Essay on The Origins Of The Automotive Industry

1365 Words 6 Pages
The origins of the automotive industry can date all the way back to before the 1900’s with a few automobile manufactures, and when the thought of owning your own car was rather luxurious. Today, the automotive industry holds a great deal of automobile manufacturers. In addition, there is a vast amount of people who own their own car. One of the most famous automobile manufacturers in the world, that paved the way for the automobile industry today, is The Ford Motor Company.
HISTORY/ ASSETS AND LIABILITIES
The Ford Motor Company, founded by Henry Ford in Detroit, Michigan, is one of the most famous automobile manufacturers in the world today. Although, Henry Ford began creating innovative vehicles such as the four- horsepower engine Ford Quadricycle as early as 1896, the Ford Motor Company was not formed into a legal corporation until 1903. During the start of the Ford Motor Company, cars were assembled by small groups of workers by hand. In 1908, Henry Ford released what would become one of the most famous and best selling cars in the world known as the Model T. The Model T’s affordable cost and durability made it possible for the Ford Motor Company to sell 15 million of these cars before ceasing production. Years later in 1913, the innovative ideas of Henry Ford strike again with the introduction of the assembly line to production. The following year the Ford Motor Company also introduced the famous $5 day, which was double the existing worker wage for factory workers,…

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