Mercedes-Benz cars have led the industry in quality and innovation. The German car manufacturer built the world’s first diesel powered car in 1936. As a result of its innovations, the company’s hood ornaments and logo have become an iconic symbol.

It was on this day, December 30th, in 1988 that Mercedes-Benz paid $20.2 million for failing to meet government fuel standards.

Mercedes-Benz’s first car was created by Karl Benz. The first petrol-powered car, called the Benz Patent Motorwagen, was patented by Benz in 1886. Later that year, Gottlieb Daimler converted the stagecoach to include a petrol engine with the help of engineer Wilhelm Maybach. The Mercedes-Benz brand name, however, was not introduced until 1926.