Ford Motor Company is a multibillion-dollar business that sells millions of cars each year.
The American car company is behind fan favorites such as popular pickup trucks, the sporty Ford Mustang and comfortable SUVs like the Explorer and Escape.
The Ford Company began more than 100 years ago by a man named Henry Ford. Today, the company has maintained its success and status as one of the world’s top automakers.
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- What did Ford call his first car?
- What is the story behind Ford’s creation?
- Is Ford still owned by the Ford family?
1. What did Ford call his first car?
Ford’s very first vehicle was called the quadricycle, and it looks astronomically different from the Ford cars seen out on the road today.
This vehicle featured a seat atop four bicycle wheels and was powered by a four-horsepower engine.
There was no steering wheel on the vehicle, but there was a tiller, a lever that allows a vehicle to be steered.
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The vehicle also could not go in reverse and only had two forward gears.
2. What is the story behind Ford’s creation?
The foundation of Ford Motor Company came in 1903. The company began with 12 investors, 1,000 shares and Ford at the helm.
The first car sold by the company was the Ford Model A on July 23, 1903. The car was a two-seater with a two-cylinder engine mounted under the seat, according to the Henry Ford Museum.
The first Ford product came in two colors, red and black, and sold for $850 during a time when the average wage was $489, according to the source.
In 1904, Ford opened its first international plant in what is now Windsor, Ontario, Canada, across the Detroit River from the location of Ford’s existing plant, according to Ford’s website.
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In the following years, the Ford brand continued to expand. In 1908, Ford had a presence in France and later England and Australia.
In 1917, Ford expanded into Ireland, followed by Spain in 1919 and Italy in 1922, according to the auto manufacturer’s website.
Ford’s famous Model T, nicknamed “Tin Lizzie,” hit the market in 1908, selling 15 million models before they stopped being produced in 1927, according to the Ford website.
By 1913, Ford had implemented an astounding innovation in the making of cars with the assembly line.
The Model T was manufactured at Ford’s Highland Park plant using the moving assembly line system, aiding in the mass production of the vehicle.
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The assembly line greatly quickened the speed at which the car was created, taking production time from 12.5 to 1.5 hours, according to Ford’s website, and also made the vehicle more affordable for buyers.
This car was sold for between $260 to $850, according to the source.
In addition to its cars, Ford is also known for its heavy-duty trucks. The first one ever created was the Ford Model TT in 1917.
Following this, many more advancements were made, such as the introduction of the Flathead V8 engine in 1932, the F-series line of trucks in 1948 and the Thunderbird in 1954.
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Ten years after the Thunderbird came the Mustang, a sporty, customizable car loved by drivers.
The original Mustang was a convertible, and many newer versions of the car on the road today allow drivers to drive with an open roof.
Also around this time came the Ford Bronco, a vehicle discontinued in 1996 before being re-released in 2020.
In 1990, the first version of the Explorer was brought to market.
More recent advancements to Ford vehicles include technological improvements, such as the SYNC entertainment system, new engines, like EcoBoost, and all-electric cars.
3. Is Ford still owned by the Ford family?
Ford is still largely controlled by the Ford family today, though the company is publicly owned, with institutions holding 58% and company insiders holding 0.3%, according to The Motley Fool.
The reason the Ford family still holds power is that they own Class B shares, which hold 40% of the voting power, according to The Motley Fool.
The executive chair of Ford Motor Company is William Clay Ford Jr., the great-grandson of Henry Ford.
Ford Jr. has been on the board of directors since 1988 and the chair since 1999.
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