subject: A quick delve into the story behind the well-known US automobile company, Ford [print this page] A quick delve into the story behind the well-known US automobile company, Ford
Founded by 12 investors in 1903 contributing $28,000, two of which were the Dodge brothers, John and Horace, who later created their eponymous brand. In this year, Ford also created their first vehicle - the Ford Model AC.
After this, Ford grew and grew, eventually becoming the automotive behemoth that it is today, however, it has not been without negative aspects causing setbacks and problems for the company. Following below are the five major points in the history of Ford Motor Company, as generated by the leasing firm www.centralcontracts.com.
1896-1903: In 1896, the Ford Quadracycle is created as Henry Ford's first vehicle, on the frame of a buggy and supported by 4 bicycle wheels. 1898 - he creates the Detroit Automobile Company, but two and a half years later it was dissolved. In 1901, Ford wins a high-profile race and afterwards the Henry Ford Company is assembled but is later discontinued the following year. In 1903, Ford Motor Company is fully created.
1906-1919: By 1906, Ford Motor Company becomes the best-selling make for the US, with a healthy production amount of 8,700 vehicles. In 1909, Ford Motor Company England, or more commonly, Ford Britain, is created and aims to target the UK market. After two years, to cater to UK demand, Ford open a factory in the Manchester region to speed up sales and ease production. Edsel Ford takes presidency of Ford in 1919.
1929-1945: 1929 - Annual production of Ford motor cars peaks at 1.5 million cars, dominating the automotive market, confidently knocking Chevy off the top spot. Ford create a general purpose jeep designed for military use in 1941 and the pressed metal grille that was used on the front of the model is still in use today. Two years later in 1943, Edsel Ford dies of cancer, whilst Henry Ford takes presidency once again, until 1945, when his grandson and son of Edsel, Henry Ford II takes over.
1947-1989: Henry Ford II adopts position of chairman, following the death of his grandfather, in 1947. A decade later, Ford launched the Edsel brand of automobiles and sees a major increase of vehicle production to 1.68 million. In 1960, the newly appointed US Secretary of Defense is appointed as President of Ford. In 1967, Ford set up Ford of Europe to secure further market prominence. The firm also takes around a quarter of Mazda in 1977, followed by, in 1987, acquiring Aston Martin Lagonda and Hertz Rent-a-Car. Jaguar were also acquired by Ford in 1989.
1999-2010: Great grandson of Henry Ford, Bill Ford becomes chairman of the Board and acquires Volvo car division in 1999. In 2000, BMW sell Land Rover to Ford. Six years following, Ford begin a restructuring program, closing unprofitable factories - Alan Mulally is also elected president and CEO. In 2007, Ford report company losses and sell Aston Martin, Jaguar and Land Rover. Despite this, Focus leasing at the company Central Contracts has become such a popular choice.
With the recent restructuring program and a continued brand trust, the firm will move into profit again and regain their popularity; although, regardless of what happens, it is undeniable that this is an important vehicle brand that has cemented its place in automotive history.
