Ford

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  • Ford Motor Company is an American automaker and the third largest automaker in the world.The Economic Times: Ford in $9 bn loss, to convert plants (July 25, 2008)

    On January 5, 2009, Ford reported that overall sales declined more than 32% in December 2008. Overall, the company's sales for 2008 were down 21% from the previous year.FOX Business: Ford, Toyota, GM Sales Plunge More Than 30% on Month (January 5, 2009) On January 29, 2009, Ford reported a loss of $14.6 billion dollars for 2008—its worst loss company history.The New York Times: Ford Has Its Worst Year Ever but Won't Ask for Aid (January 29, 2009)

  • History

    Ford Motor Company was founded in 1903 by Henry Ford. Ford's goal was to produce affordable cars for the general public. In order to mass-produce vehicles, Ford introduced the moving assembly line as an economical means to make a large amount of cars. Ford's design is still used by automobile manufacturers today.Edmunds.com: Ford Overview

    Over the years, Ford expanded its brand to include luxury cars from the Lincoln division and mid-priced cars from the Mercury division. Ford is currently the world's third largest car manufacturer.Edmunds.com: Ford Overview

  • Automaker Bailout

    December 10, 2008: Although Congressional Democrats and The White House have determined an outline for the $15 billion bailout to automakers, Ford's executives have decided to only use government funds as a backstop, as a result of a reported $18.9 billion in cash and $10.7 billion in unused credit the company has on its balance sheet. Ford CEO Alan Mulally has stated that his company is not finding themselves in the dire position that General Motors and Chrysler face.USAToday: Ford benefits from CEO's turn to road less traveled (December 10, 2008)

  • Declining Sales and Job Cuts

    On November 7, 2008, Ford announced it would cut North American jobs by 10 percent.CityNews: New Round Of Layoffs As Ford Posts Huge Loss (November 7, 2008) The announcement came just days after the automaker reported that sales in the U.S. for October 2008 had declined 30% due to low consumer confidence and the credit crisis.MSNBC: Ford's U.S. Sales Fell 30% in October(November 3, 2008)

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