preview

Ford Motor Company : An American Manufacturer Of Automobiles Headquartered

Better Essays
Open Document
Ford Motor Company, is an American manufacturer of automobiles headquartered in Dearborn, Michigan and is comprised of about 181,000 employees. With 65 plants worldwide that span over six continents, Ford Motor Company has retained its title as the best selling U.S. brand for three years straight since 2012, according to Forbes. In fact, Ford Motor Company sold approximately 6,330,000 vehicles at wholesale around the world in 2013. By 2020, the company projects its annual global sales to increase between 45% to 55%, equivalent to approximately 9.4 million vehicles. In addition, Ford opened its third assembly plant in Chongqing, China, which became Ford’s largest manufacturing location outside southeast Michigan (corporate.ford.com). Ford…show more content…
Ford Credit is a wholly-owned subsidiary, which offers automotive financing products to and through automotive dealers throughout the world. It earns its revenue primarily from the payments made under retail installment sale and lease contracts that it generates, and purchases payments made under dealer financing program. Ford Credit does business in the United States and Canada through business centers. Outside of the United States, Europe is Ford Credit’s largest operation. Other Financial Services includes a range of business, including holding companies and real estate. Ford Motor Company was founded by Henry Ford in 1903. Due to the high profit it generated in the first few months after they incorporated the company, it planted its first international subsidiary in Canada in 1904. By 1919, Henry Ford established Ford Motor Company as a family business by making himself, Clara Ford, and Edsel Ford the sole owners of the business. To balance out the simple and affordable cars that Ford produced, Ford then purchased Lincoln from his former business associate in 1922, which added a more opulent side of the company as Lincoln branded themselves as a car manufacturer that focused on producing luxury cars of historical and aesthetic note. In 1938, Edsel Ford launched Mercury to market entry-level luxury cars slotted between Ford-branded regular models and Lincoln-branded luxury vehicles. By the mid 1950’s, Ford became a publicly traded company; its
Get Access
Related
Get Access