Ferdinand Porsche founded Volkswagen in 1937 in Germany to create an affordable car, or "people's car", for Germans. In 1938, the first Volkswagen was produced in Wolfsburg, Germany. Some of Volkswagen's major competitors include General Motors, the world's largest automaker founded in 1908; Toyota, a Japanese company founded in 1933; Ford, founded in 1903 and based in Michigan; and Honda, a Japanese engine and car company founded in 1948.