In 1911, Chevrolet, more commonly known as “Chevy,” was formed when Louis Chevrolet and three of his business partners decided to form a business that manufactured and sold luxury automobiles. Louis Chevrolet was an avid Swiss race car driver and had a visionary idea to sell models that emphasized speed and durability.
The first Chevy model that was released to the general public was known as the Series C Classic Six. Initially, Chevy automobiles came with a hefty price tag. Though slick in design, these cars were usually offered at prices that consumers considered quite expensive. There was much disagreement between the company’s overall strategies, and as a result Louis Chevrolet decided to resign from the company by selling his share to his business partner William C. Durant.
After the sale of shares to Durant, Chevrolet merged into the General Motors business and operated as a subsidiary. Ford and Chrysler became the primary competitors, and Chevy sought to increase its market share by offering lower prices. For instance, in the 1930s the Standard Six was released and was marketed as being the least expensive six-cylinder automobile. As a result of Chevy’s lower-cost leadership marketing strategy, rivaling competitors formed subsidiaries that also emphasized models that were price-competitive. For example, Chrysler set up the Plymouth business which manufactured and sold automobiles at prices similar to Chevy.
Into the 1950s and 1960s, Chevy established its dynamic presence in the American automotive market. Not only did the company continue to promote its low-cost strategy, but it also began manufacturing sports cars with the hope of appealing to a new market. One of the featured models that was released over this period was the Corvette. The Corvair was showcased shortly after, and both of these models were two-seater sports cars that had a smooth design. It is believed that through most of the 1960s, Chevy had a ten percent share in the American market.
Over the next few decades, Chevy emphasized international expansion. Today, it is believed that Chevy operates in over 140 countries. The United States remains the primary market, with Brazil, China, and Russia being listed as two, three, and four respectively. Recently, the United States government provided economic stimulus to General Motors after the company filed for bankruptcy. Though Chevy remains in business today, the company has had a difficult time competing with foreign competitors which offer more fuel-efficient vehicles. As a response, the company has been promoting and mastering the operation of the Chevy Volt. This model relies mostly on a battery power source and is known to be one of the most energy-efficient automobiles on the market.
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