Henry Ford once said, “I will build a motorcar for the masses…constructed of the best materials, by the best men to be hired, after the simplest designs that modern engineering can devise…so low in price that no man making a good salary will be unable to own one and enjoy with his family the blessing of hours of pleasure in God’s great open spaces.” Firstly, Henry Ford created new technology that nobody has ever seen before. Secondly, Henry Ford created the model T that was the first car ever to be created. Thirdly, Henry Ford was the first man that created the assembly line. Henry Ford changed the way we look at transportation forever this is why he should have a memorial built in his honour. Henry Ford created new technology that nobody has ever seen before.
Henry Ford spent most of his life making headlines, good, bad, but never indifferent. Celebrated as both a technological genius and a folk hero, Ford was the creative force behind an industry of unprecedented size and wealth that in only a few decades permanently changed the economic and social character of the United States. When young Ford left his father's farm in 1879 for Detroit, only two out of eight Americans lived in cities; when he died at age 83, the proportion was five out of eight. Once Ford realized the tremendous part he and his Model T automobile had played in bringing about this change, he wanted nothing more than to reverse it, or at least to recapture the rural values of his boyhood. Henry Ford, then, is an apt symbol of the
The automobile changed technology for a lifetime. It introduced the assembly line which led to mass production of cars. In 1921 there were one million cars produced. The last main idea in the chapter, at least in my opinion is how they talk about city vs. country living. Henry Ford came from a farming family.
Olympic purchased new cars, rented them to customers for 15,000 to 30,000 miles(approx. a period of 8 months to 1 ½ years) and then sold them to retail(60%) and wholesale markets. External: Industry analysis Slow growth rate after a decline in 2009, when total market revenue fell 6.5% from 2008. In 2012, there were 1.6 million rental cars in service, 0.5% fewer than in 2009 but higher than in 2010. Matured market size of $24 billion, with a projected 2% annual growth rate.
Credit gave people time to pay off the cost of the product. Henry Ford was the first factory owner who believed that if he payed his workers more they would be happier and work would be superior, he raised their wages to $5 a day. In 1925 having industrious workers Ford was able to create an assembly line, for his Model T cars, to be built every 24 seconds. This mindless and fast repetitive work rather than the slow work by skilled craftsmen was less expensive for factory workers and allowed for an increase in affordable consumer goods. Scientific management and time-motion studies created a greater knowledge of production.
Ford set off at the age of sixteen to the nearby town of Detroit, Michigan to work as a machinist apprentice during this time he was introduced to the small combustion engine. In 1882, Henry finished his apprenticeship and was a full fledge machinist. After three years he went back home working only part time for Westinghouse Engine Company, which hired him to demonstrate steam engines on nearby farms, and in his spare time he worked at his machine shop he opened on his family's property. During the winter months he would work in his shop building steam engines. Henry believed that machines could be developed to make farming easier.
Ford steadily lost market share to GM and Chrysler, as these and other domestic and foreign competitors began offering fresher automobiles with more innovative features and luxury options. GM had a range of models from relatively cheap to luxury, tapping all price points in the spectrum, while less wealthy people purchased used Model Ts. The competitors also opened up new markets by extending credit for purchases, so consumers could buy these expensive automobiles with monthly payments. Ford initially resisted this approach, insisting such debts would ultimately hurt the consumer and the general economy. Ford eventually relented and started offering the same terms in December 1927,when Ford unveiled the redesigned Model A, and retired the Model T after producing15 million units.
Key History Henry Ford, with his passion and vision for the automobile industry in 1903 founded Ford Motor Company. Ford is based out of Dearborn, Michigan and first started off in 1899 as Detroit Automobile Company, which unfortunately quickly failed. This failure did not discourage Ford, shortly after the failure of Detroit Automobile, Ford founded the Ford Motor Company on June 16th, 1903 which was and to this day is also based in Dearborn Michigan. Henry Ford in 1908 then introduced to the world the Model T. The Model T was a success due to the affordable price, consistency, and efficient production. This allowed for Ford to sell over 15 million vehicles and make them a major part of the automobile market share.
Dodge and Ford: Analysis of light duty pickup truck market The half-ton pickup market in north America is has been dominated by the Ford f series trucks for over 20 years. In this period there has been a constriction of the consumer base, rising cost of compliantly products, significant shift in consumer demographics, and numerous new market entrants into the market place. Ford had met all of these challenges and continues to be the market leader. In this paper we will review what helped Ford secure it is position as the dominate market force compared to Dodge’s Ram product offering, the third strongest competitor by sales volume. To help understand the market we will review the history of the products and complete a pestel analysis of the North American pick up industry.
This meant that people had one specific job on the production line that they repeated over and over so they became very good at this one job, this meant that the T-ford model could be produced every 10 seconds. Henry For could then sell these cars for much a cheaper price than before because it used to take blacksmiths hours to produce a single car. This mass production also provided many people with jobs. People felt that they could buy cars at this cheaper price and therefore more cars were bought, putting more money into the economy. The car industry also helped the economic boom because more people could move near to cities without actually living in the centre of them and then drive into the cities to work and earn money.