He was always fascinated by machines. In 1908, before he had even learning to drive, he purchased, disassembled and then reassembled a brand new Locomobile touring car.
Walter’s first paid work as a youth involved selling calling cards, silverware and milk from the family cows door to door. He worked as a delivery boy for local grocery store one summer and again briefly after graduating from high school.
Walter P. Chrysler’s first manufacturing job was as superintendent of the Pittsburg American Locomotive plan in 1909, where he rearranged the layout to provide for ‘progressive manufacturing.
In 1916, he left General Motors where he had headed up the Buick Division. He worked many years as a consultant to firms which found themselves in financial trouble. One of them was Willys/Overland.
The roots of Chrysler Corporation goes back to 1925, when the American car manufacturer Maxwell Motor Company is reorganized into Chrysler Corporation by Chrysler. Chrysler launched its first car with the name ‘Chrysler’.
He joined Maxwell in 1921 as chairman of the Reorganization and Management Committee and by 1923 had his magic worked doubling production and converting Maxwell’s red ink into a $2.6 million profit. Walter Chrysler was named president of the new corporation as well as chairman of the broad.
Profits continued to rise for the Chrysler Corporation, from $17 million on 1925 to $45 million by 1928. In 1928, Chrysler acquired Dodge Brothers and became the third of Detroit’s Big Three automakers.
Walter P. Chrysler passed way at age 65 in 1940. Chrysler Corporation continue to expand until the late 1970s, when Chrysler’s financial condition deteriorated and it received a $1.5 billion loan through the federal Chrysler Corporation Loan Guarantee Act of 1979.
Walter P. Chrysler
