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Companies that vanished: DeLorean Motors -- a look back at the future

This post is part of a series on some of the most memorable companies that have disappeared.

Don't we all remember the DeLorean Motor Company? To those that were market watchers or just fascinated auto industry types in the 1980s, you'll remember the DeLorean. Many of us remember the car used in the Back To The Future films, which was the trademark stainless steel DeLorean. The DeLorean Motor Company was formed in 1975 by auto executive John DeLorean, whose stainless steel, gull-wing door sports car model became the image for the entire company.

John DeLorean, who became the youngest executive ever at General Motors Corp. (NYSE: GM) before launching his own auto company, was known as a capable engineer and businessperson. The DMC-12 sports car, which was stainless steel and thus all looked alike (could not be painted) suffered from lack of actual demand, even with a huge amount of publicity. In 1982, the DeLorean Motor Company went into receivership and bankruptcy as a result, just seven short years after being formed. Some 2,500 jobs and over $100 million in various investments went down the drain when the DMC went out of business in 1982.

In 2007, businessman Stephen Wynne said that he had purchased many parts use to make the original DMC-12 car and would soon be making them again due to demand. The culture around the DeLorean DMC-12 has really never died away, and Wynne's interesting take on building more of them is testament to that. Even before Wynne's announcement, there were 6,500 of the original 9,000 original DMC-12 cars still estimated to be on the roads to this day -- a remarkable feat for a car now 25 years old.

Let us know in the comments what you miss about DeLorean. And be sure to check out other Companies That Have Vanished.

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Last updated: July 06, 2009: 06:27 AM

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