireland and produced about 9,200 vehicles before shutting down. The vehicles featured a rear mounted Peugeot-Renault-Volvo fuel injected V6 engine with either a 5 speed manual transmission or 3 speed automatic. Originally the vehicle was designed to be a mid engine auto. By 1982 all kinks had been worked out and the vehicles were sold with a one-year/12,000 mile warranty. The final 100 DMC-12s were completed and sold by Consolidated International, now known as Big Lots. In 1995 a British Texan by the name of Stephen Wynne acquired the remaining stock of the vehicles and got trademark rights to the logo after starting a new “Delorean Motor Company.” His company now builds “new” Deloreans using remaining stock and original, leftover VIN tags. In January of 2016 the company announced it would build 300 DMC-12s in late 2016 and start production of “new” DMC-12s in 2017 with a projected retail cost of around $100,000.  Pic:1981 Delorean by Kevin Abata, grenexmedia(dot)com

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