The American Motors Corporation, best known for creating the Jeep, was bought out by Chrysler.
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More than 80 people die in the Le Mans car race disaster.
Louis Chevrolet incorporated the Chevrolet Motor Car Company.
General Motors filed for Chapter 11 bankruptcy.
Swedish company Saab, previously known for making aircraft, produced their first automobile.
Jessi Combs broke the female fastest land speed record when her jet-powered vehicle reached a speed of 522.783 mph (841.338 kph).
