Automobile Industry
Nash co-founded Buick Motor Company with David D. Buick and William C. Durant, and in 1908 became Buick's president and general manager.
In 1910, he was hired as general manager of General Motors (GM). He took over a debt-ridden company suffering losses and increased profits to US$800,000 as early as 1911 to over $12 million by 1914, as well as secured the firms financial footing. However, his reluctance to pay dividends to shareholders resulted in Nash being voted out of his position in 1915.
Nash, who took control of General Motors in 1910 from William Durant, was now fired by him when Durant regained control in 1916.
Nash then resolved never again to work for someone else. He bought out the Jeffery Motor Company in August 1916. In 1917, renamed it as Nash Motors. The 1917 Nash Model 671 was the first vehicle produced to bear the name of the new company's founder. The new company was successful, with sales totaling 31,008 trucks and cars by 1919.
In addition to running Nash Motors, Charles Nash was also president of the luxury car company LaFayette Motors until that company was bought out by Nash Motors in 1924.
Read more about this topic: Charles Williams Nash
Famous quotes containing the words automobile and/or industry:
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