If you’re a car buff, there’s probably at least one Ford vehicle that gets your heart racing. Even if you prefer Pontiac or Chevrolet vehicles, no car lover would pass up the opportunity to own a Shelby Mustang GT500 or other classics that Ford has produced. For those who are big fans of the Ford Motor Company, there are plenty of cars, trucks, and even tractors that you can choose from when shopping for a new car or piece of farm equipment. Still, what do you really know about Ford Motor Company? You might be surprised what you have to learn about this American automaker.
The rise of Ford Motor Company
The Ford Motor Company has a long and interesting history dating back to 1903. Since 40-year-old Henry Ford first launched the company with just $ 28,000 received from twelve different investors, the company has grown into a giant. within the United States. Automotive industry. In fact, with a net income of $ 2.723 billion in 2007 and a reported total asset of $ 279.264 billion that same year, the company ranks third among US automakers. ranked first and second, Ford had five vehicles at the top of the list in the JD Power and Associates quality survey listings. Fourteen other of Ford’s vehicles made the top three of the listings, making it the most award-winning automaker on the coveted list.
What many people don’t realize, however, is that two of the twelve people who invested in the new Ford company were John and Horace Dodge, who later formed what is now known as the Dodge Motor Company.
During its early years, Ford Motor Company produced only a few cars a day. In a factory located in Detroit, Michigan, groups of two or three men assemble the vehicles after receiving the necessary components from other companies. Subsequently, Ford introduced assembly lines in its factories and used mass production strategies to accelerate the production of its cars. It also paid high wages to its workers and was one of the few companies that managed to survive the Great Depression.
The Ford Motor Company today
Although it has been more than 100 years since Henry Ford first opened the doors of the Ford Motor Company, the company remains family-owned and continues to produce vehicles under the Ford name. However, it also makes vehicles under other names. In the United States, for example, Ford products are also manufactured under the names Lincoln and Mercury. However, the company does not operate solely in the United States, as it has significant manufacturing operations in several other countries. These include:
– Argentina
– Australia
– Brazil
– Canada
– Germany
– Mexico
– People’s Republic of China
– South Africa
– Turkey
– United Kingdom
Ford has also owned other makes of vehicles in the past. For example, it bought Aston Martin in 1989, but then sold it in 2007 while retaining a $ 77 million stake in the brand. The company also bought Volvo Cars in 1989, as well as 33.4% of Mazda’s controlling shares. Ford also owned Land Rover and Jaguar, but sold them to Tata Motors in 2008.
In addition to manufacturing vehicles and tractors, Ford Motor Company also sells aftermarket parts under the name Motorcraft and has a parts division called Visteon. The company also provides auto financing to car buyers through its Ford Motor Credit Company.
The future of Ford Motor Company
On January 23, 2006, Ford Motor Company unveiled its The Way Forward plan. The plan provided details on what the company planned to do to become profitable again, which was a concern that had plagued the company for more than a year as gas prices skyrocketed and consumers began to lose interest. in buying their big, gas-guzzling vehicles. . As part of the plan, fourteen factories were closed and 30,000 people lost their jobs.
The company now plans to invest in new products that will allow it to better compete in the market, which includes the development of more crossover SUVs, hybrid vehicles and compact cars. Therefore, those who love Ford vehicles can expect to see many new and exciting developments on the horizon.
