A Tip of the Hat to Ford Motor Company

The Model T made its debut in 1908 with a purchase price of $825.00. Over ten thousand were sold in its first year, establishing a new record. Four years later the price dropped to $575.00 and sales soared. By 1914, Ford could claim a 48% share of the automobile market.

While Chrysler and General Motors were shafting customers, employees and creditors in bankruptcy court, Ford wasn’t.  While Chrysler and General Motors were extorting taxpayers for billions under the T.A.R.P. bailout, Ford declined.

Ford dealer Damon Wickware of Bayview Ford-Lincoln-Mercury in Daphne, Alabama, says he had a lot of folks coming in during the crisis expressing admiration for Ford.  Unlike the hundreds of Chrysler and GM dealers, Wickware didn’t have his dealer contract wiped out or “renegotiated” by bankruptcy.  “We’re coming up on 19 years in business,” says Wickware, “and our dealership and Ford Motor Company are solid.”

Of the “Big 3” American automakers, Ford was the only one that did the right thing during the Great Recession.  Ford cut expenses where they could, rearranged debt where they could, and dramatically improved the product line.

For their honorable behavior during the worst economic downturn in our lifetime, we are happy to give recognition.  In our opinion, this fine old American company has not received the proper credit for their actions.

Ford is the second largest automaker in the U.S. and the fifth-largest in the world based on vehicle sales in 2010.  The automaker was founded by Henry Ford and incorporated in 1903.

Starting four years ago, consumers began noticing a significant increase in the quality of Ford products.  In the J.D. Power and Associates report issued in 2007, Ford received more initial quality survey awards than any other automaker. The J.D. Power Initial Quality Study looks at both manufacturing defects and design problems in new cars as reported by their owners.

Five of Ford’s vehicles ranked at the very top of their categories and fourteen more Ford vehicles ranked in the top three of their categories.  No GM brands earned above average scores in the survey.  Since then, Ford has continued to enhance its reputation for putting out quality vehicles.  It’s a long way from the 1960’s when the joke was that FORD stood for Fix Or Repair Daily.

Ole’ Henry would be proud.

About William Bruce

President, American Business Brokers Association / Business Broker and Accredited Business Intermediary assisting business buyers and sellers with the transfer of ownership since 1986 / Author: How to Buy a Business.
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