In the January 2011 issue of Automotive Fleet magazine, the editorial staff assembled a timeline of major events throughout fleet history. The timeline begins below.
1938
- Wheels Inc. founded.
- R.A. Company established by David, Henry, & Nathan Robinson.
1946
- Lend Lease Cars, Inc. founded.
- Peterson, Howell & Heather, Inc. founded.
1948
- National Auto Auction Protective Association (precursor to NAAA) is formed.
- Automotive Rentals, Inc. (ARI) founded.
1949
- McCullagh Leasing founded.
1950
- Chestnut Fleet Rentals (CFR) founded.
1952
- LMV Leasing (Lease Motor Vehicle Co.) founded.
1945-1953
- President Harry S. Truman is president, leads the nation during a recession even as car sales continued to climb.
1954
- National Auto Auction Protective Association reorganizes and changes name to National Auto Auction Association (NAAA).
1955
- American Automotive Leasing Association (AALA) is formed.
1956
- Hertz buys leasing firm Robinson Auto Rental of Philadelphia.
1957
- Enterprise Leasing Co. founded.
- General Leasing Co. established (later known as GELCO).
- National Association of Fleet Administrators (NAFA) founded.
1959
- Wheels Inc. & PH&H install first mainframe computers.
[PAGEBREAK]
1961
- Bobit Publishing starts.
1962
- Merchants Leasing founded.
- Chrysler announces it will enter the car and truck leasing business and forms Chrysler Leasing Corp.
1963
- Chrysler is the first manufacturer to hold “closed” auction sales.
- IRS announces it is drawing up permanent regulations permitting a lessor to treat the lessee as purchaser of equipment for investment tax credit.
1964
- U.S. commits to war in Vietnam.
- GM announces seat belts will be standard equipment on all its cars.
- First-Ever NTEA Convention held.
- Studebaker ends production.
- United States Fleet Leasing, Inc. (USFL) founded as Vehicle Lease & Management Services Inc.
1965
- Donlen founded.
1966
- GM eliminates the vent window on some air-conditioned models.
- Lessors shocked as Federal Reserve ups interest to 4.5 percent from 4 percent.
- Hertz merges with RCA and becomes a wholly-owned subsidiary.
1967
- California moves violation of odometer tampering from misdemeanor to felony charge.
- GM makes available a finance plan to encourage GM franchisees to participate more aggressively in pursuing fleet business.
1969
- First AFLA meeting takes place.
[PAGEBREAK]
1971
- McCullagh and CCIC (Commercial Credit Industrial Corp.) merge.
- Congress reinstates ITC (Investment Tax Credit).
- Kerr Leasing, Inc. established.
1972
- General Leasing Co. changes name to GELCO Corp.
- GM sets up a “Fleet Distant Delivery Assistance” program to compete with the Ford Authorized Leasing System (FALS) program.
1973
- OPEC launches an oil embargo against the U.S. and other countries. The fuel shortage resulted in gas rationing, a collapse in V-8 resale values, the start of fleet downsizing, and the shift to FWD cars.
1974
- House and Senate pass bill killing seat belt ignition interlock.
1976
- AF debuts annual fleet dealer awards at the AFLA meeting.
- California Vehicle Leasing Association (CVLA), forerunner to the National Vehicle Leasing Association (NVLA), formed in California.
1977
- GELCO purchases Econo-car.
- Bobit Publishing moves to Redondo Beach, Calif. from Glenview, Ill.
1978
- Associates Leasing founded.
- IRS considers defining open-end leases as conditional sales.
- Dart Industries forms Dart Leasing.
1979
- Prime hits 14 percent.
- Second fuel crisis occurs during President Carter’s term.
- NAFA reaches milestone with 2,000th member.
[PAGEBREAK]
1980
- U.S. Customs hits import mini-pickups with 25-percent tariff.
- AF publishes first-ever list of Top 100 Business/Corporate fleets.
1981
- PH&H delivers 1 millionth car, a Ford Escort, to Digital Equipment Corp.
- PH&H recommends use of four-cylinder cars for 1982-MY.
1982
- Dart Leasing becomes Dart & Kraft Financial Corp., acquires Gables C&M Leasing.
1983
- GM begins sale of “program” cars to daily rental companies.
1984
- NAFRD established.
- GE Capital Credit Corp. purchases Kerr Leasing.
- GE Capital Credit Corp. purchases Kerr Leasing.
1985
- Fleet pioneer Sam Lee passes away.
- AF announces Jack Lamb of Exxon as first recipient of the Fleet Manager of the Year award.
1986
- Congress repeals ITC in 1986 Tax Reform Act.
- Truth in Mileage Act is signed into law.
1987
- GELCO Fleet Management Services purchased by GE Credit Corp., GE Capital Fleet Services formed.
- Bank of New England acquires McCullagh Leasing.
- D&K acquired by GE Capital Credit Corp. (GECC).
1988
- ServNet formed.
1989
- First CAFM tests given.
[PAGEBREAK]
1990
- IRS raises per mile driving rate to 25.5 cents.
- GM sells 1 millionth auction car.
- GE Capital Fleet Services acquires McCullagh Leasing.
- Ford announces driver- and passenger-side supplement air bags will be standard on Ford and Lincoln-Mercury cars starting in the mid-’90s.
- IRS issues Notice 89-110 in relation to personal use costs.
- Clean Air Act Amendments become law.
1991
- Manheim and GE Capital Auto Auctions merge to become a Manheim 46-auction chain.
- ADESA formed with a group of four auctions.
- Chrysler purchases General Rent-A-Car.
- IVECO pulls out of U.S. market.
1992
- Energy Policy Act (EPAct) of 1992 enacted.
- IRS increases per-mile rate to 28 cents.
1993
- Anglo American auto auction changes name to ADT Automotive Inc.
1994
- GSA hires ADT to remarket fleet vehicles.
1995
- OnStar founded.
1996
- President Bill Clinton vetoes proposed Luxury Car Tax repeal.
- First-ever Conference of Automotive Remarketing (CAR) held in Atlanta.
1997
- Chevrolet/GMC announce the intent to build bi-fuel pickups.
- Manheim Online sales pass $50 million.
- General Motors relocates headquarters to Renaissance Center in Detroit.
1998
- IRS rules drivers can use standard or FAVR rate.
1999
- Federal Motor Carrier Safety Administration (FMCSA) created.
[PAGEBREAK]
2000
- Manheim Online hits half-billion dollars in sales.
- Side air bag design officially proposed.
- GM suspends production of the EV1 all-electric vehicle.
- PH&H changes name to PHH Arval.
- Automotive Fleet debuts its first e-mail eNewsletter.
- LeasePlan acquires CSC.
2001
- Penske Truck Leasing Co. buys Rollins.
- First-ever Fleet Executive of the Year award announced by Fleet Financials.
- 9/11 prompts meltdown in residual values; multiple fleet events cancelled.
2002
- First-ever investigation of crash caused by cell phone occurs in Washington, D.C.
- MVRs offered online.
2003
- IRS repeals Luxury Car Tax.
2004
- GM discontinues Oldsmobile brand.
- Penske Truck Leasing acquires AMI Leasing truck portfolio.
- NJ bans hands-held cell phone use.
- PHH Arval acquires First Fleet Corp.
- PHH Arval acquires First Fleet Corp.
- Emkay acquires AMI Leasing business units.
- Tire Pressure Monitoring Systems proposed.
2005
- AALA celebrates 50th anniversary.
- Hurricane Katrina wreaks havoc and destroys approximately 20,000 fleet vehicles.
- Energy Policy Act of 2005 increases “green” vehicle tax credits.
2006
- Ford announces the end of Taurus production.
- ULSD fuel rolled out at pumps nationwide.
2007
- NAFA celebrates 50th anniversary.
- NAFA changes name to NAFA Fleet Management Association.
2009
- GM & Chrysler enter voluntary Chapter 11 bankruptcy.
- Fiat acquires 35-percent stake in Chrysler.
- Dodge splits into two brands, drops “Dodge” from Ram name.
- GM discontinues Saturn, Pontiac, and Hummer brands.
2010
- Ford discontinues Mercury brand.
- Chevrolet launches Volt.
0 Comments
See all comments