A brief history of the Ford Motor CompanyThe Ford Motor Company had its beginnings a little over 100 years ago in a converted factory, bought by Henry Ford for $28,000 and located in the same Detroit suburb where he was born some 40 years earlier. Since then, the company has enjoyed success on an epic scale; cornering markets, employing thousands and consuming rival firms at a rate few of its competitors could match. What follows is a brief history of the firm: its track record as a business; its notable personalities; and its visions for the future, all courtesy of the team at Hoot Car Insurance Services. Ford's business empire
Ford, currently the world's third-largest car manufacturer after Toyota and General Motors, is a giant even among other multinational companies. Each year, it makes around $160 billion in revenue. In 2006, it produced 6.6 million vehicles; employed 280,000 workers and ran about 100 plants and facilities across the globe.
The company headquarters are in Detroit, Michigan - where they've been since Ford's foundation in 1903 - but its global operation extends to countries as far flung as Mexico, Canada, the People's Republic of China, Brazil, Argentina, Australia, Germany and even the UK. Ford also owns (or has a controlling stake in) a large number of other auto manufacturers and marques. These include Jaguar, Land Rover, Lincoln, Mazda and Volvo. Surprisingly, given this vast business empire, the past few years have not been kind to Ford. The company has been losing ground to its rivals in the US market since 1995, and the combination of rising fuel prices and employee healthcare costs have destroyed the booming profit margins of the early 90's. In fact, Ford accountants have reported a net loss of over $12 billion in 2006, and further loss-making is anticipated in 2007 and 2008. Personalities
The stand-out figure in Ford's history is of course Henry Ford himself - the firm's founder, inventor (or at least patron) of the first modern-day assembly line, father of his own philanthropic business model (Fordism) and die-hard family man.
Born in 1863, Ford waited until he was 40 to found the company that would make him one of the richest and most famous men in the world. A prolific inventor (he was awarded 161 US Patents in his lifetime), it was Ford himself who designed the first automobile to be built in his Detroit factory. It was also Ford who set the wage scale at $5 a day in 1914 - more than double what most engineering jobs were then paying. The financial incentive to work at Ford meant that the firm could pick and choose a highly-skilled, highly-motivated workforce, at a time when most other business were experiencing poor morale and a high staff turnover. Until then, most factory-workers couldn't actually afford to buy the products they were making - but soon all Ford's employees were driving about in Model T's. The concept of paying high wages became the basis of 'Fordism', Ford's own economic philosophy and one of the key secrets of his success. It was quickly taken up by many of America's other big businesses, and survived as the pre-eminent business model until the Great Depression. The other secret of Ford's success was the aforementioned assembly-line. Based, gruesomely enough, on the 'disassembly-line' in a Chicago abattoir, it meant Model Ts could be produced at the unprecedented rate of one every three minutes. Though much of his fortune went to charity after his death in 1947, Henry Ford also made sure that his relatives were well-provided for. Control of the company has stayed in the family to this day, meaning the Fords have been running Ford for over 100 years. Future plans
In the face of rising fuel prices in many of its key international markets and the increasing eco-friendliness of today's motorists, the emphasis for Ford's current R&D programme is on mpg scores, neutralising emissions and other 'green' concerns.
Take for instance the 'HySeries Drive' featured on one of Ford's recent concept cars, the Ford Airstream Concept. It's a battery-powered engine that can be charged using hydrogen fuel cells, giving a petrol-equivalent fuel economy rating of 41mpg. Coming from a car that looks like a cross between the A Team van and Robbie the Robot, that's pretty impressive going. Ford's other great green project is the so-called 'Model U', a car built wherever possible from plant-based and other renewable materials rather than conventional plastics and metals. Unveiled as part of the company's centenary showcase and hailed as 'the Model T of the 21st century', the Model U also features a modular interior, allowing for accessories and seating to be reconfigured or swapped in and out of the vehicle as the driver desires; sophisticated speech-recognition technology; and night-vision to help avoid potential accidents after dark. The benefits of Hoot Car Insurance Services
Starting with the Model T, Ford's products have always been the yardstick against with rival cars are measured and, frequently, found wanting. But if you're looking for the same high standards in Ford car insurance, look no further than Hoot Car Insurance Services.
Our motor insurance provides a rock-solid standard of cover at prices which could save you 30 percent over the competition. Hoot can do this because we don't waste money on advertising, high street shops or any other unnecessary expenses. So if you're looking for an unbeatable motor insurance quote for your Ford, just click below.
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