Ford Success Story - Making Mobility Affordable And Accessible

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Ford Motor Company (often referred to as Ford) is an American multinational automotive manufacturer based in Dearborn, Michigan. Henry Ford created the company, which was formed on June 16, 1903. The Ford brand offers autos and commercial vehicles, whereas the Lincoln premium brand sells luxury cars.

Based on 2015 car production, Ford is the second-largest U.S. automaker, GM being the first. As per 2017 data by OICA, Ford is the fifth-largest automaker in the world, led by Toyota, Volkswagen, Hyundai, and GM. As published by carlogs.org, Ford Motor is the World's fourth-largest car company on the basis based on 2020 revenue. Ford's Revenue is projected to reach $140.80 billion in 2023. With an annual growth rate (CAGR 2023-2027) of 1.86%, the projected market volume is $151.60 billion by 2027.

The firm became public in 1956, although the Ford family retains 40% voting rights through special Class B shares.

Ford - Company Highlights

About Ford Motor Company
Ford - Industry
Ford - Founders and Team
Ford - Startup Story
Ford - Mission and Vision
Ford - Logo, Slogan, and Tagline
Ford - Business Model and Revenue Model
Ford - Employees
Ford - Sponsorships
Ford - Challenges Faced
Ford - Investments
Ford - Growth
Ford - Competitors
Ford - Awards and Achievements
Ford - Future Plans

About Ford Motor Company

Ford Motor Company is an American automaker that designs, manufactures, distributes, and serves a wide range of Ford trucks, SUVs, automobiles, and Lincoln luxury vehicles.

Automotive, Mobility and Ford Credit are the company's three segments.

The Automotive division is responsible for designing, producing, distributing, and maintaining Ford and Lincoln cars, as well as their components and accessories. Ford Mobility is a wing dedicated to innovation in the automobile sector. Ford Mobility is working in the field of designing emerging mobility services and also invests in new innovative ventures in the automobile sector. Ford mobility is also working to develop autonomous vehicles. While Ford Credit division provides automobile financing and leasing services.

Ford also holds ownership in Argo AI, a developer of autonomous driving systems, and Spin, a micro-mobility service provider.

Ford - Industry

Before the coronavirus crisis threw the globe into chaos, the automobile sector had been on an upward trend throughout 2018 and had just begun a period of stagnation in 2019. Between March and May 2020, global car sales fell by almost 15% worldwide. China was the first market to recover from the crisis, with car sales remaining at pre-pandemic levels for months after the outbreak. Electric vehicles, autonomous driving, and mobility services are expected to continue to fuel the industry, resulting in an overall rebound in the coming quarters.

Ford Motor Company - Founder

In 1903, Henry Ford established the Ford Motor Company.

Henry Ford

Henry Ford was born on July 30, 1863, in Springwells Township, Wayne County, Michigan to Mary and William Ford. While Henry was just 12, he had his own small self-built machine shop where he spent much of his time experimenting with machines. He was just 15 when he built his first steam engine.

Henry started his career as a machinist’s apprentice in the shops of James F. Flower and Brothers in Detroit(a city in the US). In July 1891, Henry joined as an engineer at the Edison Illuminating Company of Detroit and became the chief engineer of the company in 1893. During his stint at the Edison Illuminating Company, Henry ford also developed a deep friendship with Thomas Edison.

Henry Ford's automobile manufacturing journey began in the winter of 1893 when he built a modest one-cylinder gasoline model inspired by his interest in internal combustion engines. On a wooden table in the kitchen of the Ford house at 58 Bagley Avenue in Detroit, the first Ford engine flickered to life. His first vehicle, which was a frame-mounted with four bicycle wheels, was powered by a later version of that engine. The Quadricycle, Ford's first automobile, was built in June 1896.

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Ford Motor Company History

Henry Ford resigned from Edison Illuminating Company in August 1899, to start his venture. In 1899, he created the Detroit Automobile Company, which became bankrupt just within 18 months of its inception.

Leaving the firm paved the door to his achievement. “Failure is merely the opportunity to begin again, this time more intelligently,” remarked Henry Ford. With this guiding concept in mind, he tried again and established what is today known as the Ford Motor Company in 1903. He also revolutionized the automobile business by introducing the then-unheard-of ‘assembly line' for his vehicle manufacture. Ford grew to be one of the world's most successful and lucrative businesses that even managed to survive the Great Depression of 1930.

Ford is also the world's largest family-controlled company, which has been controlled by the Ford family for over 110 years. Volvo, Land Rover, Jaguar, Aston Martin, and Mercury were previously part of Ford's premium portfolio. These brands were sold to other firms over time, and Mercury was eventually phased out.

Ford - Mission and Vision

Ford's mission statement says, “to make people’s lives better by making mobility accessible and affordable.”

This mission statement emphasizes the movement of people, which is a fundamental function of vehicles and the transportation industry. The fact that Ford places such a high value on mobility reveals the company's social mission. The firm strives to make people's transportation more efficient as one of the largest participants in the international market.

Ford - Slogan, Tagline, and Logo

Ford's first slogan that was used by the company in 1914 was “Ford: The Universal Car.” Over the years Ford has tried to appeal to its customers across the world through various slogans. Some popular slogans by the company are -

• Go Further
• All-New Focus Drive One.
• Everything We Do is Driven By You
• Built Ford tough!
• Ford has a better idea
• Better Ideas. Driven by you
• Built for the road ahead.
• Have you driven a Ford lately
• Quality is Job one
• There’s a Ford in your Future.
• If you haven’t looked at Ford lately, look again.
• Build for life in Canada
• Ford. Designed for living. Engineered to last.
• The Best Never Rest.
• Answer the call to any adventure.

'Built Ford Proud' is Ford's latest slogan.

Ford - Business Model and Revenue Model

Ford's operations are divided into three categories: "Automotive," which is by far the largest, "Ford Credit," and "Mobility."

The majority of Ford's revenue comes from producing and selling automobiles to consumers. Electric vehicles and self-driving automobiles are two areas where the firm wants to increase its capabilities. Ford also makes money through its leasing and financial divisions, which provide automobile loans and lease agreements to customers.

Ford Credit is a Ford service that supplies dealerships and consumers with a variety of automobile finance options. These solutions enable dealerships to buy new inventory and expand existing capabilities, as well as provide clients with finance for car purchases and leases without having to leave Ford's business environment. In the United States, Canada, and Europe, Ford Credit is offered.

Ford's Mobility business is primarily the company's research and development division for self-driving cars and the software that goes with them. This segment generates no revenue because the company has yet to sell any of these cars.

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Ford - Employees

• Marion Harris - Board Member and Audit Committee
• Niki Doak - Vice President, Operations
• Fred Lobo - Digital Performance Manager
• Don Bunker, Pmp, Csm - Project Management Consultant
• Aakash Puntambekar - Product Development Engineer
• Aarik Kimberlin - Process Coach
• Aaron Anderson - Parts Specialist
• Aaron Bresky - Product Development
• Aaron Brunke - Product Engineering Designer
• Aaron Estelle - STA Engineer

Ford - Sponsorships

Ford Center in downtown Evansville, Indiana, and Ford Field in downtown Detroit are two major sports facilities sponsored by Ford In the USA.

Ford also sponsors many events across the globe. Ford is a major sponsor of Sky media channel's coverage of Premier League football. Ford also sponsored the UEFA Champions League for 20 years, before ending the sponsorship in 2014.

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Ford - Challenges Faced

In recent times, automobile demand in important countries such as North America and Europe, as well as China, has fallen short of expectations. These excesses have boosted prices for automakers that have ramped up their capabilities to match projected future growth, as Ford explains in its annual report. In China, for example, surplus capacity in the car sector reached 78% in 2018. According to Ford, surplus capacity will average 47 million vehicles until 2024.

The rush by automakers to tap into the enormous Chinese market has heightened competitiveness in the sector. This, along with declining demand and the growth of Chinese automakers like Chery Automobile Co. and BYD Auto Co., has put pressure on firms like Ford to maintain high prices.

The development of startups like BYD and Tesla (TSLA) has fueled demand for hybrids and electric vehicles, increasing competition and putting pressure on traditional automakers to make their vehicles more efficient and technologically advanced.

Ford - Investments

Ford - Growth

Ford - Competitors

General Motors Company (GM), Honda Motor Company (HMC), Toyota Motor (TM), Daimler (DDAIF), Tesla Motors (TSLA), Navistar International (NAV), and Spartan Motors (SPAR) are Ford's main competitors.

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Ford - Awards and Achievements

In 2022, Ford Motor Company received two awards, and 6 awards in 2021. Ford Motor Company took home the awards for Best Engineering Team 2022 and Best Global Culture 2022.

Other recent awards are as follows:

• Best Company for Diversity 2021
• Best CEO 2021
• Best Company Culture 2021
• Best Company Happiness 2021
• Best Leadership Teams 2021
• Best CEOs for Diversity 2021
• Car of the Year 2019 – Finland
• Car of the Year 2019 – Croatia
• Belgian Family Car of the Year (two price categories) – Belgium
• Irish Car of the Year awards: Small/Compact Car of the Year – Ireland
• Autobild Golden Wheels Award: Best Compact car – Bulgaria
• BusinessCar Awards: Best Lower-Medium Car – U.K.
• Parkers New Car Awards 2019: Best Small Family Car – U.K.
• 2018 Scottish Car of the Year Awards: Best Family Car – Scotland
• Auto Zeitung Auto Trophy 2018: Compact category winner – Germany
• Great Austrian Automobile Prize: Start category winner – Austria
• Entrepreneurs Car of the Year – Spain
• Czech Republic Fleet Awards 2018: Benefit category winner – Czech Republic

Ford - Future Plans

In the face of an auto sector destabilized by increased rivalry, uncertainty, and technological innovation, Ford has launched a "global redesign" to become more nimble and less bureaucratic. According to Ford CEO Jim Hackett, this revamps promises to save $14 billion in expenses by 2024.

Cutbacks
Ford eliminated about 3,000 of its paid workforce in the U.S., Canada, and India. The company was looking to lay off as many as 8,000 positions in a move to shift its focus to electric vehicles. Ford promotes the layoffs as part of its new, creative approach, but others view them as a last-ditch cost-cutting move.

Ford stated in January 2021 that it would devote 90% of its worldwide capital allocation through 2023 to a shift to trucks, SUVs, and commercial vehicles. This means that Ford will phase out sedans and other compact automobiles during the next four years.

Self-driving cars
Ford is expanding its investment in self-driving cars, as shown by its Mobility business unit. This is undoubtedly a forward-thinking move on Ford's side, but breakthrough autonomous cars are unlikely to arrive fast enough to provide the benefit Ford requires. Ford is developing its first fully self-driving car, with a cost of $2.7 billion.

Electric and Hybrid Vehicles
Ford announced intentions to invest $11 billion in electric vehicles in January 2018, much above its prior aim of $4.5 billion. By 2022, the firm hoped to have 40 electric cars on the road thanks to this investment. The rest would be plug-in hybrids, with 16 being entirely electric.

Ford has established itself as the second electric vehicle company in the US after Tesla. Since the Mustang Mach-E model debuted in late 2020, Ford has produced 150,000 of them. It intends to build 600,000 by 2023 and over  2 million EVs annually by 2026.

Conclusion

Ford is a well-established American automotive company known for producing a wide range of vehicles, including cars, trucks, and SUVs. With a history of innovation and a commitment to quality and durability, Ford has built a loyal customer base and remains a major player in the global automotive industry.

FAQs

What does Ford do?

Ford Motor Company is an American automaker that designs, manufactures, distributes, and serves a wide range of Ford trucks, SUVs, automobiles, and Lincoln luxury vehicles.

When was Ford founded?

In 1903 Henry Ford, an American automobile manufacturer established the Ford Motor Company.

Who founded Ford?

Henry Ford established the Ford Motor Company in 1903.

Which companies does Ford compete with?

General Motors Company (GM), Honda Motor Company (HMC), Toyota Motor (TM), Daimler (DDAIF), Tesla Motors (TSLA), Navistar International (NAV), and Spartan Motors (SPAR) are Ford's main competitors.

Ford company belongs to which country?

Ford is an American based in Dearborn, Michigan, U.S.