The organization is the second largest US-based automaker. It sells commercial vehicles, automobiles, SUVs and pickup trucks. Ford is traded at S&P 100 component, S&P 500 component, and New York Stock Exchange. As of 2019, the company had around 190,000 employees, spread out across the world. It has various divisions such as Ford, Motorcraft, Lincoln. The organization has its headquarters in Dearborn, Michigan. Ford is well-known for introducing large scale manufacturing of cars to the world population. Most of the cars of the brand are luxury cars, available at premium prices. The advertising slogan of Ford Company, “Have you driven a Ford, lately?” This is a catchy line to pull more customers towards the brand.
Mission Statement:
Our mission is to strengthen communities and help make people’s lives better. Our purpose is to drive human progress through freedom of movement.
Vision Statement:
People working together as a lean, global enterprise for automotive leadership.
The Early Story Of Ford:
- Henry Ford built the experimental car in Detroit in 1896
- The earliest Ford car was assembled in 1903
- By the year 1906, Henry had acquired 58.5% of the company’s stock
- In the year 1908, the brand introduced Model T
- In the same year, the brand had its sales branch opened in Paris
- In the year 1911, Henry Ford established the first US branch assembly plant
- In the year 1913, he introduced the first moving assembly line for cars
- By the year 1914, more than 500,000 Model Ts were already on the road
- By the year 1916, it had a capital surplus of $60 million
- In the year 1922, Ford acquired Lincoln Motor Company
- By the year 1923, the company was producing more than half of US automobiles
- Ford sold around 15 million model Ts before putting an end to the production in 1927
- By the end of 1920s, the brand got 20 assembly plants in South Africa, Europe, and others
- In the year 1938, Ford introduced Mercury, a medium-priced car
- In 1941, the company signed its first contract with UAW
- In the year 1964, the company introduced Ford Mustang in New York World’s Fair
- In the year 1965, the company introduced the seat belt reminder light
Ford’s Rise To Fame:
- Ford owned Volvo from the year 1999 to 2010
- In the year 2008, the company sold 5.532 million automobiles
- In the same year, the company employed around 213,000 employees
- In 2008, the company sold its Land Rover operations and Jaguar to Tata operations
- At the end of the year 2010, Ford was the 5th largest automaker in the European continent
- In 2016, the company announced of modernizing its Dearborn engineering and headquarters
- In the year 2018, Ford was ranked 11th in the Fortune 500 list
- In 2020, due to the COVID crisis, the company partially shut down its factory in Detroit
- In the same year, the sales of the company dropped by almost 15%, to a loss of $2 billion
- In 2020, Ford Motor annual revenue was $127.144B, an almost 18.45% decline compared to 2019
Where Ford Stands Today?
- By the year 2030, Ford would go all-electric in Europe
- It also stated that by the middle of 2026, the cars would be electric or hybrid
- Ford Mustang is named as the North American utility vehicle of the year in 2021
A Famous Quote By Henry A. Ford:
“Failure is simply the opportunity to begin again, this time more intelligently.”
