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rant re-entered the automotive industry the following year by co-founding the Chevrolet Motor Company with Swiss race car driver Louis Chevrolet (who left the company bearing his name in 1915). In 1916 GM was reincorporated in Detroit as General Motors Corporation. By 1917 the Chevrolet Motor Company had become successful enough that Durant, with the backing of Samuel McLaughlin and Pierre S. du Pont, reacquired a controlling interest in GM. Chevrolet Motor Company was consolidated into GM on May 2, 1918. Only two years later du Pont orchestrated the removal of Durant once again and replaced him with Alfred P. Sloan.Sloan established annual styling changes, making previous years' models "dated". He also implemented the pricing strategy that all car companies use today. The pricing strategy had Chevrolet, Pontiac, Oldsmobile, Buick, and Cadillac priced from least expensive to most, respectively.General Motors grew in prominence surpassing Ford Motors selling just over 50% of car sales in 1962.General Motors also manufactured products other than cars and trucks, such as aircraft (North American Aviation), construction equipment (Terex), trains (Electro-Motive Diesel), Farm tractors (Samson Tractor/Janesville Machine Co.), Truck and boat engines (Detroit Diesel and Allison Engine Company, and appliances (Frigidaire).Chapter 11 bankruptcyFurther information: General Motors Chapter 11 reorganizationChevrolet Suburban, the longest continuous production automobile nameplateGeneral Motors filed for a government-backed Chapter 11 reorganization on June 8, 2009. On July 10, 2009, the original General Motors sold assets and some subsidiaries to an entirely new company, including the trademark "General Motors". Liabilities were left with the original GM, renamed Motors Liquidation Company, freeing the companies of many liabilities and resulting in a new GM.Through the Troubled Asset Relief Progr am the United States Department of the Treasury invested $49.5 billion in General Motors and recovered $39 billion when it sold its shares on December 9, 2013, resulting in a loss of $10.3 billion. The Treasury invested an additional $17.2 billion into GM's former financing company, GMAC (now Ally). The shares in Ally were sold on December 18, 2014, for $19.6 billion netting $2.4 billion. A study by the Center for Automotive Research found that the GM bailout saved 1.2 million jobs and preserved $34.9 billion in tax reven