Ford Motor Company

This company was launched into the world market in 1903 by Henry Ford at the age of 40. Ford Company manufactures very popular and widely bought vehicles all over the world. Initially, the company rented a factory in Detroit, Michigan and only made a few cars for sale. The cars manufactured at the time were given letters like Model A built in 1903. Model T became a symbol of the United States automobile industry era.

At the Piquette road manufacturing plant, the company made the first model T. Due to high levels of demand, around the year 1909 when 18000 Ts were produced the company had to shift base to a larger factory for it to meet the growing needs of customers. 70,000 Model Ts were produced in 1911 a figure that rose to 170000 the following year. Ford Canada was founded in 1904. Other plants for the assembly of Fords vehicles were opened in Ireland in 1917 while others in Germany, Denmark, England, France, Argentina, and Austria launched in early 1920s.

This was part of the company’s objective of market expansion to reach new markets and meet the growing levels of demand. In the year 1913 the company had already introduced into the market the first moving assembly line. This reduced the time for chassis assembly and the number of cars made rose to over 202,000. By the year 1919, Ford cars accounted for 50% of the cars in the U.S and 40 % of those manufactured in Britain. It was during this year when Edsel the son of Henry took over as the president of the company. Though the company was able to produce efficient vehicles at low prices, the automobiles were not of good customer satisfaction. This lead to losing of market share to Chrysler and General Motors that were offering a variety of reasonably priced cars with comfort and luxury options for customer satisfaction.

Lincoln motor company was acquired by Ford in 1922 to build on its luxurious vehicles. By 1927, the company introduced a mechanism of credit agreements whereby customers were able to purchase cars on a pay- monthly agreement. During this time, Model T was retired, and model A was revamped. Ford suffered during the time of the great depression as vehicle demand fell, and many workers lost their jobs. In 1945, the eldest grandson Henry was made president and it later became a traded company in 1956. Ford family members retained about 40% of the business’s controlling interest. When Henry Ford died in 1947 the company did not collapse but it re-established to keep its reputation as the leading car manufacturer in the world.

Thunderbird was launched in the market in 1950s while the Mustang came later in the 1960s. Ford Motor Company has over the years grown to be a leading car manufacturer of a variety of cars depending on the changing vehicle needs of its customers.