May 24, 2022
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Ford numbered his models by the letters of the alphabet, although Industry Email List not all of them made it to production. At first priced at $950, the Model T eventually dipped as low as $280 during its 19 years of production. Nearly 15,000,000 were sold in the Industry Email List United States alone, a record that would stand for the next 45 years. The Model T heralded the beginning of the Motor Age. Ford's innovation was a car that evolved from a luxury item for the wealthy Industry Email List to an essential form of transportation for the "ordinary man," which the ordinary man could afford and maintain by himself. Thanks to Ford’s nationwide publicity effort, half Industry Email List of all cars in the United States were Model Ts by 1918. Every new Model T was black. In his autobiography, Ford famously wrote, "Any customer can have a car painted any color that he wants so Industry Email List long as it is black." The 1908 Ford Model T Ford Model T, 1908. Getty Images/Bettymann Archive Ford, who distrusted accountants, managed to amass one of the world's largest fortunes without ever having Industry Email List his company audited. Without an accounting department, Ford reportedly guessed how much money was being taken in and spent each month by separating the company's bills and invoices and weighing them on a scale. The company would continue to be privately Industry Email List owned by the Ford family until 1956, when the first shares of Ford Motor Company stock were issued. While Ford did not invent the assembly line, he championed it and used it to revolutionize Industry Email List manufacturing processes in the United States. By 1914, his Highland Park, Michigan, plant used innovative production techniques to turn out a complete chassis every 93 minutes. This was a Industry Email List stunning improvement over the earlier production time of 728 minutes. Using a constantly moving assembly line, a subdivision of labor, and careful coordination of operations, Ford realized huge gains in productivity and personal wealth.