From 1919 to 1929, many dramatic changes took place. General Motors went into a financial crisis that lasted until after Alfred Sloan became president in 1923. Hudson produced the Essex in 1919 that, by 1925, had propelled the company to third in total sales behind Ford and Chevrolet. Ford was in the process of building a new plant, buying back stock, and began an 18-month process of tooling-up to replace the Model T with the Model A in 1927. In 1921 Maxwell failed and Walter P. Chrysler, formerly of General Motors, was brought in to reorganize it and, in 1925, the Chrysler Corporation was formed. With Ford out for a period, Chrysler was able to produce and market the low-priced Plymouth in 1928, and bought out the Dodge Brothers, also in 1928, resulting in "The Big Three" in the United States.