Mercedes-Benz History: The Mercedes-Benz is the oldest, continuously produced, automobile make in the world. Karl Benz and Gottlieb Daimler were competitors until they merged in 1926 and then they agreed that each could produce vehicles under their own name. Daimler adopted the three-pointed star logo because his engines were used in land, air, and sea applications and Benz agreed to keep the logo with minor changes. Benz is credited with inventing the worlds first true internal combustion gasoline engine in 1885 and then he built the "Benz Patent-Motorwagen" in 1886. Gottlieb Daimler and his partner Wilhelm Maybach were granted a patent for a similar engine and built their first vehicle during the same period. In 1958 Daimler-Benz made a deal with the Studebaker-Packard Corporation to market their vehicles in the U.S. and when Studebaker closed its doors in 1966 their dealers had the option to become Mercedes-Benz dealers. Daimler-Benz merged with Chrysler to become DaimlerChrysler in 1999 and became part of the Cerberus Capital Management Company in 2007.