HotWheels History

In 1968 the American toy company 'Mattel' issued a line of 16 models going by the name of 'Hotwheels.' The line was similar to the well established British firm 'Matchbox' in the way that it produced models of free-wheeling cars. However, that is where the similarities ended. The 'new-genertion' Hotwheels cars were fast-moving, free-wheeling, stream-lined cars! Most of the early models in the 16 model line-up were fantasy custom cars created purely for looks. It was not until 1969 that Hotwheels released a scale model of the 1969 Corvette. The market for Hotwheels continued to thrive until 1971 putting it's rival company 'Matcbox' in despair. 1972 was not such a good year, but still continued to sell at a profitable rate...

From 1973 Hotwheels continued to bring out few models each year and phased out the unpopular models and ones that proved expensive to make. Mattel continued to manufacture the low-cost models which enabled them to bring out up to 12 new-castings a year.

1982 saw an increase in the market all over the world for the miniature Hotwheels castings due to McDonald's influence on trends on the market. The large resturaunt company offered a free model with every 'Happy-Meal' which in turn, pumped millions of dollars back into the Hotwheels firm. Manufacturing cost were also cut that year by moving the factories from Hong-Kong to Malaysia. Soon after factories sprung up in Mexico and France to make the models more widely avalible on the European and American markets. Production was increased to release a set of 50 models per year.

From the early 80's through to the mid 80's the firm continued to run. These years paid no particular importance to the History of Hotwheels and few models were released. The first Hotwheels convention was held and commemorotive book was issued. These years also saw a short lived Kellogs promotion.

In 1988 a limited number of silver and chrome models appeared on toy store shelves to celebrate Hotwheels' 20th anniversary.

1990 saw a Hotwheels cereal and a model crudely based on the simpsons cartoon.

1993 saw a set of popular models re-released to commemorate the 25th annivesary.

In 1995 the now legendary Treasure-Hunt series was released particularly appealing to collectors. Only 10,000 castings were made of each model, and they all sported high-quality rubber tyres. They were also covered in elaborate paint work and were distributed at random to stores worldwide.

1997 was a big year for Mattel. The company it had threatened to kill off 29 years ago, 'Matchbox,' had finally gone into receivership and Mattel took it over. The brand name, 'Mattel Wheels' featured on all Tyco RC (the previous owner of 'Matchbox'), Matchbox itself, and Hotwheels packaging to show they were all of the same brand name. The issuing off this logo ceased in 1998.

1998 saw the 30th anniversary and 40 new castings were issued. A new wheel type was also brough over from the matchbox range. 5 years later in the year 2003 Hotwheels celebrated it's 35th anniversary and teamed up with columbia pictures to make a movie. The company coninues to thrive and is now doing better than ever...