British Leyland was a vehicle manufacturing company formed in the United Kingdom in 1968 as British Leyland Motor Corporation Ltd (BLMC). It was partly nationalised in 1975 with the government creating a new holding company called British Leyland Ltd which became BL Ltd (later BL plc) in 1978. It incorporated much of the British owned motor vehicle industry, and held 40% of the UK car market, with roots going back to 1895.