The Ford Motor Company is an American multinational corporation. The Ford Motor Company was founded by Henry Ford and incorporated on June 16, 1903. In addition to the Ford, Lincoln, and Mercury brands, Ford also owns Volvo Cars of Sweden, and a small stake in Mazda of Japan and Aston Martin of England. Ford's former UK subsidiaries Jaguar and Land Rover were sold to Tata Motors of India in March 2008. Ford introduced many new methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences by moving assembly lines. Henry Ford's methods came to be known around the world as Fordism by 1914. Ford has a mixed record on environmental issues, consisting of both positive and negative reports. In 2003, Ford discarded its goal of improving mileage on sport-utility vehicles by 25 percent by 2005, saying that it would boost mileage of all vehicles instead. For the 2007 model year, Ford had 13 U.S. models that achieve 30 miles per gallon or better (based on the highway fuel economy estimates of the United States Environmental Protection Agency (EPA)) and several of Fords vehicles were recognized in the EPA and Department of Energy Fuel Economy Guide for best-in-class fuel economy. Ford is the world's fourth largest automaker based on worldwide vehicle sales, following Toyota, General Motors, and Volkswagen. In 2007, Ford fell from the second-ranked automaker to the third-ranked automaker in US sales for the first time in 56 years, behind General Motors and Toyota. Based on 2007 global sales, Ford fell to the fourth-ranked spot behind Volkswagen. Ford is the seventh-ranked overall American-based company in the 2007 Fortune 500 list, based on global revenues in 2007 of $172.5 billion. In 2007, Ford produced 6.553 million automobiles and employed about 245,000 employees at around 100 plants and facilities worldwide. Also in 2007, Ford received more initial quality survey awards from J. D. Power and Associates than any other automaker. Five of Ford's vehicles ranked at the top of their categories and fourteen vehicles ranked in the top three.
Types of Cars and Achievements
Ford Motor Company announced it will accelerate its plans to transform itself into a maker of smaller and more fuel-efficient cars, changing both its North American manufacturing plans and its lineup of vehicles available in the United States. Ford has challenged University teams to create a vehicle that is simple, durable, lightweight and come equipped with a base target price of only $7,000. The students from Aachen University created the 2015 Ford Model T.
Ford is one of four manufacturers in NASCAR's three major series: Sprint Cup Series, Nationwide Series, and Craftsman Truck Series. Ford is represented by the mid-size Fusion in the Sprint Cup and Nationwide Series, and by the F-150 in the Craftsman Truck Series.
Ford was mainly 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.
Ford sports cars have always been present in the world of endurance racing. The Ford Mustang has been Ford's most successful sports car. The Mustang won the SCCA Pro B National Championship in 1965 at the hands of Jerry Titus who went on to win the SCCA Trans-Am Championship in another Mustang two year later in 1967. Ford won the Trans-Am Championship again in 1970 with Parnelli Jones and George Folmer driving Boss 302s for Bud Moore Engineering. Ford took the 1985 and 1986 IMSA GTO Championship with Mustangs driven by John Jones and Scott Pruett before returning to Trans-Am glory with a championship in 1989 with Dorsey Schrader. In 2005 the Ford Mustang FR500C took the championship in the Rolex Koni Challenge Series in its first year on the circuit. In 2007 Ford added a championship in the GT4 European Championship. 2008 is the first year of the Mustang Challenge for the Miller Cup; a new series which pits a full field of identical factory built Ford Mustang race cars against each other.