Quote:
Originally Posted by Tudortomnz
The figure I have seen for Model A introduction [ American magazine, Dec. '29] was $150 million. 1929, Fords biggest sales year, after tax profit was $91,522 million. Even though the Depression officially began with Stock Market crash in Oct. '29, it did not really bite & slow sales until late '30.
Ford was already working on the V8 by then & 1931 was a sales disaster all over the Western world.
Ford basically made its vast wealth from the Model T. He left it too late for intro. of Model A which really should have come out for '26 & therefore the Depression & outdated technology killed it. Rather than a long production life that Henry hoped for, Ford needed a new engine & chassis advancements to keep up with Chrysler & GM.
The Thirties were not great for Ford either even though they had an advanced & esteemed product. Cost of new V8, The Depression [until '35] & problems in Europe [ overseas sales were crucial to Ford profits] plus the start of WW2 meant by the early '40's, Ford was nearly bankrupt.
Henry Ford was too old & ailing by the late '30's ; it took his Grandson Henry2 to save the company.
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All good points.
And remember, Ford was a private company through all this. Henry had bad experience with shareholders early in his career and HATED them. So he kept Ford private for a long time.
Henry 2 took the company public (equivalent to today's IPO craze) in 1956 selling 20% of the company. There is a great article about it in the Jan. 30, 1956 issue of Life magazine. Henry 2 is on the cover, at the Rouge Plant.
Check it out:
https://books.google.com/books/about...d=gT8EAAAAMBAJ
I find it amazing what Google has scanned and made available to us inline for "free". (Nothing is ever free.)