Chrysler was founded by a man who had a reputation for saving foundering companies. Walter Chrysler rose from the ranks to become the president of Buick. He resigned from his position and was hired by Willy’s Overland Motor Company to supervise the rehabilitation of its ailing operations. He did a similar job by turning around the Maxwell-Chalmers Company. In 1925, he purchased Maxwell’s assets to form the firm that still bears his name - Chrysler Corporation. Aside from the Chrysler marque, the Plymouth and DeSoto marques were created to cater to the low priced and medium priced ends of the market, respectively. Chrysler acquired The Dodge Brothers Motor Company and by spinning off Imperial as a separate luxury brand in 1955, Chrysler has assembled a five-brand lineup to compete with General Motors, which has a similar offering.

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