Ford Motor Company

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“Ford” redirects here. For the 38th President of the United States see Gerald Ford. For other uses, see Ford (disambiguation).
Ford
Public (NYSE: F)
FoundedJune 17, 1903
FounderHenry Ford
HeadquartersDearborn, Michigan, USA
Key peopleWilliam Clay Ford, Jr - Executive Chairman
Alan Mulally - President, CEO
Area servedworldwide
IndustryAutomotive
ProductsAutomotive goods and services
Revenue US$160.1 billion (2006) [1]
Operating income US$-12.0 billion (2006)[1]
Net income US$-12.6 billion (2006)
Employees283,000 (2007)[2]
DivisionsFord Credit
Ford division
Lincoln
Mercury
Premier Automotive Group
SubsidiariesAutomotive Components Holdings
Jaguar
Land Rover
Volvo (cars only)
Websitewww.ford.com


Ford Motor Company is an American multinational corporation and the world's third largest automaker based on worldwide vehicle sales.

In 2006, Ford was the second-ranked automaker in the US with a 17.5% market share, behind General Motors (24.6%) but ahead of Toyota (15.4%) and DaimlerChrysler (14.4%)[3]. Ford was also the seventh-ranked American-based company in the 2007 Fortune 500 list, based on global revenues of $160.1 billion [4]. In 2006, Ford produced about 6.6 million automobiles[5], and employed about 280,000 employees at about 100 plants and facilities worldwide[6]. In 2007, Ford had more quality awards from J.D Power than any other automaker.[7]

Based in Dearborn, Michigan, a suburb of Detroit, the automaker was founded by Henry Ford and incorporated in June 16, 1903. Ford now encompasses many global brands, including Lincoln and Mercury of the US, Jaguar and Land Rover of the UK, and Volvo of Sweden. Ford also owns a one-third controlling interest in Mazda.

Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce, especially elaborately engineered manufacturing sequences typified by moving assembly lines. Henry Ford's combination of highly efficient factories, highly paid workers, and low prices revolutionized manufacturing and came to be known around the world as Fordism by 1914.

History

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Henry Ford (ca. 1919)
Ford was launched in a converted factory in 1903 with $28,000 in cash from twelve investors, most notably John Francis Dodge and Horace Elgin Dodge who would later found the Dodge Brothers Motor Vehicle Company. During its early years, the company produced just a few Model T's a day at its factory on Mack Avenue in Detroit, Michigan. Groups of two or three men worked on each car from components made to order by other companies. Henry Ford was 40 years old when he founded the Ford Motor Company, which would go on to become one of the largest and most profitable companies in the world, as well as being one of the few to survive the Great Depression. The largest family-controlled company in the world, the Ford Motor Company has been in continuous family control for over 100 years.

Corporate governance

Members of the board as of early 2007 are: Chief Sir John Bond, Richard Manoogian, Stephen Butler, Ellen Marram, Kimberly Casiano, Alan Mulally (President and CEO), Edsel Ford II, Homer Neal, William Clay Ford, Jr., Jorma Ollila, Irvine Hockaday, Jr., John L. Thornton and William Clay Ford (Director Emeritus).[8]

The main corporate officers are: Lewis Booth (Executive Vice President, Chairman (PAG) and Ford of Europe), Mark Fields (Executive Vice President, President [The Americas]), Donat Leclair (Executive Vice President and CFO), Mark A. Schulz (Executive Vice President, President [International Operations]) and Michael E. Bannister (Group Vice President; Chairman & CEO Ford Motor Credit).[9]. Paul Mascarenas (Vice President of Engineering, The Americas Product Development)

Recent company developments

During the mid to late 1990s, Ford sold large numbers of vehicles, in a booming American economy with soaring stock market and low fuel prices. With the dawn of the new century, legacy healthcare costs, higher fuel prices, and a faltering economy led to falling market shares, declining sales, and sliding profit margins. Most of the corporate profits came from financing consumer automobile loans through Ford Motor Credit Company.[10]

By 2005, corporate bond rating agencies had downgraded the bonds of both Ford and GM to junk status [11], citing high U.S. health care costs for an aging workforce, soaring gasoline prices, eroding market share, and dependence on declining SUV sales for revenues. Profit margins decreased on large vehicles due to increased "incentives" (in the form of rebates or low interest financing) to offset declining demand. [12]

In the face of falling truck and SUV sales, Ford moved to introduce a range of new vehicles, including "Crossover SUVs" built on unibody car platforms, rather than body-on-frame truck chasses. Ford also developed alternative fuel and high efficiency vehicles, such as the Escape Hybrid.[13]. Ford announced that it will team up with Southern California Edison (SCE) to examine the future of plug-in hybrids in terms of how home and vehicle energy systems will work with the electrical grid. Under the multi-million-dollar, multi-year project, Ford will convert a demonstration fleet of Ford Escape Hybrids into plug-in hybrids, and SCE will evaluate how the vehicles might interact with the home and the utility's electrical grid. Some of the vehicles will be evaluated "in typical customer settings," according to Ford. [14] [15]

In December 2006, the company raised its borrowing capacity to about $25 billion, placing substantially all corporate assets as collateral to secure the line of credit [16]. Chairman Bill Ford has stated that "bankruptcy is not an option" [17], but economists have stated that the company's impending contract renewal with the United Auto Workers in the summer of 2007 could be brutal[18]. The UAW has vowed to attempt to retain the jobs banks, a system which retains idled workers on the payroll, rather than laying them off, in order to maintain contracted US employment levels.

The automaker reported a net loss of $12.7 billion during 2006, and has estimated that it will not return to profitability until 2009.[19] However, Ford surprised Wall Street in posting a 750 million dollar profit in the second quarter of 2007, a change largely atttributed to the sale of Aston Martin and cost-cutting. Ford has expressed a continued interest in the selling of Land Rover and Jaguar. Now only until recently Ford has expressed that they will be divesting the entire PAG including Volvo Personvagnar AB before winter of 2007.[20]

"The Way Forward"

Main article: The Way Forward
In the latter half of 2005, Chairman Bill Ford asked newly-appointed Ford Americas Division President Mark Fields to develop a plan to return the company to profitability. Fields previewed the Plan, dubbed The Way Forward, at the December 7, 2005 board meeting of the company; and it was unveiled to the public on January 23, 2006. "The Way Forward" includes resizing the company to match current market realities, dropping some unprofitable and inefficient models, consolidating production lines, and shutting fourteen factories and cutting 30,000 jobs. [21].

These cutbacks are consistent with Ford's roughly 25% decline in U.S. automotive market share since the mid-late 1990s. Ford's target is to become profitable again in 2009, a year later than projected. Ford's realignment also includes the sale of its wholly owned subsidiary, Hertz Rent-a-Car to a private equity group for $15 billion in cash and debt acquisition. The sale was completed on December 22 2005. A joint venture with Mahindra and Mahindra Limited of India ended with the sale of Ford's 15 percent stake in 2005.

Chairman and Chief Executive Officer Ford also became President of the company in April 2006, with the retirement of Jim Padilla. Five months later, in September, he stepped down as President and CEO, and naming Alan Mulally as his successor. Bill Ford continues as Executive Chairman, along with an executive operating committee made up of Mulally, Mark Schulz, Lewis Booth, Don Leclair, and Mark Fields.

Brands and marques

Today, Ford Motor Company manufactures automobiles under several names including Lincoln and Mercury in the United States. In 1958, Ford introduced a new marque, the Edsel, but poor sales led to its discontinuation in 1960. Later, in 1985, the Merkur brand was introduced; it met a similar fate in 1989.

Ford has major manufacturing operations in Canada, Mexico, the United Kingdom, Germany, Brazil, Argentina, Australia, the People's Republic of China, and several other countries, including South Africa where, following divestment during apartheid, it once again has a wholly owned subsidiary. Ford also has a cooperative agreement with Russian automaker GAZ.

Since 1989, Ford has acquired Aston Martin (which it sold again on March 12, 2007[22], but it will retain a $77 million stake in the sports car maker[23]), Jaguar, Land Rover, from the United Kingdom and Volvo Cars from Sweden, as well as a controlling share (33.4%) of Mazda of Japan, with which it operates an American joint venture plant in Flat Rock, Michigan called Auto Alliance. It has spun off its parts division under the name Visteon. Its prestige brands, with the exception of Lincoln, are managed through its Premier Automotive Group.

Ford's FoMoCo parts division sells aftermarket parts under the Motorcraft brand name.

Ford's non-manufacturing operations include organizations such as automotive finance operation Ford Motor Credit Company. Ford also sponsors numerous events and sports facilities around the nation, most notably Ford Center in downtown Oklahoma City and Ford Field in downtown Detroit.

Overall the Ford Motor Company controls the following operational car marques: Ford, Jaguar, Land Rover, Lincoln, Mazda, Mercury, and Volvo; Jaguar, Land Rover, and Volvo are currently part of the Premier Automotive Group.

Global markets

Initially, Ford models sold outside the U.S. were essentially versions of those sold on the home market, but later on, models specific to Europe were developed and sold. Attempts to globalize the model line have often failed, with Europe's Ford Mondeo selling poorly in the United States, while U.S. models such as the Ford Taurus have fared poorly in Japan and Australia, even when produced in right hand drive. The small European model Ka, a hit in its home market, did not catch on in Japan, as it was not available as an automatic. The Mondeo was dropped by Ford Australia, because the segment of the market in which it competes had been in steady decline, with buyers preferring the larger local model, the Falcon. One recent exception is the European model of the Focus, which has sold strongly on both sides of the Atlantic.

From 2003, Toyota outsold Ford Motor worldwide. [24]. From the second quarter 2006, Toyota has passed Ford as the #2 automaker, by sales, in the United States[25].

The Ford Motor Company is in partnership talks to license hybrid technology from the Toyota Motor Corporation in a deal that could help establish Toyota's system as a standard for the industry. [26]

Europe

History

At first, Ford in Germany and the United Kingdom built different models from one another until the late 1960s, with the Ford Escort and then the Ford Capri being common to both companies. Later on, the Ford Taunus and Ford Cortina became identical, produced in left hand drive and right hand drive respectively. Rationalization of model ranges meant that production of many models in the UK switched to elsewhere in Europe, including Belgium and Spain as well as Germany. The Ford Sierra replaced the Taunus and Cortina in 1982, drawing criticism for its radical aerodynamic styling, which was soon given nicknames such as "Jellymould" and "The Salesman's Spaceship."

Increasingly, Ford Motor Company has looked to Ford of Europe for its "world cars," such as the Mondeo, Focus, and Fiesta, although sales of European-sourced Fords in the U.S. have been disappointing. In Asia, models from Europe are not as competitively priced as Japanese-built rivals, nor are they perceived as reliable. The Focus has been one exception to this, which has become America's best selling compact car since its launch in 2000.

In February 2002, Ford ended car production in the UK. It was the first time in 90 years that Ford cars had not been made in Britain, although production of the Transit van continues at the company's Southampton facility, engines at Bridgend and Dagenham, and transmissions at Halewood. Development of European Ford is broadly split between Dunton in Essex (powertrain, Fiesta/Ka, and commercial vehicles) and Cologne (body, chassis, electrical, Focus, Mondeo) in Germany. Ford also produced the Thames range of commercial vehicles, although the use of this brand name was discontinued circa 1965. It owns the Jaguar and/or Land Rover car plants in Britain; Ford's former Halewood Assembly Plant was converted for production of the Jaguar X-Type and currently also assembles Land-Rover's Freelander 2. Jaguars are also assembled at Castle Bromwich, Birmingham while the rest of the Land-Rover range is assembled at Solihull, near Birmingham.

Elsewhere in continental Europe, Ford assembles the Mondeo range in Genk (Belgium), Fiesta in Valencia (Spain) and Cologne (Germany), Ka in Valencia, and Focus in Valencia, Saarlouis (Germany) and Vsevolozhsk (Russia). Transit production is in Kocaeli (Turkey), Southampton (UK), and Transit Connect in Kocaeli.

Ford also owns a joint-venture production plant in Turkey. Ford-Otosan, established in the 1970s, manufactures the Transit Connect compact panel van as well as the "Jumbo" and long wheelbase versions of the full-size Transit. This new production facility was set up near Kocaeli in 2002, and its opening marked the end of Transit assembly in Genk. Another joint venture plant near Setubal in Portugal, set up in collaboration with Volkswagen, assembles the Galaxy people carrier as well as its sister ship, the VW Sharan.

Ford Europe has broken new ground with a number of relatively futuristic car launches over the last 50 years.

Its 1959 Anglia two-door saloon was one of the most quirky-looking small family cars in Europe at the time of its launch, but buyers soon became accustomed to its looks and it was hugely popular with British buyers in particular. It was still selling well when replaced by the more practical Escort in 1967.

The third incarnation of the Ford Escort was launched in 1980 and marked the company's move from rear-wheel drive saloons to front-wheel drive hatchbacks in the small family car sector. It also offered levels of style, comfort and refinement which were almost unmatched on comparable cars of this era. It was a huge success all over Europe and it was Britain's most popular car for most of its 10-year production life.

The fourth generation Escort was produced from 1990 until 2000, although its successor - the Focus - had been on sale since 1998. On its launch, the Focus was arguably the most dramatic-looking and fine-handling small family cars on sale, and sold in huge volumes right up to the launch of the next generation Focus at the end of 2004.

The 1982 Ford Sierra - replacement for the long-running and massively popular Cortina and Taunus models - was a style-setter at the time of its launch. Its ultramodern aerodynamic design was a world away from a boxy, sharp-edged Cortina, and it was massively popular just about everywhere it was sold. A series of updates kept it looking relatively fresh until it was replaced by the front-wheel drive Mondeo at the start of 1993.

The first two incarnations of the Mondeo were well-built, refined and reliable family cars that attracted strong sales, but the third incarnation (launched in 2007) took the large family car market to new heights in terms of build quality, refinement, comfort, equipment, driver appeal and value for money.

The rise in popularity of small cars during the 1970s saw Ford enter the mini-car market in 1976 with its Fiesta hatchback. Most of its production was concentrated at Valencia in Spain, and the Fiesta sold in huge figures from the very start. An update in 1983 and the launch of an all-new model in 1989 strengthened its position in the small car market. The second generation Fiesta was significantly updated twice before an all-new model was launched in 2002, and over the years it has become more refined, spacious, better-built and more enjoyable to drive.

Asia Pacific

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Ford dealership in Ho Chi Minh City, Vietnam (August 2005)
In New Zealand and Australia, the popular Ford Falcon was long considered the average family car and is considerably larger than the Mondeo, Ford's largest car sold in Europe. Between 1960 and 1972, the Falcon was based on a U.S. Ford of that name, but since then has been entirely designed and manufactured locally. Like its General Motors rival, the Holden Commodore, the 4.0 L Falcon retains rear wheel drive. High performance variants of the Falcon running locally-built engines produce up to 365 hp. A ute (short for "utility," known in the US as pickup truck) version is also available with a similar range of drivetrains. In addition, Ford Australia sells highly-tuned Falcon sedans and utes through its performance car division, Ford Performance Vehicles. These cars produce 390 hp and are built in small numbers to increase their value as collectors' cars.

In Australia, the Commodore and Falcon have traditionally outsold all other cars and comprise over 20% of the new car market. In New Zealand, Ford was second in market share in the first eight months of 2006 with 14.4 per cent.[27] This is all set to change with a shift away from local manufacturing and assembly: 2007 second quarter has seen Ford Australia cut their prestige (LWB) models and more recently, announced closure of their key engine manufacturing. This is due partly to drops in sales with stiff competition from Toyota's new Aurion and an updated Mitsubishi 380, both taking a large piece of the local family sedan market. Ford is betting on growth in small car sales with the Focus which it plans to assemble locally, and the popular Territory (Falcon-based) SUV.

Ford's presence in Asia has traditionally been much smaller. However, with the acquisition of a stake in Japanese manufacturer Mazda in 1979, Ford began selling Mazda's Familia and Capella (also known as the 323 and 626) as the Ford Laser and Telstar. The Laser was one of the most successful models sold by Ford in Australia, and outsold the Mazda 323, despite being almost identical to it. The Laser was also built in Mexico and sold in the U.S. as the Mercury Tracer, while the 1991 (and on through the end of the model in the early 2000s) American Ford Escort (and 1991-on Tracer) was based on the Laser/Mazda 323, assembled in the US and Mexico.

Through its relationship with Mazda, Ford also acquired a stake in South Korean manufacturer Kia, which built the (Mazda-based) Ford Festiva from 1988-1993, and the Ford Aspire from 1994-1997 for export to the United States, but later sold their interest to Hyundai. Kia continued to market the Aspire as the Kia Avella, later replaced by the Rio and once again sold in the US. Ironically, Hyundai also manufactured the Ford Cortina until the 1980s. Ford also has a joint venture with Lio Ho in Taiwan, which assembled Ford models locally since the 1970s.

Ford came to India in 1998 with its Ford Escort model, which was later replaced by locally produced Ford Ikon in 2001. It has since added Fusion, Fiesta, Mondeo and Endeavour to its product line.

South America

In South America, Ford has had to face protectionist government measures in each country, with the result that it built different models in different countries, without particular regard to rationalization or economy of scale inherent to producing and sharing similar vehicles between the nations. In many cases, new vehicles in a country were based on those of the other manufacturers it had entered into production agreements with, or whose factories it had acquired. For example, the Corcel and Del Rey in Brazil were originally based on Renault vehicles.

In 1987, Ford merged its operations in Brazil and Argentina with those of Volkswagen to form a company called Autolatina, with which it shared models. Sales figures and profitability were disappointing, and Autolatina was dissolved in 1995. With the advent of Mercosur, the regional common market, Ford was finally able to rationalize its product line-ups in those countries. Consequently, the Ford Fiesta and Ford EcoSport are only built in Brazil, and the Ford Focus only built in Argentina, with each plant exporting in large volumes to the neighboring countries. Models like the Ford Mondeo from Europe could now be imported completely built up. Ford of Brazil produces a pick-up truck version of the Fiesta, the Courier, which is also produced in South Africa as the Ford Bantam in right hand drive versions.

Africa and Middle East

In Africa Ford's market presence has traditionally been strongest in South Africa and neighboring countries, with only trucks being sold elsewhere on the continent. Ford in South Africa began by importing kits from Canada to be assembled at its Port Elizabeth facility. Later Ford sourced its models from the UK and Australia, with local versions of the Ford Cortina including the XR6, with a 3.0 V6 engine, and a Cortina 'bakkie' or pick-up, which was exported to the UK. In the mid-1980s Ford merged with a rival company, owned by Anglo American, to form the South African Motor Corporation (Samcor).

Following international condemnation of apartheid, Ford divested from South Africa in 1988, and sold its stake in Samcor, although it licensed the use of its brand name to the company. Samcor began to assemble Mazdas as well, which affected its product line-up, which saw the European Fords like the Escort and Sierra replaced by the Mazda-based Laser and Telstar. Ford bought a 45 per cent stake in Samcor following the demise of apartheid in 1994, and this later became, once again, a wholly owned subsidiary, the Ford Motor Company of Southern Africa. Ford now sells a local sedan version of the Fiesta (also built in India and Mexico), and the Focus and Mondeo Europe. The Falcon model from Australia was also sold in South Africa, but was dropped in 2003.

Ford's market presence in the Middle East has traditionally been even smaller, partly due to previous Arab boycotts of companies dealing with Israel. Ford and Lincoln vehicles are currently marketed in ten countries in the region.[28] Saudi Arabia, Kuwait, and the UAE are the biggest markets. Ford also established itself in Egypt in 1926, but faced an uphill battle during the 1950s due to the hostile nationalist business environment [29]. Ford's distributor in Saudi Arabia announced in February 2003 that it had sold 100,000 Ford and Lincoln vehicles since commencing sales in November 1986. Half of the Ford/Lincoln vehicles sold in that country were Ford Crown Victorias.[30] In 2004, Ford sold 30,000 units in the region, falling far short of General Motors' 88,852 units and Nissan Motors' 75,000 units.

Environmental record

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Mulally (second from left) with President George W. Bush at the Kansas City Assembly plant in Claycomo, Missouri on March 20, 2007, Ford's new hybrid cars


Ford motor co. ranked 7th as one of the top corporate air polluters in the United States releasing 9.67 million pounds of toxic air and their toxic score was 244,782 in 2002. [31] Some of the chemicals released were, Chromum 84lbs, Formaldehyde 27,042 lbs, and Sulfuric Acid 5,000lbs [32]

In 2000, under the leadership of the current Ford chairman, William Clay (Bill) Ford, the Company stunned the industry (and pleased environmentalists) with an announcement [33] of a planned 25 percent improvement in the average mileage of its light truck fleet — including its popular SUVs — to be completed by the 2005 calendar year.

On the other hand, Ford ended the Think City experiment and ordered all the cars repossessed and destroyed, even as many of the people leasing them begged to be able to buy the cars from Ford. After outcry from the lessees and activists in the US and Norway, Ford returned the cars to Norway for sale.

In 2003, Ford announced that competitive market conditions and technological and cost challenges would prevent the company from achieving this goal. The US Environmental Protection Agency (EPA) released its 2005 fuel economy report ranking Ford cars, trucks and SUVs as having the lowest gas milleage of any automaker in America [34]

Ford discontinued a line of electric Ranger pickup trucks and ordered them destroyed, though it reversed in January 2005, after environmentalist protest. [35]

Ford did achieve significant progress toward improving fuel efficiency during 2005, with the successful introduction of the Hybrid-Electric Escape. The Escape's platform mate Mercury Mariner is also available with the hybrid-electric system in the 2006 model year—a full year ahead of schedule—due to high demand. The similar Mazda Tribute will also receive a hybrid-electric powertrain option, along with many other vehicles in the Ford vehicle line. In 2005, Ford announced its goal to make 250,000 hybrids a year by 2010, but by mid-2006 announced that it would not meet that goal. Other hybrids to come out will be the Ford Fusion and Mercury Milan Hybrid version in 2008. There are also plans for a Ford Edge and Lincoln MKX Hybrid. The Edge and MKX are Ford's new crossover SUVs to come out for the 2007 model year.

Ford also continues to study Fuel Cell-powered electric powertrains, and is currently demonstrating hydrogen-fueled internal combustion engine technologies, as well as developing the next-generation hybrid-electric systems. To the extent it is successful in increasing the percentage of hybrid vehicles and/or fuel cell vehicles, there will be a significant decrease not only of air pollution emissions but also reduced sound levels, with notable favorable impacts upon respiratory health and decrease of noise health effects.

While the company's product line increasingly reflects its commitment to ecologically sustainable practices, Ford's record as a manufacturer continues to reveal problematic ones. Researchers at the University of Massachusetts have listed it as the seventh-worst corporate producer of air pollution, primarily because of the manganese compounds, 1,2,4-trimethylbenzene, and glycol ethers released from its casting, truck, and assembly plants.[36] The United States Environmental Protection Agency has linked Ford to 54 Superfund toxic waste sites, 12 of which have been cleaned up and deleted from the list.[37]

Alternate fuel vehicles

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Ford Research Center Aachen


Bill Ford was one of the first top industry executives to make regular use of an battery electric vehicle, a Ford Ranger EV, while the company contracted with the United States Postal Service to deliver electric postal vans based on the Ranger EV platform. The alternative fuel vehicles, such as some versions of the Crown Victoria especially in fleet and taxi service, operate on compressed natural gas - or CNG. Some CNG vehicles have dual fuel tanks - one for gasoline, the other for CNG - the same engine can operate on either fuel via a selector switch. Flexible fuel vehicles are designed to operate smoothly using a wide range of available fuel mixtures - from pure gasoline, to bioethanol-gasoline blends such as E85 (85% ethanol, 15% gasoline). Part of the challenge of successful marketing alternative and flexible fuel vehicles, is the general lack of establishment of sufficient fueling stations, which would be essential for these vehicles to be attractive to a wide range of consumers. Significant efforts to ramp up production and distribution of E85 fuels are underway and expanding.[38]

Current Ford Flexible Fuel Vehicles:[39] Ford was third to the automotive market with a hybrid electric vehicle: the Ford Escape Hybrid, which also represented the first hybrid electric SUV] to market and started the Ford hybrid technology [40]. The Hybrid Escape will also be the first hybrid electric vehicle with a Flexible Fuel capability to run on E85.[41] The company had made plans to manufacture up to 250,000 hybrids a year by 2010, but has since had to back down on that commitment, due to excessively high costs and the lack of sufficient supplies of the hybrid-electric batteries and drivetrain system components. Instead, Ford has committed to accelerating development of next-generation hybrid-electric power plants in Britain, in collaboration with Volvo, Jaguar, and Land Rover. This engineering study is expected to yield more than 100 new hybrid-electric vehicle models and derivatives.

Ford is also planning to produce 250,000 E85-capable vehicles a year in the US, adding to some 1.6 million already sold in the last 10 years.[42]

Ford also has launched the production of hydrogen-powered shuttle buses, using hydrogen instead of gasoline in a standard internal combustion engine, for use at airports and convention centers.[43] At the 2006 Greater Los Angeles Auto Show, Ford showcased a hydrogen fuel cell version of its Explorer SUV. The Fuel cell Explorer has a combined output of 174 horsepower. It has a large hydrogen storage tank which is situated in the center of the car taking the original place of the conventional model’s automatic transmission. The centered position of the tank assists the vehicle reach a notable range of 350 miles, the farthest for a fuel cell vehicle so far. The fuel cell Explorer the first in a series of prototypes partly funded by the United States Department of Energy to expand efforts to determine the feasibility of hydrogen- powered vehicles. The fuel cell Explorer is one of several vehicles with green technology Ford being featured at the L.A. show, including the 2008 Ford Escape Hybrid, PZEV emissions compliant Fusion and Focus models and a 2008 Ford F-Series Super Duty outfitted with Ford's clean diesel technology.

Ford announced on 2007-07-09 that it will team up with Southern California Edison (SCE) to examine the future of plug-in hybrids in terms of how home and vehicle energy systems will work with the electrical grid. Under the multi-million-dollar, multi-year project, Ford will convert a demonstration fleet of Ford Escape Hybrids into plug-in hybrids, and SCE will evaluate how the vehicles might interact with the home and the utility's electrical grid. Some of the vehicles will be evaluated "in typical customer settings," according to Ford. [44] [45]

Current and planned Ford hybrid electric vehicles:

Finances

Ford Motor Co. reported the largest annual loss in company history in 2006. The embattled automaker also posted a fourth-quarter loss that was worse than analysts' expectations and warned of worse showings ahead. As the higher fuel prices drove Americans back to fuel efficient car models and 25% of U.S. consumers are considering plug-in hybrid, Ford was left with a weak product lineup. [46] [47]

Auto racing

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NASCAR Ford Fusion race car
Ford is a major player in the scene of auto racing and motorsports.

NASCAR

Ford is one of four manufacturers in the three NASCAR series: Nextel Cup, Busch Series, and Craftsman Truck Series. Major teams include Roush Fenway Racing and Yates/Newman/Haas/Lanigan Racing. Ford's racing teams debuted the Fusion race car, replacing the Taurus at the 2006 Daytona 500. Some of the most successful NASCAR Fords were the aerodynamic fastback Ford Torino and Mercury Montegos, and the aero-era Ford Thunderbirds.

Champ Car

Ford is the sole engine provider in the Champ Car series. The engines are manufactured by Cosworth.

Trans-Am

Ford has a storied history in the Trans-Am series from the 1970s through today, having won many championships and races with its Ford Mustang.

Drag racing

John Force has piloted his Drag Ford Mustang to several NHRA funny-car titles in recent seasons.

Indianapolis 500

Ford powered racing cars won the Indianapolis 500 17 times between 1965 and 1996.

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Rubens Barrichello driving for the Stewart Grand Prix team in 1997

Formula One

Ford was heavily involved in Formula One for many years, and supplied engines to a large number of teams from 1967 until 2004. These engines were designed and manufactured by Cosworth, the racing division that was owned by Ford from 1998 to 2004. Ford-badged engines won 176 Grands Prix between 1967 and 2003 for teams such as Team Lotus and McLaren. Ford entered Formula One as a constructor in 2000 under the Jaguar Racing name, after buying the Stewart Grand Prix team which had been its primary 'works' team in the series since 1997. Jaguar achieved little success in Formula One, and after a turbulent five seasons, Ford withdrew from the category after the 2004 season, selling both Jaguar Racing (which became Red Bull Racing) and Cosworth (to Gerald Forsythe and Kevin Kalkhoven).[48]

Rally

Ford has also a long history in rallying and has been active in the World Rally Championship since the beginning of the world championship, the 1973 season. Ford took the 1979 manufacturers' title with Hannu Mikkola, Björn Waldegård and Ari Vatanen driving the Ford Escort RS1800. In the Group B era, Ford achieved success with Ford RS200. Since the 1999 season, Ford has used various versions of the Ford Focus WRC to much success. In the 2006 season, BP-Ford World Rally Team secured Ford its second manufacturers' title, with the Focus RS WRC 06 built by M-Sport and driven by Flying Finns Marcus Grönholm and Mikko Hirvonen.[49] Ford is the only manufacturer to score in the points for 87 consecutive races; since the 2002 season opener Monte Carlo Rally.[50]

Drifting

Ford has branched out into drifting with the introduction of the new model mustang. Most noticeable is the Tourqoise and Blue Falken Tires Mustang driven by Vaughn Gittin Jr, A.K.A. "JR". with 750 RWHP (Rear Wheel Horsepower).

Sports cars

Ford sports cars have always been visible in the world of endurance racing. Most notably the GT40 won the prestigious 24 Hours of Le Mans four times in the 1960s and still stands today as one of the all-time greatest racing cars. The GT40 is the only American car to ever win overall at Le Mans.

Ford won the manufacturers title in 2005 in the Grand-Am Cup series with the FR500C Mustang race car.

Touring cars

Ford has campaigned touring cars such as the Focus, Falcon, and Contour/Mondeo and the Sierra Cosworth in many different series throughout the years. Notably, the Mondeo finished 1,2,3 in the British Touring Car Championship in 2000, and the Falcon finished 1,2,3 in the Australian V8 Supercar Series in 2005.

Formula Ford

This formula for single-seater cars without wings and originally on road tires were conceived in 1966 in the UK as an entry-level formula for racing drivers. Many of today's racing drivers started their car racing careers in this category.

V8 supercars

An Australian touring car series in which Ford competes against Holden (a subsidiary of General Motors).

Ford trucks

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1961 Ford H-Series trucks
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1939 Ford pick-up truck
Ford has produced trucks since 1908. Countries where Ford commercial vehicles are or were made include Argentina, Australia, Brazil, Canada (badged Mercury too), France, Germany, India, Netherlands, Philippines, Spain (badged Ebro too), Turkey, UK (badged also Fordson and Thames) and USA.

Most of all these ventures are now extinct. The European one that lasted longer was the lorries arm of Ford of Britain, that was eventually sold to Iveco group in 1986, and whose last significant models were the Transcontinental and the Cargo.

In the USA, Ford's heavy trucks division (Classes 7 and 8) was sold in 1997 to Freightliner, now part of DaimlerChrysler, that rebranded it as Sterling. Ford continues building medium class trucks with the F-650 and F-750 and recently introduced the LCF series similar in design to the Ford Cargo trucks of the past.

Bus products

Ford has manufactured buses in the company's early history, but most Ford buses are built on Ford chassis by other manufacturers:



School Bus
  • Ford Transit bus van
  • Ford Minibus using F450 chassis
  • Ford Minibus using E350 (formerly Econoline 350)
  • Ford E450 Super Duty minibus
  • Ford Class C School Bus using B600, B700, B800 chassis
Commercial Bus
  • Ford Specialty Trolley
Transit/Suburban Bus
  • Ford G997
  • Ford R1014
  • Ford Trader
  • Ford Hawke
  • Ford ET7 with Casha bodywork
  • Ford 19B, 29B
  • Ford ET7 Aqualina
Clients include:

Ford Tractors

Ford started making tractors around 1907. Ford used to make a range of tractors at their Basildon plant in Essex, England. Ford has owned Versatile in the past. In 1986 the Ford motor company bought out New Holland and the new company was named Ford New Holland. This company was bought by Fiat and the name changed from Ford New Holland to New Holland. New Holland is now part of CNH Global.

Philco

Ford had non-automotive interests, as well, and owned the Philco home appliance company. Philco manufactured radios for Ford autos. See the Philco page for more information.

Criticism

Further information: Firestone and Ford tire controversy,The Battle of the Overpass
Throughout its history, the company has faced a wide range of unproven allegations and criticisms. Detractors of the company in the past have accused the early Fordist model of production of being exploitative, as well as characterizing the company as oppressive, willing to collaborate with dictatorships or hire mobs to intimidate union leaders and increase their profits through unethical means.

Detractors of the company often point out to the fact that Ford refused to allow collective bargaining until 1941, with the Ford Service Department being set up as an internal security, intimidation, and espionage unit within the company, and quickly gained a reputation of using violence against union organizers and sympathizers.[51][52]

Ford was also criticized for wearing down Firestone tires during driving, which caused many wrecks during a short time period in 2003. Many people were injured and killed due to the wearing down of the tires. Although Firestone received most of the blame, some blame fell on Ford.

Alleged Nazi Collaboration

Further information: Henry Ford


Other accusations were that the company collaborated with the German Nazi regime and relied on Germany. The German Ford company used slave labor in Cologne between 1941 and 1945 and that it had produced military vehicles such as jeeps, planes, and ships used by a fascist regime. Many of these allegations were made in a series of United States lawsuits in 1998. The lawsuit was dismissed in 1999 because the judge concluded "the issues...concerned international treaties between nations and foreign policy and were thus in the realm of the executive branch." [53][54]

Detractors point to Henry Ford's outspoken antisemitism, including his newspaper, The Dearborn Independent, which published The Protocols of the Elders of Zion, and "The International Jew: The World's Foremost Problem". Ford did not personally write "The International Jew", and later retracted it. They also point to the fact that in 1938, four months after the German annexation of Austria, Ford accepted the Grand Cross of the German Eagle, the Nazi regime's highest honor for foreigners before the outbreak of the war.[55]. Defenders of the company argue that the Ford German division, Fordwerke, had been taken over by the Nazi government after it rose to power, claiming that it was not under the company's control. Although Ford's initial motivations were anti-war, the company was heavily involved in the war effort after the outbreak of war. Companies, including Ford were concerned over the potentiality for nationalization of their factories. Ford became a major contributor to the US war effort by ceasing consumer product production and solely concentrating on war material production to include jeeps, planes, and ships.<ref name="adl" />

Argentine "Dirty War"

Further information: Dirty War


Ford's Argentine subsidiary was accused of collaborating with the Argentine 1976-1983 military dictatorship, actively helping in the political repression of intellectuals and dissidents that was pursued by said government. No result was proven and the company denied the allegations.

In a lawsuit initiated in 1996 by relatives of some of the estimated 600 Spanish citizens who disappeared in Argentina during the "Dirty War", evidence was presented to support the allegation that much of this repression was directed by Ford and the other major industrial firms. According to a 5,000-page report, Ford executives drew up lists of "subversive" workers and handed them over to the military task-forces which were allowed to operate within the factories. These groups were allegedly kidnapped, tortured and murdered workers - at times allegedly within the plants themselves. The company denied the allegations.

In a second trial, a report brought by the CTA, and the testimonies of former Ford workers themselves, claimed that the company's Argentine factory was used between 1976 and 1978 as a detention center, and that management allowed the military to set up its own bunker inside the plant. The company denied the allegations. [56] [57] [58]

See also

Notes

1. ^ Global 500: The top 25 - Ford Motor (12) - FORTUNE
2. ^ 2006 Ford Motor Company Annual Report
3. ^ USA Today report dated 5 January 2007
4. ^ Fortune 500 - Top 50
5. ^ 2006 Ford Annual Report Operating Highlights
6. ^ 2006 Ford Motor Company Annual Report
7. ^ Ford Vehicles snare the most quality awards in J.D Power survey Detroit News. Retrieved on June 6, 2007.
8. ^ [1]
9. ^ [2]
10. ^ Ford fighting to keep its shine
11. ^ GM, Ford Bond Ratings Cut to Junk Status
12. ^ Rebate wars
13. ^ 2005 Ford Escape Hybrid
14. ^ [3]
15. ^ [4]
16. ^ Ford Bets The House
17. ^ Ford CEO: Bankruptcy 'Not an Option'
18. ^ Difficult 2007 predicted for auto industry
19. ^ Ford hit by record $12.7bn loss
20. ^ Ford posts surprise $750m profit
21. ^ Ford to Cut Up to 30,000 Jobs and 14 Plants in Next 6 Years. The New York Times (January 23, 2006).
22. ^ Ford Motor Company (2007-03-12). FORD ANNOUNCES AGREEMENT TO SELL ASTON MARTIN. Press release.
23. ^ Ford Sells Major Stake in Aston Martin. March 12, 2007.
24. ^ [5]
25. ^ [6]
26. ^ [7]
27. ^ Kia soars ahead of the others (September 20, 2006).
28. ^ Ford Motor Company: Global Websites.
29. ^ Tignor, Robert, L.; DANIEL LOVES HEATHER (Summer 1990). "IN THE GRIP OF POLITICS: THE FORD MOTOR COMPANY OF EGYPT, 1945-1960". Middle East Journal 44 (3): 383-198. Retrieved on 2007. 
30. ^ Al Jazirah Vehicles Hits 100,000 Mark with Ford and Lincoln in Saudi Arabia.
31. ^ [8]
32. ^
33. ^ Ford Commits to Major SUV Fuel Economy Gains
34. ^ [9]
35. ^ [10]
36. ^ Political Economy Research Institute
37. ^ Center for Public Integrity
38. ^ Alternative Power: Michigan sets sights on ethanol to become an energy hotbed.
39. ^ Ford Motor Company.
40. ^ [11]
41. ^ Ford Develops World's First Ethanol-Fueled Hybrid Marrying Two Gasoline-Saving Technologies.
42. ^ Leading the Way with Ethanol-Capable Vehicles.
43. ^ Hoffman, Bryce G. "Ford to produce 'green' buses", The Detroit News, July 18, 2006. 
44. ^ [12]
45. ^ [13]
46. ^ [14]
47. ^ [15]
48. ^ Moffitt, Alastair. "Red Bull give Jaguar F1 wings", Red Bull give Jaguar F1 wings, November 15, 2004. 
49. ^ [16]
50. ^ [17]
51. ^ Ford Motor Company Chronology.
52. ^ Detroit News: The Battle of the Overpass.
53. ^ "[After December 1941...At GM and Ford plants in Germany, reliance on forced labor increased." Ford and GM scrutinized for Alleged Nazi Collaboration].
54. ^ The Ford Motor Company and the Third Reich.
55. ^ Corporations and Nazis: Ford and the Fürher.
56. ^ BBC News: Argentina checks Ford's 'military ties'.
57. ^ BBC News: Ford sued over Argentine abuses.
58. ^ Ford complicit in Argentine repression.

References and further reading

Ford Motor Company

  • Bak, Richard. Henry and Edsel: The Creation of the Ford Empire (2003)
  • Bardou; Jean-Pierre, Jean-Jacques Chanaron, Patrick Fridenson, and James M. Laux. The Automobile Revolution: The Impact of an Industry University of North Carolina Press, 1982
  • Batchelor, Ray. Henry Ford: Mass Production, Modernism and Design Manchester U. Press, 1994
  • Bonin, Huber et al. Ford, 1902-2003: The European History 2 vol Paris 2003. ISBN 2-914369-06-9 scholarly essays in English on Ford operations in Europe; reviewed in Len Holden, Len. "Fording the Atlantic: Ford and Fordism in Europe" in Business History Volume 47, #1 Jan 2005 pp 122-127
  • Brinkley, Douglas G. Wheels for the World: Henry Ford, His Company, and a Century of Progress (2003)
  • Brinkley, Douglas. "Prime Mover". American Heritage 2003 54(3): 44-53. on Model T
  • Bryan, Ford R. Henry's Lieutenants, 1993; ISBN 0-8143-2428-2
  • Bucci, Federico. Albert Kahn: Architect of Ford Princeton Architectural Press, 1993
  • Cabadas, Joseph P. River Rouge: Ford's Industrial Colossus (2004), heavily illustrated
  • Dempsey, Mary A. "Fordlandia' Michigan History 1994 78(4): 24-33. Ford's rubber plantation in Brazil
  • Flink, James. America Adopts the Automobile, 1895-1910 MIT Press, 1970
  • Foster, Mark S. "The Model T, The Hard Sell, and Los Angeles Urban Growth: The Decentralization of Los Angeles During the 1920s." Pacific Historical Review 44.4 (November 1975): 459-84
  • David Halberstam, The Reckoning (1986) detailed reporting on the crises of 1973-mid 1980s
  • Iacocca, Lee and William Novak. Iacocca: An Autobiography (1984)
  • Jacobson, D. S. "The Political Economy of Industrial Location: the Ford Motor Company at Cork 1912-26." Irish Economic and Social History [Ireland] 1977 4: 36-55. Ford and Irish politics
  • Levinson, William A. Henry Ford's Lean Vision: Enduring Principles from the First Ford Motor Plant, 2002; ISBN 1-56327-260-1
  • Kuhn, Arthur J. GM Passes Ford, 1918-1938: Designing the General Motors Performance-Control System. Pennsylvania State University Press, 1986
  • Magee, David. Ford Tough: Bill Ford and the Battle to Rebuild America's Automaker (2004)
  • Maxton, Graeme P. and John Wormald, Time for a Model Change: Re-engineering the Global Automotive Industry (2004)
  • May, George S. A Most Unique Machine: The Michigan Origins of the American Automobile Industry Eerdman's, 1975
  • Maynard, Micheline. The End of Detroit : How the Big Three Lost Their Grip on the American Car Market (2003)
  • McIntyre, Stephen L. "The Failure of Fordism: Reform of the Automobile Repair Industry, 1913-1940: Technology and Culture 2000 41(2): 269-299. repair shops rejected flat rates
  • Nevins, Allan; Frank Ernest Hill (1954). Ford: The Times, The Man, The Company. New York: Charles Scribners' Sons. 
  • Nevins, Allan; Frank Ernest Hill (1957). Ford: Expansion and Challenge, 1915-1933. New York: Charles Scribners' Sons. 
  • Nevins, Allan; Frank Ernest Hill (1962). Ford: Decline and Rebirth, 1933-1962. New York: Charles Scribners' Sons. 
  • Rubenstein; James M. The Changing U.S. Auto Industry: A Geographical Analysis Routledge, 1992
  • Shiomi, Haruhito and Kazuo Wada. Fordism Transformed: The Development of Production Methods in the Automobile Industry Oxford University Press, 1995
  • Sorensen, Charles E. My Forty Years with Ford Norton, 1956
  • Studer-Noguez; Isabel. Ford and the Global Strategies of Multinationals: The North American Auto Industry Routledge, 2002
  • Tedlow, Richard S. "The Struggle for Dominance in the Automobile Market: the Early Years of Ford and General Motors" Business and Economic History 1988 17: 49-62. Ford stressed low price based on efficient factories but GM did better in oligopolistic competition by including investment in manufacturing, marketing, and management
  • Thomas, Robert Paul. "The Automobile Industry and its Tycoon" Explorations in Entrepreneurial History 1969 6(2): 139-157. argues Ford did NOT have much influence on US industry
  • Watts, Steven. The People's Tycoon: Henry Ford and the American Century (2005)
  • Wik, Reynold M. Henry Ford and Grass-Roots America. University of Michigan Press, 1972. impact on farmers
  • Wilkins, Mira and Frank Ernest Hill, American Business Abroad: Ford on Six Continents Wayne State University Press, 1964
  • Williams, Karel, Colin Haslam and John Williams, "Ford versus `Fordism': The Beginning of Mass Production?" Work, Employment & Society, Vol. 6, No. 4, 517-555 (1992), stress on Ford's flexibility and commitment to continuous improvements.

External links



Ford may refer to:
  • Gerald Ford (1913–2006), 38th President of the United States
  • Betty Ford (born 1918), wife of former United States President Gerald Ford, and founder of the Betty Ford Center

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A public company usually refers to a company that is permitted to offer its securities (stock, bonds, etc.) for sale to the general public, typically through a stock exchange.
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New York Stock Exchange (NYSE), nicknamed the "Big Board", is a New York City-based stock exchange. It is the largest stock exchange in the world by dollar volume and, with 2,764 listed securities[1], has the second most securities of all stock exchanges.
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June 17 is the 1st day of the year (2nd in leap years) in the Gregorian calendar. There are 0 days remaining.

Events


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19th century - 20th century - 21st century
1870s  1880s  1890s  - 1900s -  1910s  1920s  1930s
1900 1901 1902 - 1903 - 1904 1905 1906

Year 1903 (MCMIII
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An entrepreneur (a loanword from French introduced and first defined by the Irish economist Richard Cantillon) is a person who operates a new enterprise or venture and assumes some accountability for the inherent risks.
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Henry Ford (July 30, 1863 – April 7, 1947) was the founder of the Ford Motor Company and father of modern assembly lines used in mass production. His introduction of the Model T automobile revolutionized transportation and American industry.
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City of Dearborn
Location in Michigan
Coordinates:
Country United States
State Michigan
County Wayne
Settled 1786

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State of Michigan

Flag of Michigan Seal
Nickname(s): The Wolverine State,
The Great Lakes State,
The Automotive State,
Winter Water Wonderland

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Motto
"In God We Trust"   (since 1956)
"E Pluribus Unum"   ("From Many, One"; Latin, traditional)
Anthem
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William Clay "Bill" Ford Jr. (born May 3, 1957 in Detroit, Michigan), is the great-grandson of Henry Ford, and serves as the Executive Chairman of the Board of Directors of Ford Motor Company.
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corporate titles or business titles on company officials as a means of identifying their function in the organization. In addition, many non-profit organizations, educational institutions, partnerships, and sole proprietorships also assign titles of the same nature.
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Alan Roger Mulally (born August 4, 1945 in Oakland, California) is an American engineer and businessman. He is currently the President and Chief Executive Officer of Ford Motor Company.
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President is a title held by many leaders of organizations, companies, trade unions, universities, and countries. Etymologically, a "president" is one who presides , who sits in leadership (from Latin prae- "before" + sedere "to sit"; giving the term
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Chief Executive Officer (CEO), or chief executive, is the highest-ranking corporate officer, administrator, corporate administrator, executive, or executive officer, in charge of total management of a corporation, company, organization or agency.
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Industry (from Latin industrius, "diligent, industrious"), is the segment of economy concerned with production of goods. Industry began in its present form during the 1800s, aided by technological advances, and it has continued to develop to this day.
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automobile (from Greek auto, self and Latin mobile moving, a vehicle that moves itself rather than being moved by another vehicle or animal) or motor car (usually shortened to just car) is a wheeled passenger vehicle that carries its own motor.
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Aspinwall Classification System (Leo Aspinwall, 1958) classifies and rates products based on five variables:
  1. Replacement rate (How frequently is the product repurchased?)
  2. Gross margin (How much profit is obtained from each product?)

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Revenue is a business term for the amount of money that a company receives from its activities in a given period, mostly from sales of products and/or services to customers.
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United States dollar
dólar estadounidense (Spanish)
dólar amerikanu (Tetum)
dólar americano

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In financial and business accounting, earnings before interest and taxes (EBIT) is a measure of a firm's profitability that excludes interest and income tax expenses.[1]

EBIT = Operating Revenue – Operating Expenses + Non-operating Income
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Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. Net income can be distributed among holders of common stock as a dividend or held by the firm as retained earnings.
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Employment is a contract between two parties, one being the employer and the other being the employee. An employee may be defined as: "A person in the service of another under any contract of hire, express or implied, oral or written, where the employer has
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Ford Motor Credit Company is the financial services arm of Ford Motor Company, and is headquartered in Dearborn, Michigan.

Its business activities are concentrated primarily in the area of automobile loans in support of its parent company.
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The following is a list of vehicles manufactured by the Ford Motor Company under the Ford marque.

Cars

  • Ford 2GA
  • Ford 300
  • Ford 7W
  • Ford 7Y (1938-1939, UK)
  • Ford Anglia (1940-1967, Europe)

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Lincoln

Luxury division
Founded 1917
Headquarters Dearborn, Michigan, USA

Key people Henry M. Leland, founder of the Lincoln Motor Company

Area served North America
Industry Automobile
Products Luxury vehicles
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Mercury

Near/Entry-level luxury division
Founded 1939
Headquarters Dearborn, Michigan, United States

Industry Automobile
Products Luxury vehicles
Parent Ford Motor Company
Slogan New Doors Opened
Website www.mercuryvehicles.
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The Premier Automotive Group (PAG), is a group within the Ford Motor Company that oversaw the business operations of its three European luxury automobile subsidiaries: Jaguar, Land Rover and Volvo.
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A subsidiary, in business, is an entity that is controlled by another entity. The controlled entity is called a company, corporation, or limited liability company, and the controlling entity is called its parent (or the parent company).
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Automotive Components Holdings, LLC is a wholly owned subsidiary of Ford Motor Company, formed by the 2005 transfer of a number of automotive components factories from Visteon Corporation to Ford Motor Company.
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