Monday, July 6, 2009

Profile : Ford Company

Ford Motor Company was found in 1903 by Henry Ford, and is considered one of the oldest automakers in the world.

Ford's original dream was to manufacture cars for the masses. One of the company's innovations was the development of the moving assembly line which is still used to this day. Such technology allowed millions of Americans to purchase the now famous Model T in early 1900s.

Ford purchased Lincoln Motor Co. in 1925 then, later, create its Mercury marque in 1939 as it fought to match rival General Motors' Cadillac and Buick lines and Chrysler's Imperial (now defunct) and Chrysler brands. The Edsel, briefly, was its own marque as well.

Ford created the Premier Automotive Group, or PAG, in the late 1990s-early 2000s. The luxury group consists of Aston Martin, Jaguar, Land Rover, and Volvo. For years, Lincoln was part of PAG until it was pulled out in 2002.

Ford purchase controlling shares of Mazda in 1999.

The automaker's history has been punctuated with highs and lows. The 1950's Ford Thunderbird success was countered by the Edsel's spectacular failure among buyers. The Ford Mustang created what are now known as "pony car" and "muscle car" subgenres. The Ford Taurus, first introduced in 1985, was one of the top three selling mid-sized sedans until 1997. And many attribute the Ford Explorer as the beginning of the "SUV craze" that's only recently transitioning to crossovers.

Intense competition from Japanese automakers, gas prices, government regulation, and consumer taste has driven down Ford sales since 2000. The company is currently embarked on its "Way Forward" program, countering market share loss with new products such as the Ford Fusion sedan and Edge SUV; the return of the Taurus nameplate; and the closure of many U.S. plants.

No comments:

Post a Comment

Need more anything..??