May 7th 1952
James J. Nance resigned form his position at Hotpoint, an appliance maker to become the president and general manager of the Packard Motor Company. There he was responsible for development of Packard's first V8 engine and automatic transmission popularly known as Ultramatic.
May 7th 1967
Don Prudhomme, then 26, popularly known as
'The Snake' drove a modified Ford to became the first dragster to run the quarter mile in less than seven seconds when he reached 226 mph at the NHRA World Series.
May 7th 1998
Dana Holding Corporation announces its participation in the largest-ever merger of automotive suppliers by its acquisition of Echlin Inc.
May 7th 1998
Daimler-Benz AG agreed to buy Chrysler Corp. for $38 billion, new company named Daimler Chrysler.