Everything about The Detroit Automobile Company totally explained
The
Detroit Automobile Company was an early
American automobile manufacturer founded on
August 5,
1899 in
Detroit,
Michigan. It was the first venture of its kind in Detroit. Automotive mechanic
Henry Ford attracted the financial backing of three investors, including Detroit Mayor
William Maybury,
William H. Murray, and U.S. Senator
Thomas W. Palmer. As with many early car ventures, the company floundered and was dissolved in November 1901. Twenty automobiles were built and
US$86,000 of investment was lost.
History
The company was founded with a paid-up capital of $15,000. The company's primary objective was to make a profit for its investors, who had seen the
Oldsmobile plant where the
Curved Dash Oldsmobile was built, which was profitable for its owner Samuel. However, Ford did eventually produce a gasoline-powered delivery truck for the company. It received favorable coverage in a local newspaper, but wasn't without its flaws; it was slow, heavy, unreliable and complicated to manufacture.
A catalog produced by Detroit Automobile Company in 1900 showed, with a cost analysis, that the automobile was cheaper to maintain and operate than a horse and vehicle.
The Detroit Automobile Company later became the
Cadillac Company under ownership of
Henry Leland, who came in subsequently after Ford had left.
It was reorganized into the
Henry Ford Company on
November 20,
1901, after Ford gained further backing from investors because of his racing success.
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