Within a decade the company led the world in the expansion and refinement of the assembly line concept, and Ford soon brought much of the part production in-house ( vertical integration). Groups of two or three men worked on each car, assembling it from parts made mostly by supplier companies contracting for Ford. During its early years, the company produced just a few cars a day at its factory on Mack Avenue and later at its factory on Piquette Avenue in Detroit, Michigan. Gray, who was chosen in order to assuage investors' fears that Ford would leave the new company the way he had left its predecessor. The first president was not Ford, but local banker John S. The Ford Motor Company was launched in a converted factory in 1903 with $28,000 (equivalent to $912,000 in 2022) in cash from twelve investors, most notably John and Horace Dodge (who would later found their own car company). This became the Cadillac Motor Company on August 22, 1902, after Ford left with the rights to his name. The Henry Ford Company was Henry Ford's first attempt at a car manufacturing company and was established on November 3, 1901. Main article: History of Ford Motor Company 20th century Founder Henry Ford c. In 2008, Ford produced 5.532 million automobiles and employed about 213,000 employees at around 90 plants and facilities worldwide. Ford Motors has since returned to profitability, and was the eleventh-ranked overall American-based company in the 2018 Fortune 500 list, based on global revenues in 2017 of $156.7 billion. During the financial crisis of 2007–08, the company struggled financially but did not have to be rescued by the federal government, unlike the other two major US automakers. The company went public in 1956 but the Ford family, through special Class B shares, still retain 40 percent of the voting rights. At the end of 2010, Ford was the fifth-largest automaker in Europe. In 2011, Ford discontinued the Mercury brand, under which it had marketed entry-level luxury cars in the United States, Canada, Mexico, and the Middle East since 1938.įord is the second-largest U.S.-based automaker (behind General Motors) and the sixth-largest in the world (behind Toyota, Volkswagen Group, Hyundai Motor Group, Stellantis, and General Motors) based on 2022 vehicle production. Ford owned the Swedish automaker Volvo from 1999 to 2010. Ford's former UK subsidiaries Jaguar and Land Rover, acquired in 19, respectively, were sold to the Indian automaker Tata Motors in March 2008. įord introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences typified by moving assembly lines by 1914, these methods were known around the world as Fordism. The company is listed on the New York Stock Exchange and is controlled by the Ford family they have minority ownership but the majority of the voting power. It also has joint ventures in China ( Changan Ford), Taiwan ( Ford Lio Ho), Thailand ( AutoAlliance Thailand), and Turkey ( Ford Otosan). Ford also owns a 32% stake in China's Jiangling Motors. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln brand. It was founded by Henry Ford and incorporated on June 16, 1903. Ford Motor Company (commonly known as Ford) is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States.
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