Ford Auto company is one the oldest US automakers in the industry. Operating for a century, it is the only auto company in the US that has survived the great depression, world wars, and other catastrophic events without going bankrupt. Sadly, Ford is at a crossroads in the current times.
Since it does not have a significant international presence, and other emerging companies such as Tesla are making a mark in the US auto market, it is fair to say that Ford is struggling to keep up. Nevertheless, when you look at the prospects, along with the company’s historical significance and legacy, Ford will likely not only survive but become a promising car company of the future.
History of Ford
Henry Ford is one of the most influential figures of American history. As an industrialist, he made sure to have a transformative impact on the country. At a very young age, He became obsessed with technology. Starting with repairing watches, his interest grew into steam engines and eventually gas engines.
In 1889, he worked on a gas engine himself and soon recognized the vast advantages of a gas-powered engine. Leading to his creations of internal gas engine prototypes that were gas-powered horse carriages and not exactly cars.
After many prototypes, Henry Ford started his own company in 1899, called the Detroit Automobile company. This venture had financial backings from many elite Detroit investors of that time. This company was where Ford created the first car prototypes, or “delivery wagons,” which served businessmen in the Detroit region.
However, Henry Ford could not manage to deliver the investors on time. Thus, he was kicked out of his company as he only had 15 percent of its share. This did not stop him from his efforts. He focused on making it useful to the average person and not a luxury racing tool.
As his production line catered to the average person, and people could afford the automobile at a reasonable price, Ford slowly became one of the greatest car manufacturers in the nation. By 1918, half of all cars in the United States were Ford’s all-new Model T’s.
The Future of Ford
Ford was facing a dodgy situation in the midst of 2018. However, with the CEO changes, there seems to be a glimmer of hope for the company. The new CEO, Jim Farley, urges to take quick control and move things ahead significantly.
These steps are taking fruition, as Ford’s entry into the EV sphere promises lasting success. Its long-time successful truck, F150’s and its rendition to an electric vehicle is a venture that is set to increase its sales significantly. Other Ford models have also done incredibly well, and their prospects like Robot-taxi service, partnership with Google, and the new line of EV cars hint at a bright future.