Ford Motor Company

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The Ford Motor Company is an American multinational corporation based in Dearborn, Michigan, a suburb of Detroit. The automaker was founded by Henry Ford and incorporated on June 16, 1903. In addition to the Ford, Lincoln, and Mercury brands, Ford also owns Volvo Cars of Sweden, and a small stake in Mazda of Japan and Aston Martin of England. Ford's former UK subsidiaries Jaguar and Land Rover were sold to Tata Motors of India in March 2008.

Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences typified by moving assembly lines. Henry Ford's methods came to be known around the world as Fordism by 1914.

Ford is currently the fourth-largest automaker in the world based on number of vehicles sold annually, directly behind Volkswagen.[1] In 2007, Ford fell from second to third in US annual vehicle sales for the first time in 56 years, behind only General Motors and Toyota. However, Ford occasionally outsells Toyota in shorter periods (most recently, during the summer months of 2009). As of 2008, Ford has become the second largest automaker in Europe (only behind Volkswagen), with sales that occasionally exceed those in the United States and large markets in Germany, Italy, and the United Kingdom.[2] Ford is the seventh-ranked overall American-based company in the 2008 Fortune 500 list, based on global revenues in 2008 of $146.3 billion.[3] In 2008, Ford produced 5.532 million automobiles[4] and employed about 213,000 employees at around 90 plants and facilities worldwide.[5] Starting in 2007, Ford received more initial quality survey awards from J. D. Power and Associates than any other automaker. Five of Ford's vehicles ranked at the top of their categories[6] and fourteen vehicles ranked in the top three.[7]

History

The Ford Motor Company was launched in a converted factory in 1903 with $28,000 in cash from twelve investors, most notably John and Horace Dodge (who would later found their own car company). Henry's first attempt under his name was the Henry Ford Company on November 3, 1901, which became the Cadillac Motor Company on August 22, 1902. During its early years, the company produced just a few cars a day at its factory on Mack Avenue in Detroit, Michigan. Groups of two or three men worked on each car from components made to order by other companies. Henry Ford was 40 years old when he founded the Ford Motor Company, which would go on to become one of the world's largest and most profitable companies, as well as being one to survive the Great Depression. As one of the largest family-controlled companies in the world, the Ford Motor Company has been in continuous family control for over 100 years.

Part of this article consists of modified text from Wikipedia, and the article is therefore licensed under GFDL.

References

  1. http://oica.net/wp-content/uploads/world-ranking-2008.pdf
  2. PaddockTalk. Fiesta And Focus Helped Ford Of Europe's Market Share Grow Further In April :: PaddockTalk :: F1, Formula 1, NASCAR, IndyCar, MotoGP, ALMS, And More!. PaddockTalk. Retrieved on 2009-06-18.
  3. Fortune 500 list for 2009 - based on 2008 sales
  4. Ford Motor Company / 2008 Annual Report Operating Highlights (pdf) - page 1
  5. Cite error: Invalid <ref> tag; no text was provided for refs named company3
  6. Money.CNN.com - Ford gets 5 top quality awards - 7 June 2007
  7. Edmunds AutoObserver.com - J.D Power: Ford Is a Winner - 7 June 2007
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