Chevrolet turns 100

Chevrolet is celebrating its 100th birthday Thursday. The iconic American brand was born Nov. 3, 1911, in Detroit.

From the Corvette to the Impala to the Suburban, it's clear Chevrolet remains a central thread in the American automobile tapestry, CBS News correspondent Debbye Turner Bell reported. 

Joel Ewanick, chief marketing officer of General Motors, told CBS News, "It's hard, when you talk about Chevy, to not tie it back to Americana, tie it back to our heritage and who we are and where we came from."

Chevrolet began when the founder of General Motors, William C. Durant, and the man whose name would become synonymous with the car -- Louis Chevrolet -- formed an automotive brand to compete against Henry Ford and his mighty Model T.

By 1927, Chevy briefly overtook Ford as the industry sales leader. Ironically, Louis Chevrolet had sold his stock to Durant only three years after the product's inception.

The rest was history. Chevrolet and Ford would battle for the next hundred years and create some of the most iconic American automobiles ever made: the 1957 Chevrolet Bel Air, 1963 Corvette Stingray, and the 1968 Camaro.

Gib and Tammy Loudon fell in love with their '68 Camaro -- and soon thereafter with each other.

Gib Loudon recalled, "So, Tammy and I went to go look at the car."

Tammy Loudon said, "I fell in love with it."

Gib Loudon added, "You know, it was a 9-year-old car, but it was fast."

They now have over 30 classic Chevys in their collection -- 22 of those are Camaros.

"It's a sickness, but there's no like help for it," Tammy Loudon said, laughing. "So, you know ... you just keep buying more."

Over the past century, Chevy has sold 209 million cars, and now sells one car every 6.6 seconds worldwide.

But for all of Chevy's triumphs, there have been bad times, as well. In the 1965 book "Unsafe at Any Speed," the 1960-1963 Corvair was highlighted because of its faulty rear suspension. The defect tarnished General Motors' image, and made a name for its author, Ralph Nader.

In the 1980s and 1990s, plagued by the rising cost of oil, foreign competition, and various design and manufacturing blunders, Chevrolet lost market share that it has never gained back.

Then the unthinkable: In 2009, General Motors filed for Chapter 11 bankruptcy -- the fourth largest in U.S. history. The American taxpayer wound up with a $50 billion stake in the company.

Ewanick, of General Motors, said, "Going through tough times -- and they were tough -- they only make you stronger. They only make you better."

Chevy hopes electricity will help lead it through the next 100 years. The Chevrolet Volt, with its plug-in electric technology, is the most fuel-efficient vehicle sold in the U.S.

But no matter what your speed or style, riding in a Chevrolet remains an American original.