Henry Martyn Leland, a former gunmaker and engineer for Ford and Oldsmobile, founded Cadillac in 1902. Specializing in precise craftsmanship and using standardized parts, Leland built a four-cylinder Cadillac 30 in 1909 and made his company successful enough that it was purchased by General Motors soon after. In 1915, Cadillac's powerful, smooth and reliable straight-eight engines set the standard for large ultra-luxury cars. A few decades later, pricey V12 and V16 engines were introduced, but fared poorly during the Depression years. The V8s, however, remained popular. Despite some periods of uncertainty, revisions and technical innovations over the years have ensured Cadillac's popularity and reputation as a luxury marque to this day.