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Ransom Eli Olds (June 3, 1864 – August 26, 1950) was a pioneer of the American automotive industry, after whom the Oldsmobile and REO brands were named. He claimed to have built his first steam car as early as 1887 and his first gasoline-powered car in 1896.
Olds's new venture produced the Reo, which was introduced in 1905, and its plant would turn out a record number of cars between 1905 and 1909. They also sold a runabout for around $650, and a more powerful touring car for almost twice that amount.
Volumes would soar to over 4,000 cars per year. The Curved Dash became the most popular car in the United States with nearly 40% of the car market. Curved Dashes were being sold all over the world from Europe to Asia to Australia. Other carmakers were struggling to make 20-30 cars per year and Olds was doing it in a day or two.
He sold his company in 1899 and relocated from Lansing to Detroit, renaming his company the Olds Motor Works. In 1901, Ransom designed the legendary Curved Dash Oldsmobile, the first commercially successful car mass-produced on an assembly line in the U.S. It sold for $650.
Mar 31, 2020 · Ransom Eli Olds founded the Olds Motor Vehicle Company in 1897, but sold it to an investor, Samuel L. Smith, within two years. Disagreements between the two persuaded Olds to leave the successful venture in 1904 and cash out his stock.
May 10, 2021 · Six hundred models were sold in the first year of production, with that number jumping to 3,000 in 1902. In 1904, over 4,000 Oldsmobiles were sold. This was also the first instance of production via the stationary assembly line method, which was patented by Olds in 1901. Advertisement.
In 1899 he formed the Olds Motor Works with backing from businessman Samuel L. Smith, and by 1904 5,000 Oldsmobiles had been sold. In 1904 Olds parted with Smith to form the REO Motor Car Company.
