Ford Motor Company is an American multinational corporation and the world's third largest automaker based on worldwide vehicle sales.

For 2007, Ford is the third-ranked automaker in US sales after General Motors and Toyota. This is the first time in the past 56 years Ford was not second-ranked automaker in US sales. Ford was also the seventh-ranked American-based company in the 2007 Fortune 500 list, based on global revenues of $160.1 billion . In 2006, Ford produced about 6.6 million automobiles, and employed about 283,000 employees at about 100 plants and facilities worldwide. In 2007, Ford had more quality awards from J.D Power than any other automaker.

Based in Dearborn, Michigan, a suburb of Detroit, the automaker was founded by Henry Ford and incorporated in June 16, 1903. Ford now encompasses many global brands, including Lincoln and Mercury of the US, Jaguar and Land Rover of the UK, and Volvo of Sweden. Ford also owns a one-third controlling interest in Mazda.

Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce, especially elaborately engineered manufacturing sequences typified by moving assembly lines. Henry Ford's combination of highly efficient factories, highly paid workers, and low prices revolutionized manufacturing and came to be known around the world as Fordism by 1914.

History

Ford was launched in a converted factory in 1903 with $28,000 in cash from twelve investors, most notably John Francis Dodge and Horace Elgin Dodge who would later found the Dodge Brothers Motor Vehicle Company. During its early years, the company produced just a few cars a day at its factory on Mack Avenue in Detroit, Michigan. Groups of two or three men worked on each car from components made to order by other companies. Henry Ford was 40 years old when he founded the Ford Motor Company, which would go on to become one of the largest and most profitable companies in the world, as well as being one of the few to survive the Great Depression. The largest family-controlled company in the world, the Ford Motor Company has been in continuous family control for over 100 years.

Corporate governance

Members of the board as of early 2007 are: Chief Sir John Bond, Richard Manoogian, Stephen Butler, Ellen Marram, Kimberly Casiano, Alan Mulally (President and CEO), Edsel Ford II, Homer Neal, William Clay Ford, Jr., Jorma Ollila, Irvine Hockaday, Jr., John L. Thornton and William Clay Ford (Director Emeritus).

The main corporate officers are: Lewis Booth (Executive Vice President, Chairman (PAG) and Ford of Europe), Mark Fields (Executive Vice President, President [The Americas]), Donat Leclair (Executive Vice President and CFO), Mark A. Schulz (Executive Vice President, President [International Operations]) and Michael E. Bannister (Group Vice President; Chairman & CEO Ford Motor Credit).[9]. Paul Mascarenas (Vice President of Engineering, The Americas Product Development)

Recent company developments

During the mid to late 1990s, Ford sold large numbers of vehicles, in a booming American economy with soaring stock market and low fuel prices. With the dawn of the new century, legacy healthcare costs, higher fuel prices, and a faltering economy led to falling market shares, declining sales, and sliding profit margins. Most of the corporate profits came from financing consumer automobile loans through Ford Motor Credit Company.

By 2005, corporate bond rating agencies had downgraded the bonds of both Ford and GM to junk status, citing high U.S. health care costs for an aging workforce, soaring gasoline prices, eroding market share, and dependence on declining SUV sales for revenues. Profit margins decreased on large vehicles due to increased "incentives" (in the form of rebates or low interest financing) to offset declining demand.

In the face of falling truck and SUV sales, Ford moved to introduce a range of new vehicles, including "Crossover SUVs" built on unibody car platforms, rather than body-on-frame truck chasses. Ford also developed alternative fuel and high efficiency vehicles, such as the Escape Hybrid.Ford announced that it will team up with Southern California Edison (SCE) to examine the future of plug-in hybrids in terms of how home and vehicle energy systems will work with the electrical grid. Under the multi-million-dollar, multi-year project, Ford will convert a demonstration fleet of Ford Escape Hybrids into plug-in hybrids, and SCE will evaluate how the vehicles might interact with the home and the utility's electrical grid. Some of the vehicles will be evaluated "in typical customer settings," according to Ford.

In December 2006, the company raised its borrowing capacity to about $25 billion, placing substantially all corporate assets as collateral to secure the line of credit. Chairman Bill Ford has stated that "bankruptcy is not an option" , but economists have stated that the company's impending contract renewal with the United Auto Workers in the summer of 2007 could be brutal. The UAW has vowed to attempt to retain the jobs banks, a system which retains idled workers on the payroll, rather than laying them off, in order to maintain contracted US employment levels.

The automaker reported the largest annual loss in company history in 2006 , $12.7 billion, and has estimated that it will not return to profitability until 2009. However, Ford surprised Wall Street in posting a 750 million dollar profit in the second quarter of 2007, a change largely atttributed to the sale of Aston Martin and cost-cutting. Ford has expressed a continued interest in the selling of Land Rover and Jaguar. Now only until recently Ford has expressed that they will be divesting the entire PAG including Volvo Personvagnar AB before winter of 2007.

Auto racing

NASCAR

Ford is one of four manufacturers in the three NASCAR series: Nextel Cup, Busch Series, and Craftsman Truck Series. Major teams include Roush Fenway Racing and Yates Racing. Ford's racing teams debuted the Fusion race car, replacing the Taurus at the 2006 Daytona 500. Some of the most successful NASCAR Fords were the aerodynamic fastback Ford Torino and Mercury Montegos, and the aero-era Ford Thunderbirds.

Formula One

Ford was heavily involved in Formula One for many years, and supplied engines to a large number of teams from 1967 until 2004. These engines were designed and manufactured by Cosworth, the racing division that was owned by Ford from 1998 to 2004. Ford-badged engines won 176 Grands Prix between 1967 and 2003 for teams such as Team Lotus and McLaren. Ford entered Formula One as a constructor in 2000 under the Jaguar Racing name, after buying the Stewart Grand Prix team which had been its primary 'works' team in the series since 1997. Jaguar achieved little success in Formula One, and after a turbulent five seasons, Ford withdrew from the category after the 2004 season, selling both Jaguar Racing (which became Red Bull Racing) and Cosworth (to Gerald Forsythe and Kevin Kalkhoven).

Rally

Ford has a long history in rallying and has been active in the World Rally Championship since the beginning of the world championship, the 1973 season. Ford took the 1979 manufacturers' title with Hannu Mikkola, Björn Waldegård and Ari Vatanen driving the Ford Escort RS1800. In the Group B era, Ford achieved success with Ford RS200. Since the 1999 season, Ford has used various versions of the Ford Focus WRC to much success. In the 2006 season, BP-Ford World Rally Team secured Ford its second manufacturers' title, with the Focus RS WRC 06 built by M-Sport and driven by Flying Finns Marcus Grönholm and Mikko Hirvonen.[48] Continuing with Grönholm and Hirvonen, Ford successfully defended the manufacturers' world championship in the 2007 season. Ford is the only manufacturer to score in the points for 92 consecutive races; since the 2002 season opener Monte Carlo Rally.

Sports cars

Ford sports cars have always been visible in the world of endurance racing. Most notably the GT40 won the prestigious 24 Hours of Le Mans four times in the 1960s and still stands today as one of the all-time greatest racing cars. The GT40 is the only American car to ever win overall at Le Mans.

Ford won the manufacturers title in 2005 in the Grand-Am Cup series with the FR500C Mustang race car.

Touring cars

Ford has campaigned touring cars such as the Focus, Falcon, and Contour/Mondeo and the Sierra Cosworth in many different series throughout the years. Notably, the Mondeo finished 1,2,3 in the British Touring Car Championship in 2000, and the Falcon finished 1,2,3 in the Australian V8 Supercar Series in 2005.

Other

Ford is the sole engine provider in the Champ Car series. The engines are manufactured by Cosworth. In the Indianapolis 500, Ford powered racing cars won 17 times between 1965 and 1996. Ford has a storied history in the Trans-Am series from the 1970s through today, having won many championships and races with its Ford Mustang. Ford has also branched out into drifting with the introduction of the new model mustang. Most noticeable is the Tourqoise and Blue Falken Tires Mustang driven by Vaughn Gittin Jr, A.K.A. "JR". with 750 RWHP (Rear Wheel Horsepower). In drag racing, John Force has piloted his Drag Ford Mustang to several NHRA funny-car titles in recent seasons. Formula Ford, a formula for single-seater cars without wings and originally on road tires were conceived in 1966 in the UK as an entry-level formula for racing drivers. Many of today's racing drivers started their car racing careers in this category.

Alternate fuel vehicles

Bill Ford was one of the first top industry executives to make regular use of an battery electric vehicle, a Ford Ranger EV, while the company contracted with the United States Postal Service to deliver electric postal vans based on the Ranger EV platform. The alternative fuel vehicles, such as some versions of the Crown Victoria especially in fleet and taxi service, operate on compressed natural gas - or CNG. Some CNG vehicles have dual fuel tanks - one for gasoline, the other for CNG - the same engine can operate on either fuel via a selector switch. Flexible fuel vehicles are designed to operate smoothly using a wide range of available fuel mixtures - from pure gasoline, to bioethanol-gasoline blends such as E85 (85% ethanol, 15% gasoline). Part of the challenge of successful marketing alternative and flexible fuel vehicles, is the general lack of establishment of sufficient fueling stations, which would be essential for these vehicles to be attractive to a wide range of consumers. Significant efforts to ramp up production and distribution of E85 fuels are underway and expanding.

Current Ford Flexible Fuel Vehicles: Model  updates

Ford F-150

New Fetures: What initially was supposed to be a modest refreshening of a pickup truck has turned into a major makeover for America's top-selling vehicle. The new 2009 F-150 is stiffer and 100 pounds lighter, helping to generate more performance, enhanced ride quality, and additional payload capacity. The new truck's fuel econonmy has been increased by an average 1 mile per gallon. The popular four-door super crew now features 6 extra inches of legroom, and a flat load floor. The 2009 F-150 will be available in three cab styles, four box options and seven separate trim lines - including a new Platinum line that sets a new benchmark for pickup luxury and nearly rivals the Lincoln LT.

Extra features: Initially, there will be three engine choices with the new F-150: A 5.4-liter, V-8, which is capable of running on E85, pure gasoline or any blend; a 4.6-liter, V-8, which is new for F-150; and a 4.6-liter, 2-valve V-8, that delivers more horsepower with the same fuel economy performance as the outgoing truck's V-6.More engine choices come in 2010, including a diesel and a direct injection turbocharged V-6 known as Ecoboost.
See it: The rear tailgate step, side step and capless fuel tank.

Ford Crown Victoria

New Fetures: Body-on-frame construction and rear-wheel drive, standard felxible-fuel (E85) capable 2 distinctive trim levels Standard,LXBrakes–Power 4-wheel disc with Anti-lock Brake System (ABS) Fail - safe engine coolingsystem,Fuel pump inertia shutoff switch Personal Safety System for driver and right-front passenger–Includes dual-stage front airbags,safety belt pretensioners,safety belt energy-management retractors,safety belt usage sensors,driver-seat position sensor,crash severity sensor, restraint control module and Front-Passenger Sensing System Remote keyless entry with available SmartLock anti-lockoutsystem SecuriLock passive anti-theft ignition system.

Extra features: Air conditioning Audio – AM/FM stereo/single-CD player Cruise control Electric remote decklid release Engine – 4.6L FFV SOHC V8 Mirrors – Power, fold-away sideview Power windows and door locks Rear-wheel drive Seat – 8-way power driver Variable-assist power rack-and-pinion steering Tilt steering column Tire Pressure Monitoring System

See it: Airbags – Front-seat side All-Speed Traction Control Audio – AM/FM stereo/single-CD/cassette player Audio – Audiophile Sound System with AM/FM stereo/6-disc in-dash CD changer Conventional spare tire Mirrors – Heated sideview Perimeter alarm system Power-adjustable pedals Power moonroof Seats – Leather-trimmed 8-way power driver and right-front-passenger **Available on select series. See your dealer for details.

   Ford Focus                                                           Ford Taurus                                      
 
  Ford Ranger                                                  Ford Explorer
             
Mercury Grand Marquis                      Lincoln Town Car
          

Current and planned Ford hybrid electric vehicles:

2004– Ford Escape Hybrid

2006– Mercury Mariner

2008– Ford Fusion/Mercury Milan

2009– Ford Edge/Lincoln MKX

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