Whatever happened to Ford Motor Company?
Henry Ford published this purpose statement in 1907:
“I will build a motor car for the great multitude. It will be large enough for the family, but small enough for the individual to run and care for. It will be constructed of the best materials, by the best men to be hired, after the simplest designs that modern engineering can devise. But it will be so low in price that no man making a good salary will be unable to own one-and enjoy with his family the blessing hof hours of pleasure in God’s great open spaces.”
Now, according to the Detroit Free Press, Ford is suing the IRS (yes, really!) because they say they overpaid taxes. I think Ford is trying to find money because they’re sinking. Sad, really.
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POSTED IN: Boomer Businesses in Difficult Financial Times, Finance, Mindset, Politics
8 opinions for Whatever happened to Ford Motor Company?
Jean Mercedes
Jul 13, 2008 at 10:50 am
Anybody who sues the IRS ranks high on my list! I am always trying to figure out how to pay less taxes (don’t you?), and companies are no different (except that they have a staff of people working on it). Yes, the US auto industry has hit hard times and therefore every little bit helps.
Henry Ford’s vision introduced modern production techniques to the automotive industry and beyond; as a result consumer prices for many types of goods have droped significantly. A new car now costs significantly less than one year’s salary.
Douglas Karr
Jul 13, 2008 at 6:31 pm
A few years ago I traded my incredible F150 for the new Ford 500. I have to tell you that, although it’s a beautiful car, everything is average in it. There’s nothing ‘great’ about the entire car (perhaps the huge trunk). It’s as if everyone voted on every feature so every decision was a ’safe’ one.
Jean
Jul 14, 2008 at 7:40 am
Thanks for the comment. My husband has been loyal to Ford for many years, but he feels the same. I loved the old Taurus and was very upset when they changed it. Now they’ve dropped it altogether. Time to switch to Honda?
Douglas Karr
Jul 14, 2008 at 7:49 am
I’m not sure I’ll switch to Honda. :)
Perhaps there’s an opportunity for Ford, given all its resources, to revitalize its product team. I think they just need a good shot in the arm!
Jean Mercedes
Jul 18, 2008 at 12:56 am
For the most part, Ford Motor Company has stayed with Henry Ford’s vision: build a car for everyone; the average car. Douglas, you will need to move to Ford’s premium brands (Lincoln, Volvo) if you are looking for above average. Honda is also about as average as you can get.
Douglas Karr
Jul 23, 2008 at 5:22 pm
Jean,
I bought the nicest 500 on the lot. For the money, I could have gotten a Cadillac CTS. I didn’t buy average and my payments aren’t average :).
Doug
Jean Mercedes
Jul 25, 2008 at 2:39 am
Hi Doug, sorry to disappoint, but “premium” vehicles are defined in the automotive industry as cars with a new price above $42,000. (I hope you did’t pay that much for your Ford 500!) Based on that the premium brands are:Cadillac, Lincoln and Hummer from the United States; Lexus, Infiniti and Acura from Japan, and BMW, Mercedes-Benz, Audi, Porsche, Volvo, Jaguar and Land Rover from Europe. This analysis includes all brands that sold more than 5,000 new vehicles in the United States in 2007. (Automotive News)
Ford and other non-premium brands have some decent products out there. They also add all the bells and whistles to hike up the price. You can add options to a Ford Mondeo so that it is priced over a BMW 3 series, but the 3-series remains premium and the Mondeo is not.
Douglas Karr
Jul 25, 2008 at 9:25 am
Above average then. :)
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