Partner Article

A potted history of the delorean car company!

The story began in April 1973, when John Zachary DeLorean unexpectedly resigned from his role as General Motors’ vice president of car and truck production. It was a shock move, considering he was tipped for the top of GM
The company was founded in 1975 in Detroit
It was built to provide jobs and prosperity in divided northern Ireland
To do this he went to the british government asking for £77 million of the taxpayers money
The Delorean DMC-12 commonly referred to as ‘the delorean’ as this was the only model the company built
Approx 9,000 were built and nearly all were sold 6,500 are still alive
The lack of demand, cost overruns, and unfavorable exchange rates began to take their toll on DMC’s cash flow in late 1981
In the end, sufficient funds could not be raised to keep the company alive
To try and keep the company alive he went to the british government for another £10 million in the end he only got £5 million!
The DeLorean Motor Company went bankrupt in late 1982 following John DeLorean’s arrest in October of that year on drug trafficking charges
On the market you should be able to pick one up for about $20,000