Business Essay

348 WordsNov 12, 20082 Pages
Executive Summary: Brief History: In 1903, Henry Ford transformed the American automobile industry forever. In order to produce cars in an expeditious fashion, Ford introduced the moving assembly line which allowed him to fulfill his goal of producing cars for the masses, leading to his multi-billion dollar car brand. In the early years of Ford, its Michigan based company gradually produced line of moderately priced cars that were named in accordance to the alphabet – for example, the first car was titled “Model A” while its best selling and best known series was the Model T series which saw success from 1908 until 1927. After having appealed to the masses in an economic fashion for twenty-two years, Ford Motor Company sought to expand into the luxury automobile market by purchasing Lincoln Motor Company and truly entered into full market coverage when the company introduced the mid-priced car line, the Mercury. Presumably Ford’s greatest hit was the Thunderbird and in the sixties the Ford Mustang, which is still outselling competitors even in 2008 due to its low price, stylish interior and exterior, and the powerful, appealing V8 engine. Due to the changing preferences of drivers in the seventies and new government regulations, Ford began to suffer minimally however was able to redeem its success with its introduction of the Mazda. Mazda brought global competitiveness to Ford and created a new strength in the company as it expanded its empire to include Jaguar and Aston Martin Brands. In the 1990’s Ford was successful in their rising popularity with the Explorer midsize SUV and in 1999 increased their car division with Volvo. Increased competition in the new millennium caused a decrease in sales for Ford causing the brand to sell Aston Martin, Jaguar, and Land Rover in order to recuperate from their losses. Currently Ford is attempting to make its way back

More about Business Essay

Open Document