Chevrolet, colloquially known as Chevy and formally the Chevrolet Motor Division of General Motors Company, is an American automotive division founded on November 3, 1911, by Louis Chevrolet, Arthur Chevrolet, and William C. Durant. Durant utilized Chevrolet Motor Car Company to secure a controlling stake in General Motors through a reverse merger on May 2, 1918, regaining the GM presidency. Following Durant's second ousting in 1919, Alfred Sloan, guided by the principle of "a car for every purse and purpose," positioned Chevrolet as the volume leader within the General Motors family. By 1929, Chevrolet surpassed Ford's Model T, becoming the best-selling car in the United States with the Chevrolet International, offering mainstream vehicles that competed effectively in the market.