When it comes to automobiles, we are often bombarded with marketing and advertising messages from Chrysler, General Motors, and Ford Motor Company. But what do these three companies have in common? Why should we care about their products? And what does this have to do with the world around us? Read on to learn more. Listed below are the three companies and the history of their cars. If you’re interested in the automobile industry, you’ll want to continue reading.
Ford Motor Company
Ford Motor Company is an American multinational automobile manufacturer with headquarters in Dearborn, Michigan. Henry Ford founded the company on June 16, 1903. It sells vehicles under the Ford brand name and luxury cars under the Lincoln luxury brand. As of 2016, the company employs about 400,000 people worldwide. Read on to learn more about the company’s history, products and locations. You can even find a Ford dealership near you. Here are some things you should know about Ford.
The Ford Motor Company was founded in 1903. Henry’s third attempt at establishing an automobile business, the company began production in a converted factory on Mack Avenue in Detroit. The first Model T was produced in 1909 and sold for $15. By 1923, Ford had established 20 overseas assembly plants. By the end of the 1920s, the Ford name had become universally recognized. The company also produced fifteen million Model Ts, as well as the Model A and the Ford V-8.
The history of Chrysler automobiles goes back to the 1920s, when Walter and Edwin Chrysler founded the company. After WWII, Chrysler dropped to the bottom of the Big Three automakers, but in the 1960s it rose to prominence as one of the first carmakers to use “Unibody” construction. The company helped create the muscle car market in the U.S. by introducing affordable high-performance vehicles. But even before the Concorde made its debut in the marketplace, Chrysler automobiles were making waves in the automotive industry.
In the 1960s, Chrysler expanded its operations into Europe, and in 1978, sold its European business to French automaker PSA Peugeot Citroen for $1. However, the company struggled during the 1970s, due to increased competition from Japanese automakers and increasing U.S. imports. The company started selling Mitsubishi vehicles in North America, which helped it recover. In the 1980s, Chrysler was saved from bankruptcy after the government provided $1.5 billion in loan guarantees and a new CEO, Lee Iacocca, brought the company back to profitability. During the 1990s, Chrysler sold its Jeep brand to Japanese automaker Mitsubishi. Chrysler continued selling Mitsubishi vehicles in North America.
The General Motors Company is an American multinational automobile manufacturing company headquartered in Detroit, Michigan. It is the largest automaker in the United States and once topped the global market as well. Until 2008, it was the world’s largest automaker but recently lost the crown to Toyota. Its products include cars, trucks, SUVs, and vans. With over 150,000 employees around the world, the company has a long history of making vehicles that people love and depend on.
GM is a major industrial force and has been active in environmental causes. While most of its activities are focused on cars and trucks on earth, the company is also active in the space program. GM has been involved with alternative technology for many years, and has recently led the way with vehicles that burn cleanly on E-85 (ethanol) and gasoline. It was also the first carmaker to introduce turbochargers into production. GM also developed components for the Lunar Roving Vehicle and the first manned mission to the moon.
General Motors is in dire straits, with the company’s share value dropping to its lowest in 65 years, a decline of $1.7 billion per month, and a $10 billion investment gap. During this period, GM has already cut 30 percent of its workforce, postponed new product development, and closed many North American plants. In order to survive and thrive, GM needs to understand customer economies and establish its core value drivers.
During this period, GM has cut down a great deal of jobs in the UK. Among the company’s 3800 employees, 220 of them are being laid off. The company also reduced their white-collar payroll globally from 73000 employees to 63000, while its US workforce has shrunk from 3400 to 3400 people in the same time period. This has led to fears that the company will not be able to recover quickly.