The monument was designed in 1975 when the master plan for the Auto Factory District (Russian: Автозаводский район, Avtozavodsky rajon) of Tolyatti was created.
The sculptures are stylized representations of three modes of transport extant at the turn of the 20th century: a paddle-wheel steamboat, a steam locomotive, and a hot air balloon.
"The First Steamboat" is composed of readily recognizable elements of a ship: hull, mast, yards, sails, anchor, flag, and so on.
The sculptures are made of iron (forged, cast, and welded) on massive reinforced concrete pedestals and limestone slabs.
In 2011, due to failure of diligence on the part of the Tolyatti municipal government, the land on which the sculptures stand was found to have passed to private ownership.
The mayor's office, in the fall of 2014, included the sculptures in the Tolyatti's beautification program of iconic and socially significant places, so that rather than being destroyed they will be enhanced.