The Ford Motor Company
The Ford Motor Company was founded by Henry Ford in 1903. The company was first motivated with $28000 from twelve investors. The company was initially established as The Henry Ford Company on November 3, 1901, which became the Cadillac Motor Company on August 22, 1902. The company’s first product was launched in 1903. During those early years, the company produced just a few cars a day at its factory on Mack Avenue in Detroit, Michigan. The first model introduced to the market in 1908 was named T model. The production of trucks and tractors was started in 1917. In 1925 Ford purchased the Lincoln Motor Company in order to enter into luxury cars market. In 1950s Ford produced one of its successful cars named as the Thunderbird. The company established Ford Europe in 1967 on the continuation of its global expansion policy. During the 1970s and 1980s, Ford continued to develop with more acceleration into Europe and Asia.
In 1990s, Ford sold so many cars in America due to low fuel prices, and ascending stock market situation. Consequently Ford acquired Jaguar in 1990, Hertz in 1994, Kwik-Fit and Volvo’s passenger vehicle in 1999. During 2000, Ford developed its Visteon automotive components branch, and by the end of that year, the company bought Land Rover from BMW. In 2002, Ford decided to expand its presence in china, so the Changan Ford was established as collaboration with the Changan Automobile. Because of its expansion policy in Asia, the Ford Services Thailand became operational in 2003. By 2004, Cosworth, Ford’s motor sport technology engineering company, Jaguar Racing, and its Formula One team were sold. In the same year, the company introduced two new models; the Ford Expedition King Ranch, and the 2005 F-series Super Duty. During 2005 Ford Company was forced to recall some of its product due to some malfunctions such as Expedition and Navigator SUV’s. For instance, there were about 792000 recall including pickup trucks and sport utility vehicles because of a fire risk from overheating of the speed control switch. In the meanwhile, the company’s investments increased drastically. This was consisted of regaining the Visteon’s twenty-three North American facilities equipments in order to support its products. It also sold a minority interest in the Beanstalk Group, its subsidiary the Hertz Corporation, its interest in Mahindra & Mahindra, and Vastera. The company also exchanged its 8.3 million shares in Ballard Power Systems for an equity interest in NuCellSys which was half owned by DaimlerChrysler.
In 2006, the economy situation led to falling market shares, declining sales, and sliding profit margins, so the company borrowed about $25 billion, and by the end of the year it faced with a $2.7 billion loss which was largely related to finance restructuring at Volvo. During 2008, Ford sold Jaguar and Land Rover to Tata Motors. In this year, Ford like some other car manufacturing companies requested financial aid from government because of the automotive industry crisis. In 2009, Ford announced $14.6 billion loss, while the company claimed that government aid is no longer needed.
1903: Henry Ford incorporated with 11 original investors to sign articles of incorporation for Ford Motor Company in Michigan. From there, 1,708 Ford cars are produced.
1906: 8,729 Ford cars are produced and it becomes top selling brand in United States.
1908: Ford introduces “Model T”, which is one of the most popular cars in the world. Ford Model T production ended in May 1927 and the total production was 15,458,781.
1909: Ford Motor Company was established in England, referred as Ford of Britain. The first factory was opened in Manchester England during 1911.
1921: Ford production exceeds 1 million cars per year (which Mini has exceeds it during Mini MK1 generation) and it has become next biggest selling brand.
1925: It is a big explore year that Ford introduces Ford Tri-Motor airplane for airline services.
1927: Ford Model T production officially ends and Ford introduces Model A.
1932: Ford introduces the one-piece cast V8 block which makes the automobile industry a big changes until today it has used in a Ford Mustang.
1941: Ford begins to manufacture general-purpose “jeeps” for the U.S. military.
1949: Ford introduces the “Woody” station wagon.
1956: Ford goes public with common stock. 10.2 million shares sold in the first day, representing 22% of the company.
1964: Ford Mustang and Ford GT40 was introduced as super cars.
1968: Ford Lincoln Mark Series was introduced as Ford’s luxury cars.
1974: Ford Mustang II / second generation of Ford Mustang were introduced as a smaller and more economical colt car.
1975: The famous Ford F150 was introduced.
1979: Ford successfully acquires 25% of stake in Mazda.
1987: Ford acquires 75% of Aston Martin Lagonda.
1988: Ford’s worldwide earnings were $5.3 billion, the highest of any auto company to date.
1989: Ford spends $2.5 billion to acquire Jaguar Cars. Maza MX-5 Miata is unveiled.
1990: Ford Explorer was introduced as sport utility vehicle, and it has become the nation’s best-selling SUV model.
1992: Ford buys 50 percent of Mazda Motor Manufacturing and changes that company’s name to AutoAlliance International.
1993: Ford opens its first dealerships in China. Its brand sales in China increased 46 percent in 2005. By the end of 2005, the number of Ford dealers in China totaled 150, up from 100 in 2004.
1995: Ford’s first front wheel drive V8 sedan is introduced, the 4.6L V8-powered Lincoln Continental.
1996: Ford increases investment stake in Mazda Corporation to a controlling interest of 33.4%.
1997: Ford sells the first taxicabs run on natural gas to New York City.
1998: Ford Focus was introduced in Europe.
1999: A smaller sporty Mercury Cougar is reintroduced with front wheel drive.
2000: Ford purchases Land Rover brand from BMW. Lincoln LS and Jaguar S-Type are introduced, along with a refreshed Ford Taurus and Mercury Sable. The Lincoln LS becomes the 2000 Motor Trend Car of the Year.
2001: Ford Motor Company recalls 13 million tires and Bridgestone/Firestone dumps Ford as a customer, saying Ford was using the tire maker as a scapegoat to deflect attention from problems with the Ford Explorer.
2002: Lincoln Continental is discontinued after a roughly fifty year run. Jaguar X-Type is introduced (first AWD Jaguar).
2003: it is Ford Motor Company’s 100th Anniversary. The new Ford GT is released along with limited Centennial editions.
2005: Ford’s new gas-electric hybrid SUV, the Mercury Mariner, goes on sale.
2005: Ford announces it will transfer $2 billion to shore up Jaguar Cars, which it bought in 1989 for almost $3 billion in today’s prices.
2005: Ford loses market share for the 10th year in a row, and also loses its place as America’s best-selling brand to GM’s Chevrolet. Ford sold around 2.9 million vehicles in 2005 for a 17.4 percent market share – down from a market share of 18.3 percent in 2004 and of 24 percent in 1990.
2006: Ford announces it will cut up to 30,000 jobs and idle 14 plants by the year 2012.
2007: Ford reports losses of $12.7 billion for 2006. Ford Edge and Lincoln MKX introduced.
2008: Ford sells Jaguar and Land Rover to Tata Motors.