“By The middle of The 1920s General Motors had accomplished some things, but apart from survival and reorganization, they were more in the realm of the mind than of reality. We knew, as I have related, the strategy with which we proposed to approach the car business, how we proposed to manage the enterprise financially, and the relationships we wanted to establish among persons in different roles. But by the end of 1924 little of this was reﬂected in Our activities in the automobile market. That our volume of business had increased after the slump of 1921 — and especially in 1923 — could be attributed less to our own wits than to the improvement in the general economy and the rising demand for automobiles. While internally we had made much progress, externally we had marked time. But the time had come to act.”

— Alfred P. Sloan

Source: My Years with General Motors, 1963, p. 149

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Alfred P. Sloan 47

American businessman 1875–1966

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Alfred P. Sloan 47

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