Ford Motor Company is a well-known global automotive business. It is an American automobile company that established and headquartered in the city of Dearborn, Michigan. Henry Ford began the company in the year of 1903. Ford’s purpose is to create, design, and sell vehicles such as cars, SUV’S, sports cars, trucks, and even service parts. Ford is in an excellent position that remains to compete for business share in the USA and globally. According to Auto Alliance, “Ford is laser-focused on building a strong business that delivers great products leading in quality, fuel efficiency, safety, smart design, value, and that contribute to a better world.” But, during the year of 2007, Ford Motor company had suffered a loss of $2.7 billion. This
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They even created the first inflatable seatbelts into their Explorer for safety concerns. According to Consumer Reports, "Ford is offering inflatable seat belts for the outboard-rear-seat passengers as a new safety equipment option on 2011 Explorers". This technology has essential advantages that when a person gets into a crash, it reduces the risk of any injury to the chest and it also the deployment of the belt, decreases the forward movement by lowering the chances for any head injury. Therefore, we can see that Ford used the new technologies to develop and create new products to enhance its vehicles. In addition, Ford’ new products put more focus on an excellent fuel efficiency, and this made them become the leaders in fuel economy. But if we look back to before the recession, Ford and some of its competitors concentrated on making vehicles with significant fuel consumption. The 2008 oil shock resulted in increasing the fuel prices and made a change in customer demand. According to Resources for the future article, "while 2008 exhibits an extraordinarily large price swing, volatility in oil prices is ordinarily quite high because the underlying demand and supply curves are so inelastic". This made Ford change its focus to a new strategy by increasing its fuel efficiency of their cars. By this approach, they created a …show more content…
During these hard times, Ford stayed smart and creative by creating new vehicles that meet the customer needs. Mulally assumed that everyone in the company knows the plan. He assured that relationships between business, dealer, and consumers were significantly improved. His management was excellent for this change. He also made a substantial positive difference in the net income for the company. According to Statista, the statistics showed that net income of the Ford Motor Company from the year of 2007 to the year of 2016 had increased and it was about 7.4 billion U.S. dollar. Therefore, this indicated that Ford is now one of the most significant automobile manufacturers
They even created the first inflatable seatbelts into their Explorer for safety concerns. According to Consumer Reports, "Ford is offering inflatable seat belts for the outboard-rear-seat passengers as a new safety equipment option on 2011 Explorers". This technology has essential advantages that when a person gets into a crash, it reduces the risk of any injury to the chest and it also the deployment of the belt, decreases the forward movement by lowering the chances for any head injury. Therefore, we can see that Ford used the new technologies to develop and create new products to enhance its vehicles. In addition, Ford’ new products put more focus on an excellent fuel efficiency, and this made them become the leaders in fuel economy. But if we look back to before the recession, Ford and some of its competitors concentrated on making vehicles with significant fuel consumption. The 2008 oil shock resulted in increasing the fuel prices and made a change in customer demand. According to Resources for the future article, "while 2008 exhibits an extraordinarily large price swing, volatility in oil prices is ordinarily quite high because the underlying demand and supply curves are so inelastic". This made Ford change its focus to a new strategy by increasing its fuel efficiency of their cars. By this approach, they created a …show more content…
During these hard times, Ford stayed smart and creative by creating new vehicles that meet the customer needs. Mulally assumed that everyone in the company knows the plan. He assured that relationships between business, dealer, and consumers were significantly improved. His management was excellent for this change. He also made a substantial positive difference in the net income for the company. According to Statista, the statistics showed that net income of the Ford Motor Company from the year of 2007 to the year of 2016 had increased and it was about 7.4 billion U.S. dollar. Therefore, this indicated that Ford is now one of the most significant automobile manufacturers