Ford Motor Company
The Ford Motor Company is a legendary US car company and the world's third largest automaker (based on vehicle sales). After creating one of the greatest manufacturing innovations in history, the assembly line, Ford Motor Company went on to establish a presence throughout the globe and adopt some of the world’s most famous car brand names. Ford has its headquarters in Dearborn, Michigan, employs approximately 280,000, and is the seventh-ranked US based company on the 2007 Fortune 500 list. It is also the largest family owned company in the world.
History and Holdings
Ford Motor Company (NYSE:F) was founded in 1903 with initial investment from (among others) John Dodge and Horace Dodge, who would later create the Dodge Motor Vehicle Company. During its early years, Ford produced the history-making Ford Model T, which was only the first among many very famous names associated with Ford automobiles; within three years of introduction, more than half of the cars on the road were Model Ts.
From these inspiring beginnings, Ford Motor Company went on to manufacture cars under numerous brand names including Lincoln, Mercury, Edsel (1958-1960) and Merkur (1985-1989). Other essential Ford creations are the Taurus, which was the best selling US car for a good part of the 1990s; F-series pick-up trucks, which have led US pick-up truck sales for the past thirty years; and the Mustang and Thunderbird, which created almost a cult following as muscle cars. The Mustang sold 2 million units within two years of its introduction in 1964.
Ford has also acquired many highly regarded global brands, including Jaguar and Land Rover of England, Volvo of Sweden, and a one-third controlling interest in Mazda of Japan. Ford has major manufacturing operations in North and South America, Europe, Australia, China, Russia, and South Africa.
Ford also manufactures and sells commercial trucks, buses, and tractors, as well as after-market parts under the Motorcraft brand name and home appliances under the Philco brand name. As with many other major car manufacturers, Ford maintains a presence in various types of auto racing.
Ford Today
Ford continues to adapt to the increasing challenges of the modern car market. Ford has ceased production of the Taurus, while Lincoln and Mercury are being thoroughly re-engineered. The company is also introducing a line of Crossover SUVs which use more economical and fuel efficient unibody construction instead of body-on-frame truck chasses.
Moreover, Ford is developing a new breed of engines to deal with rising expectations for fuel consumption and emission control. Many of Ford's alternative fuel and high efficiency vehicles, such as the Escape Hybrid, have met with critical approval and consumer popularity. The company is also creating plug-in hybrids, fuel cell-powered electric powertrains, and hydrogen-fueled internal combustion engine technologies.
