Henry Ford had an engine running by 1893 but it was 1896 before he built his first car. By the end of the year Ford had sold his first car, which he called a Quadracycle, for $200 and used the money to build another one. With the financial backing of the Mayor of Detroit, William C. Maybury and other wealthy Detroiters, Ford formed the Detroit Automobile Company in 1899. A few prototypes were built but no production cars were ever made by this company. It was dissolved in January 1901. Ford would not offer a car for sale until 1903.