1924, "A Car for Every Purse and Purpose"
Alfred Sloan explained his famous market segment strategy of "a car for every purse and purpose" in the 1924 annual report to shareholders. Sloan divided the U.S. vehicle market into segments by price range. Each GM brand’s products was to be focused on one segment, with Chevrolet at the low end of the market and Cadillac at the high end. With rival Ford Motor Company sticking to a single model in a single segment (the low-end Model T), GM soon overtook Ford as the sales leader in the U.S. market.