Ford Automotive Company Background
The Ford Automotive Company began as a vision of its founder Henry Ford. Henry Ford was born in 1863 on a farm near Dearborn, Michigan. In 1890 Ford’s hobby in the engineering field became a career as he began his employment at Detroit Edison Company. In 1892, Ford built his first gasoline buggy in which he sold in 1896 to help fund the construction of a new automobile. Three years later in 1899, Ford was forced to quit despite his promotion to chief engineer because of his hobby outside of work. The loss of his career at Detroit Edison Company did not slow Ford down. Soon after that he started Detroit Automobile Company with the help of some private investors. Shortly after, he withdrew from that business association because of accounting and prices of the cars produced by the company. On June 16, 1903 Henry Ford opened a converted wagon factory on Mack Avenue in Detroit which became known as the Ford Motor Company. After the company was formed it went through ups and down like any other company. The Ford Motor Company fought with the Licensed Association of Automobile Manufacturers over rights for a patent held on road locomotives with internal combustion engines when the company began. The Model T was the beginning mark of Ford’s success being one of its most popular cars in 1908. Ford was also involved in the war effort in World War I. The Ford Motor Company placed its resource at the disposal of the government providing large quantities of automobiles, trucks, ambulances, Liberty airplane motors, Whippet tanks, and Eagle submarine chasers. The Ford Company later expanded into other countries such as England, German, and Russia. The Ford Motor Company has been through many changes in time that include two World Wars, the Great Depression and more.
General Motors Automotive Company Background
William C. Durant, founder of General Motors Company was born in Boston, Massachusetts on December 8, 1861. Durant was also the grandson of Michigan Governor Henry H. Crapo. Durant dropped out of high school to work in his grandfather’s lumberyard. He went from the lumberyard to selling carriages. In 1886, Durant founded the Flint Road Cart Company which transformed from a $2,000 start-up capital into a $2 million business that made sales around the world. Durant teamed up with Josiah Dort to create the Durant-Dort Carriage Company based in Flint, Michigan in 1890. Their company became the number one leading manufacturer of horse-drawn vehicles in the world. After Durant produced the modern system of automobile dealer franchises, he was offered a general manager position of Buick in 1904. Shortly after obtaining this position and being successful in it, Durant became president of the company taking it in a different direction. Durant arranged the incorporation by proxies of General Motors and quickly after sold stock and with the proceeds acquired Oldsmobile in 1908. After that acquisition, Durant acquired Oakland, Cadillac. In 1911, Durant went into a partnership with Louis Chevrolet, starting the Chevrolet Company. In 1916, GM was incorporated as General Motors Corporation. GM went on to expand by purchasing McLaughlin Motor Car Company in Ontario, Vauxhall Motors of England, and 80% share in German automobile manufacturer Adam Opel AG. Under the leadership of Alfred P. Sloan, GM had successfully exceeded the sales of Ford Motor Company. GM also became versatile by purchasing Fokker Aircraft Corp of America and Berliner-Joyce Aircraft in which later merged into General Aviation Manufacturing Corporation. GM manufactured vehicles and aircrafts for both Allied and Axis customers during WWII. GM continued expanding and came out with more brands the almost any other automobile company in the world.
Ford Motor Company Profile
Ford Motor Company is a public company that is traded on the New York Stock Exchange. Ford...