Ford Motor Cars:
The Ford Motor Company is an American multinational automaker that has its main headquarters in Dearborn, Michigan, a suburb of Detroit. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand and most luxury cars under the Lincoln brand. Ford also owns Brazilian SUV manufacturer Troller, an 8% stake in Aston Martin of the United Kingdom and a 32% stake in Jiangling Motors. It also joint-ventures in China (Changan Ford), Taiwan (Ford Lio Ho), Thailand(AutoAlliance Thailand), Turkey (Ford Otosan), and Russia (Ford Sellers). The company is listed on the New York Stock Exchange and is controlled by the Ford family; they have minority ownership but the majority of the voting power. Ford Motor Cars
Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences typified by moving assembly lines; by 1914, these methods were known around the world as Fordism. Ford’s former UK subsidiaries Jaguar and Land Rover, acquired in 1989 and 2000 respectively, were sold to Tata Motors of India in March 2008. Ford owned the Swedish automaker Volvo from 1999 to 2010. In 2011, Ford discontinued the Mercury brand, under which it had marketed entry-level luxury cars in the United States, Canada, Mexico, and the Middle East since 1938.
Ford is the second-largest U.S. based automaker (behind General Motors) and the fifth-largest in the world (behind Toyota, VW, Hyundai-Kia and General Motors) based on 2015 vehicle production. At the end of 2010, Ford was the fifth largest automaker in Europe. The Company went public in 1956 but the Ford family, through special Class B shares, still retains 40 percent voting rights. During the financial crisis at the beginning of the 21st century, it was close to bankruptcy, but it has since returned to profitability. Ford was the eleventh-ranked overall American-based company in the 2018 Fortune 500 list, based on global revenues in 2017 of $156.7 billion. In 2008, Ford produced 5.532 million automobiles and employed about 213,000 employees at around 90 plants and facilities worldwide.
Henry Ford’s first attempt at a car company under his own name was the Henry Ford Company on November 3, 1901, which became the Cadillac Motor Company on August 22, 1902, after Ford left with the rights to his name. The Ford Motor Company was launched in a converted factory in 1903 with $28,000 in cash from twelve investors, most notably John and Horace Dodge (who would later found their own car company). The first president was not Ford, but local banker John S. Gray, who was chosen to assuage investor’s fears that Ford would leave the new company the way he had left its predecessor. During its early years, the company produced just a few cars a day at its factory Mack Avenue and later its factory on Piquette Avenue in Detroit, Michigan. Groups of two or three men worked on each car, assembling it from parts made mostly by supplier companies contracting for Ford. Within a decade, the company would lead the world in the expansion and refinement of the assembly line concept, and Ford soon brought much of the part production in-house in a vertical integration that seemed a better path for the era.
In May 2017, Ford announced cuts to its global workforce amid efforts to address the company’s declining share price and to improve profits. The company is targeting $3 billion in cost reduction and a nearly 10% reduction in the salaried workforce in Asia and North America to enhance earnings in 2018. Jim Hackett was announced to replace Mark Fields as CEO of Ford Motor. Mr. Hackett most recently oversaw the formation of Ford Smart Mobility, a unit responsible for experimenting with car-sharing programs, self-driving ventures and other programs aimed at helping Ford better compete with Uber, Alphabet inc. And other tech giants looking to edge in on the auto industry.
On April 25, 2018, Ford announced that it will discontinue passenger cars in the North American market in the next four years, except for the Mustang, due to declining demand and profitably. The Focus Active, a crossover SUV based on the newly-unveiled fourth-generation Focus, was also intended to be marketed in the United States. Due to the vehicle being manufactured in China, Ford later announced that it would not release the Focus Active in the United States, due to the tariffs imposed by the Trump administration on Chinese exports.
Members of the Ford board as of October 2018 are Stephen Butler, Kimberly Casiano, Anthony F. Earley, Jr., Edsel Ford II, William Clay Ford Jr.(executive chairman), Jim Hackett(president and CEO), William W. Helman IV, William E. Kennard, John C. Lechleiter, Ellen Marram, John L. Thornton, John Veihmeyer, Lynn Vojvodich, and John S. Weinberg.
Ford Motor Company Fund:
The Ford Driving Skills for Life program is a driver safety program aimed at teens that were developed together with the Governors Highway Association and Safety experts. The Ford volunteered Corps allows Ford employees and retirees to sign up for volunteering on local projects in more than 40 countries. The Ford Fund invests $18 million annually in education in the United States and around the world, but accepts application only from nonprofit organizations registered in the U.S. Education programs and scholarships include; Anal Mulally Engineering Scholarship, Ford Blue Oval Scholars program, Ford College Community Challenge (Ford C3), Ford Driving Dreams Tour, Ford Fund/ Detroit Free Press Journalism Scholarship, Ford Next Generation Learning (Ford NGL), Grants to Individuals Programs, HBCU Community Challenge, Smithsonian Latino Center Young Ambassadors Program, and William Clay Ford Automotive Design Scholarship.
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