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Ford Motor Company is one of the most famous multinational automaker. It was founded by Henry Ford and was incorporated on June 16th, 1903. Henry built his first gasoline powered vehicle which he called the Quadricycle in a workshop behind his home in 1896. He made two unsuccessful attempts to start an automobile manufacturing company before 1903.
The company sells automobiles and commercial vehicles under the Ford brand and most luxury cars under the Lincoln brand. Ford is the second largest US based automaker and the fifth largest in the world. The story of Ford Motor Company is an inspiring tale that reintroduces the successful American dream. With values surrounding excellent products and open communication, the decade old Ford Motor Company has survived some of the most traumatic downturns of the last century. It has risen as one of the most successful automotive companies in the world. The current president & CEO of the company is Jim Hackett.
The company deals with the manufacture of automobiles, luxury vehicle, commercial vehicles and automobile parts. Ford is one of the biggest companies on the basis of manufacturing producing a huge amount of 6.6 million vehicles per year. The current revenue of the company is more than $150 billion. The company currently has around 213,000 employees at around 90 plants and facilities worldwide.
Ford Motors has been through a lot of ups and downs in the company’s tenure. Today, it is one of the leading brand in the market but a combination of seamless effort and hardwork was required to reach here. At the time of depression, company faced a lot of issues with the stocks going down below the value. The economic threat faced by the company was worse. The company had gone through a lot and has gained vital experience to learn from the past events. This has helped Ford to plan accordingly for the future to get good profits and better outcomes.
The company was founded in June of 1903 when owner Henry Ford based operations in Dearborn Michigan. This was not Henry Ford’s first introduction into the automotive industry as he had previously had ties to the Detroit automobile company that would be reorganized into the Henry Ford Company only to be bought by Henry Leland in 1902 to then be renamed once again to Cadillac. Ford Motor Company would be incorporated in 1903 with a total of 12 investors making up 1000 shares for the entire company.
The company started production with the Ford Model A and when the vehicle went up for sale the company had a total of $223 in the Ford bank account. The entire company rested on the success of the Model A, Ford and with its success Ford would go on to produce a total of 1750 vehicles through 1903-1904 with a starting price of $750. Vehicles such as the Model K and Model S would follow with limited success.
Ford would introduce their next model known as the Model T that started out being manufactured in a rented facility with parts that were made to order. In the first year of manufacturing of the Model T, 18,000 vehicles were delivered. With rising sales numbers the Ford Motor Company was in need to streamline its production process therefore creating the first assembly line for manufacturing.
The Model T would become one of the most iconic vehicles and be produced each year by the Ford Motor Company until 1927. In 1932 Ford would introduce their first V-8 engine used in their Model Y in hopes to regain fledgling sales but in 1933 Ford would drop to the third-largest auto manufacturer behind Chrysler. The the company was now in third they still managed to build their 25-millionth vehicle by 1937. In 1941 Ford Motor Company would start production of military hardware in order to help out the war effort. It was also in this time that Ford had facilities in Germany and would lead to scrutiny as Henry Ford was noted to be in close collaboration with the German government.
In 1943 Edsel Ford would lose his battle with stomach cancer receiving leaving the now elderly Henry Ford to run the company. This proved to be a liability for the company so much that Henry Ford’s family had to work in order to let Henry Ford relieve his position with Ford Motor Company thereby passing it to his grandson Henry Ford II. In 1954 Ford would introduce the iconic Thunderbird which would draw in much attention to the company. In 1956 Ford would offer up common stocks, 10.2 million shares are sold the first day.
This amount of stocks being sold would represent a 22% stake in the company. The beginning of the 1970s proved to be profitable times for Ford. There were mishaps such as safety and quality concerns over the Ford Pinto they would reflect negatively on the company. It was a in the year 1973 when Ford reached its highest production numbers throughout its company history as it produced 2.3 5 million vehicles and started its Asia division.
Through several economic perils as well as the oil crisis caused many issues with American auto manufacturers and would cause them to downsize their vehicles for the sake of efficiency. It was in 1979 that Ford acquired a 75% stake in the Mazda Company. Mazda at the time had the ability to produce more efficient vehicles.
The 1980s proved to be successful years for the Ford Motor Company as they would introduce several vehicles around the world. Notably the 1985 Ford Taurus and Aerostar were deemed radical by design yet went on to be widely accepted by the general public. In 1988 the Ford Motor Company’s worldwide earnings reached an all-time record for the auto industry at $5.3 billion. It was around the same time Ford acquired Aston Martin and Jaguar. During the 1990s the Ford Motor Company would introduce such popular vehicles such as the Explorer.
In the years to come Ford would also begin selling vehicles in China where it would establish over 150 dealerships by 2005. Ford would continue through the 90s as well as the 2000s with its company focusing on engineering. It was in 2007 when the Ford Motor Company found itself needing to reorganize its holdings in companies such as Aston Martin, Land Rover and Jaguar. These companies were sold off in 2007 and 2008 as well as Ford’s holdings in Volvo and 2010.
Ford is leading the way in technology and innovation. In a tough automobile market, the company operates efficiently to surpass the competitors. The recent innovations such as the Human Machine Interaction have been a landmark. The HMI was introduced to develop a sense of understanding or tuning between the car and the individual.
It helps the driver to efficiently drive the vehicle with all the present technologies. The R&D department of the company is functioning beautifully. The research plants which are constructed in many countries have some tremendous employees and well trained engineers. The overall structure of the cars produced by the company is brilliant.
The stylish and strong exteriors are very well coordinated by the interiors which are interactive and constitutes of a number of options. Ford has improved the driving experience. The Steering Wheel along with the LCD screen in front of the driver has been upgraded wonderfully. It has access to a number of features. This helps the driver to concentrate on the road without worrying a lot about changing or managing functions.
The other innovations by the company constitute of the new and upgraded Drivers Assistance system, the installation of safety bags for prevention during accidents, the Installation of new LED and taillights for sleek and stylish outlook. Ford is also working towards its electric cars project. The Hybrid, Plug-in Hybrid and Electric Vehicles introduced by the company are fuel efficient.
They also reduce the overall cost of ownership and improves on-road performance of the car. Ford also took various initiatives in power consumption and saving. For instance, it announced PC power management system which it developed with NightWatchman software from 1E. The company is expected to save $1.2 million on power cost and reduce carbon footprint by an estimated 16,000 to 25,000 metric tons annually when the system is fully implemented.
Ford has set a very high level in the car industry. The new technology and constant improvement in different aspects of the car is commendable. It has received high success in the market and has reached an all high in the car market.
The company which faced tough times during the outrageous world wars has finally become a giant. There are a number of features that makes a Ford car stand out in the market. Be it the polishing exteriors, the improved and classy interiors, the magnificent lights or the supportive and efficient wheels. Following are top models which helped the company to gain high amount of fame in the market:
It is inevitable that the interior build quality of Ford has gone up from time to time. The improvement in different versions and the constant innovative additions have increased the quality of Ford. It has also increased the overall speed of the vehicle in the newer models of the car.
The competitors have constantly tried to overcome the loss of sales that they face due to the increase in interior quality of Ford. Keeping this in mind, unlike its competitors Ford designs supercars which are more efficient, faster, reliable, and durable and perform better. The outer build quality has also gained steady improvement. The interior parts of the new car are well managed and developed.
The top models of Ford possess 6 safety airbags. This, along with other safety mechanisms are installed in the cars. The build of the cars is sturdy and the cars don’t feel like any light weighted machines. Ford cars are known for their strong build quality and good engine quality and every model excels in that aspect. Maintaining this feature should be one of the main objectives of the company.
Ford has been in the automotive market for a long time. Since its inception, the company has always faced tough and good times with great motivation and supremacy. Ford created a cycle of consumerism that we still exhibit today. It has changed the entire world and the structure of the car industry. Further, it has also improved the status of US companies in the car market.
Ford cars are one of the most purchased cars in the entire world. The owner Henry Ford once quoted that, “It is wiser to recognize that the future holds more than the past- that every day holds within it an improvement on the methods of the day before.” The company has followed this motto and we all have seen the continuous improvement that Ford has introduced in the market.
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