In 1932, after Cadillac suffered from record low sales and charges of discrimination against black customers, Alfred Sloan created a committee to consider the discontinuation of the Cadillac line.
At a fateful board meeting, Cadillac president Nicholas Dreystadt heard that legendary boxer Joe Louis could not go into a dealership to buy a car, because he was black, and resorted to having a white friend make the purchase for him.
Dreystadt gave the GM Board of Directors a 10 minute speech in which he advocated advertising to black consumers so as to increase sales. The Board agreed to give Dreystadt 18 months to produce results.
By 1934, Cadillac had regained profitability. It is significant to note that after this decision, Cadillac was the only American automobile manufacturer to remain profitable during the Great Depression.
By 1940, Cadillac sales had risen 1000% compared to 1934, thus saving Cadillac from extinction.