“The American people made our company, what it is! We have nothing that the public did not give us. No surplus exists for personal – every surplus is provided for future use. The future is here, and we are going to do our utmost – risk everything, if necessary – to use this surplus which the public, through its dealings with us, has provided, to see if we cannot make what the country needs most – work, jobs.”
Grew up on a farm near Detroit (Dearborn-suburb) Michigan. His father was from Ireland. His father gave him a pocket watch at the age of 14. He took it apart and resembled it many times over and became a very good watch repairman. Henry Ford
Henry Ford grew up on the farm but despised farm work and when his mother died in 1876, he was devastated. • He later made the comment "I never had any particular love for the farm—it was the mother on the farm I loved.“ • In 1879 he left the farm to work at a machinist at Detroit Dry Dock Co. where he became adept at running a Westinghouse steam engine. • In 1891 he went to work for The Edison Illuminating Co. were he worked on the gasoline engine and developed the a self propelled vehicle called the Quadra-cycle. Henry Ford at 25 years old in 1888.
In 1896 Henry met Thomas Edison for the first time and with Edison’s approval, Ford created the “Ford Quadra-Cycle” with financial backing from a Detroit lumber company. • In 1903, using a newly designed car, Ford gave an exhibition on the ice of Lake St. Clair, driving 1 mile in 39.4 seconds, setting a new land speed record at 91.3 miles per hour. The driver, Barney Oldfield, labeled the car as Ford model 999. • In 1908 the Model T was designed. Ford Quadra Cycle Ford Model 999
Ford Motor Company • In 1902, Henry Ford designed his first inexpensive automobile for production and was financed by John and Horace Dodge, of all people. The idea did not catch on at first. • In 1903 The Dodge brothers (founders of the Dodge Motor Co.) accepted a portion of the company for payment and the “Ford Motor Company” was established. • In 1908 the first “Model T” was designed and the rest became history. Henry Ford with Thomas Edison and Harvey Firestone.
Mass Production • The science of mass production made Henry Ford a very wealthy Man
1908 Model T, $850 per unit ($20,091 by today’s standards-23.5 times) Sold 68,000 units The math: net profit $57,800,000 million
1915 Model T unit cost $440 per ($9,237 by today’s standards) Sold 501,462 units The math: net profit $220,643,280
The Difference • $117,843,280 • Conversion: • $2,769,317,080
Henry Ford’s method of mass production lowered the cost of the Model T, to a point where people could more afford to buy one, that cost was passed onto the consumer. It changed the way consumer manufacturing was done and to this day it is still used. This process became known as “Fordism.” The Ford Motor Company
Ford Motor Assembly Line The Ford Motor assembly line became the standard for successful business at a large scale. Henry Ford success was obtained through two main factor…the mass production of inexpensive goods…. Coupled with the payment of higher wages to his workers (promote higher standard of motivation).
Henry Ford’s ability to motivate his employees is unprecedented. He is known world-wide for his ability to overcome setbacks and to persevere. In his lifetime, Henry Ford has made many quotes that became famous but none more famous then the ones listed below: “Whether you think that you can, or that you can’t, you are usually right.” “If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.” “Quality means doing it right when no one is looking.”
The Ford “F Series Pick-up” is the 2nd largest seller, world-wide. It is America’s best selling vehicle of all-time selling 33,900,000 units over 3 decades. (The Toyota Corolla has sold more at the world level selling 35,000,000). The popular “Model T” sold 16,500,000 units in its early production over two decades.
Ford F Series 1955 F-100 2010 F-150 Raptor
Although the Ford Motor Company was third in the world in total yearly sales in 2009 (behind General Motors and Toyota). Over the long haul it has sold far more vehicles any other motor company. The Ford Motor Company maintained the “sick-with-itness” of Henry Ford by declining to except government aid money from the US government in the 2008 bail-out in.
The Best Ever! 1967 Ford Mustang (Eleanor)