Ford Motor Company is an American multinational car manufacturer headquartered in Dearborn, Michigan. It was founded by Henry Ford and registered on June 16, 1903. The company sells cars and commercial vehicles under the Ford brand, and most luxury cars under the Lincoln brand. In addition to the Ford Mustang, car brands that have historically been part of Lincoln include Lincoln Continental, Lincoln Mark Series (discontinued), Lincoln Zephyr (discontinued), Continental Mark Series (discontinued), Cougar (discontinued), Mercury Marauder (decommissioned), Edsel Corsair (decommissioned), Versailles (only produced for the 1974 model year)
The former UK Ford subsidiaries Jaguar Cars Ltd., Aston Martin Lagonda Ltd and Land Rover were sold to the Indian company Tata Motors in March 2008. Ford was the owner of the Swedish car manufacturer Volvo from 1999 to 2010. In 2011, Ford ceased production of the Mercury brand, under which it had been selling luxury entry-level cars in the United States, Canada, Mexico and the Middle East since 1938.
It also has a subsidiary, Ford Motor Credit Company.
Henry Ford’s first attempt to create an auto company under his own name was to found the Henry Ford Company on November 3, 1901, after amassing approximately 2,800 shareholders. The following year, he launched the Model A, and within two years he had a fleet of mass-produced cars with fully replaceable parts. The company quickly grew to over 200,000 cars and trucks by 1908. The company was sold to the Ford family for $ 250,000 in 1905 and bought back for $ 207,000 in 1906. Henry Ford led his workers on a strike on January 1, 1941, as part of a sympathetic strike across all factories, which halted production nationwide until February 8, 1941.
The Model T was the first vehicle to be produced on the assembly line, and its production changed the world standards of the automotive industry. Henry Ford’s dehumanizing policies led to public outcry after reports of laborers dying while assembling cars. The most common cause was safety issues caused by large, heavy windshields. Ford initially denied these reports, but as more and more ex-employees shared their experiences, the company was forced to address them publicly
Today, Ford’s reputation is a highly recognizable trademark that applies to many of its subsidiaries’ products. In the 1980s and 1990s, the company launched popular vehicles such as the Taurus and the Mustang, both of which today have a solid fan base. In 2004, Ford celebrated the 100th anniversary of its production by producing a DVD series documenting the company’s history throughout the 20th century. The Taurus became one of the best-selling sedans in North America, with over 1 million units sold between 1991 and 2000.
Ford recently released a completely new line of hybrid vehicles. The first of its kind is the 2010 Ford Fusion Hybrid, a mid-size sedan that offers a choice between the standard 2.5-liter four-cylinder engine and an electric motor powered by lithium-ion batteries. In 2009, the company merged with the small luxury car maker Aston Martin. Under Ford ownership, the British carmaker will grow and gain access to new technologies such as hybrid vehicles.
Ford is expected to return millions of dollars in rebates and tax breaks to buyers of its 2009 cars and SUVs thanks to a $ 5 billion stimulus plan to purchase alternative fuel vehicles. Ford has announced it will be offering monetary incentives to those who buy hybrids as part of an attempt to boost sales. Ford also announced that the company is building a $ 550 million assembly plant in Mexico that will initially employ 2,800 people. As part of its recovery plan, Ford has decided to shut down factories in Belgium and Canada by 2013, although it has no plans to shut down plants in other regions.
Ford recently acquired electric car maker Rivian, which will help the company in its quest for electric and hybrid vehicles. The combined company, which has yet to be named, will produce affordable mid-size SUVs and pickups. Ford and Rivian are expected to release the specific vehicle within five years and then plan for future models based on this production platform.
Ford generated $ 187.7 in 2018 and is the second largest U.S. company listed on the stock exchange after Apple. It also shows a profit of $ 6.8 billion, one of the highest margins in its industry for any car maker. In 2018, subscriptions for Ford’s sales and services grew 18% year-on-year.
Ford unveiled a new electric vehicle that will be launched in 2022. The company is investing 6 billion in electric cars, including building hybrid versions of trucks. Ford has signed a deal with Volkswagen to share the cost of developing vans, pick-ups and utility vehicles.
