Ford Motor Company

Ford Motor Company is an American automaker and the world`s fifth largest automaker. Located in Dearborn, Michigan, Ford was founded by Henry Ford on June 16th, 1903. Ford Motor Company would go on to be one of the largest and most profitable companies in the world and one of the few to survive the great depression. Ford Motor Company has been under continuous family control for over 100 years. Ford Motor Company now owns several other brands including Lincoln and Mercury, and also a small stake of Mazda in Japan and a small stake of Ashton Martin in the UK. Henry Ford initial introduction into vehicle manufacturing was with the Detroit Automobile Company, founded in 1899. In 1901 the name was changed to the Henry Ford Company. Ford had a falling out with his bankers and left the company with the rights to its name and 900 dollars. The company then changed its name to Cadillac. Henry Ford then went to his friend, coal dealer Alexander Y. Malcomson, to help get another automobile company. He put up money and they started Ford and Malcomson and then they started to design a car and order parts. Then the company they ordered parts wanted payment. Malcomson went to his uncle, a banker, and asked him for money. His uncle was hesitant but then decided to when Malcomson said he could withdraw his share at any time. Malcomson then got other businesses to invest. At the first stockholder meeting on June 18th, Gray (Malcomsons Uncle) was elected president, Henry Ford was elected vice-president, and James Couzens was elected secretary.

Ford Motor Company was immediately profitable. Malcomson left the company in 1906 and Gray died unexpectedly and then Henry Ford became the President of Ford Motor Company. Henry Ford`s first car produced was the Ford Model A (1903). The next year Henry Ford produced the Model T. Earlier models were produced at a rate of only a few per day. They worked out of a rented factory on Mack Avenue in Detroit, Michigan. Only two or three men worked on each car. They used components made to order from other companies. The first Model Ts were assembled at the Piquette Road Manufacturing Plant, the first owned factory. As the demand for the car grew, they were forced to move the production of the car to the Highland Park Plant. In 1909 there were 18000 Model Ts. In 1911 there were 69762 Model Ts, and the number kept increasing. In 1920 the production of the Model T would increase to over one-million per year. Henry Ford also invented the assembly line in 1913. Is reduced the assembly time from 12.5 hours to 2 hours and 40 minutes, then to 1 hour and 33 minutes. The innovations of the company was hard on the employees. The turnover of workers was very high, and the increased productivity decreased the labor demand. In January of 1914, Henry Ford solved this problem. He increased pay to 5 dollars a day and he cut shifts from nine hours a day to eight hours a day. The blue Ford Oval first appeared on the 1928 Model A. It was the first vehicle to sport the Ford symbol. In 1919 Edsel Ford succeeded Henry Ford in running Ford Motor Company. Henry Ford then died in 1947. When Edsel died in 1943 Henry Ford resumes presidency. The when Henry Ford died Henry Ford II became the new chairman.