Investment Letter from Durant Motors, Inc with the printed signature of W. C. Durant. The letter says there has been false information disseminated about Durant not devoting his tiome to the auto industry. It also refers to an offer being made by Daniel's and Company.
Durant Motors Inc. was established in 1921 by former General Motors CEO William Crapo Durant (also known as Billy Durant) following his termination by Alfred P. Sloan and the GM Board of Directors.
Durant Motors attempted to be a full-line automobile producer of cars and fielded the Flint, Durant and Star brands which were designed to meet Buick, Oldsmobile, Oakland and Chevrolet price points. Billy Durant also acquired luxury car maker Locomobile of Bridgeport, Connecticut at its liquidation sale in 1922; in theory Locomobile gave him a product that would compete against Rolls Royce and Pierce-Arrow. Durant Motors had a relationship with the Dort, Frontenac and DeVaux automobile name badges. The Rugby line was the export name for Durant's Star Car line. The Princeton, a model aimed at the Packard and Cadillac price point was planned, but never realized.
Durant also acquired numerous support companies to support Durant Motors. In 1927 the company underwent a one year production suspension, re-emerging in 1928 with Durant, Locomobile and Rugby lines in place and dropping Mason Truck and Flint automobile lines. In 1929 Locomobile went out of production.
Initially, Durant Motors enjoyed success based upon Billy Durant's track record at General Motors where he assembled independent makes Chevrolet, Oakland, Oldsmobile, Buick and Cadillac. However when sales failed to meet volumes sufficient to sustain Durant Motors holdings, the firms financial footing began to slip. As a result, Durant Motors began losing market share and dealers. The final model, produced under the Durant brand, rolled off the assembly line in 1932.
The Lansing, Michigan Durant plant on Verlinden Avenue opened in 1920. After the demise of Durant, it remained closed until GM purchased it in 1935. It restarted production for GM's Fisher Body division, later becoming the Buick-Oldsmobile-Cadillac factory. It was finally combined with another Lansing plant to become Lansing Car Assembly. That factory was closed on May 6, 2005.
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