Automotive manufacturing is an essential element of global economic activity. First pioneered by Gottlieb Daimler and Carl Benz during the late 1800s, later Henry Ford took charge of streamlining production processes as one of three Big Three automakers by 1920.
Bayerische Motoren Werke AG (BMW), one of Germany’s automakers, is facing difficulty on the European market due to supply chain and economic factors. Recently, they unveiled their 2024 Prologue electric SUV.
Ford Motor Company
Ford Motor Company designs, produces and markets passenger cars, trucks and tractors for sale globally, while providing financing services through its subsidiary Ford Credit. Based out of Dearborn Michigan with facilities all around the globe.
Henry Ford and Alexander Malcomson founded The Company in 1903. It was incorporated in 1906 and became publicly traded in 1914; its stock is currently traded on the New York Stock Exchange.
Ford managed to weather the 2008 financial crisis without receiving government aid and invest in product development; thus positioning itself to capitalize when the economy began its rebound.
The Mustang has long been revered as one of the most iconic sports cars ever created, appearing in movies like Bullitt and songs such as “Mustang Sally.” With its combination of long hood and short deck design, affordable price, and wide array of customization options available, it became immensely popular with consumers.
In 1954, Studebaker Corporation of South Bend, Indiana was purchased by Packard Motor Car Company of Detroit, Michigan with the aim of taking advantage of Studebaker’s larger dealer network and strong cash position to revitalize their luxury brand. Nance also intended for these transactions to create a single platform.
Nance thought his merger made sense on paper, but did not properly study Studebaker’s books before undertaking its purchase. To his utter disbelief he discovered that Studebaker was far worse off than anticipated: its single-story Conner Avenue plant and generous union workforce added up to heavy overhead that required massive annual production volume just to break even.
Nance left after Studebaker-Packard suffered its disastrous sales year of 1956, and Studebaker-Packard entered into an agreement with Curtiss-Wright Corporation for management services. All defense contracts and plants were taken over by Curtiss while Packard production in Detroit was suspended – with its final vehicles rolling off the line between 1957 and 1958.
General Motors has long been at the forefront of American innovation. It pioneered engines that use low-lead fuel, released airbags and catalytic converters as early as 1964, and designed and constructed its Lunar Roving Vehicle specifically for Apollo moon missions.
Ford led the auto industry in lobbying against stricter federal fuel efficiency and emission standards, a position which helped make consumer advocate Ralph Nader a national figure. Furthermore, in the 1980s they were accused of handling workplace safety issues poorly leading up to Lordstown, Ohio factory disaster as well as sparking a blue-collar rebellion within its plants.
After an efficient bankruptcy reorganization process, General Motors emerged from government control in December 2013. Now one of the top five car companies, it acquired new brands such as Sidecar Technologies and Cruise Automation to help accelerate its self-driving vehicle efforts. These brands now join Chevrolet, Buick, Cadillac and GMC to Holden in Australia and Saab Sweden among its family of brands.
Toyota is an established automobile company with an expansive range of cutting-edge vehicles. Their products include automobiles and related components like engines, car air-conditioning compressors and stamping dies. Toyota practices novel technological development while producing low volume automobiles at balance local manufacturing, while setting up international bases to support out-of-country factories.
Toyota’s lineup features an extensive range of reliable and fuel-efficient cars, such as the subcompact Yaris, Camry sedan, Corolla hatchback and RAV4 midsize SUV. Furthermore, this brand provides mid-sized SUVs such as Tacoma RAV4 as well as full size trucks such as 4Runner Land Cruiser Sequoia 4Runner 4Runner. Furthermore, they even developed an updated version of legendary Supra sports car which they collaborated on with Subaru (BRZ), BMW (Z4) and Honda (C-HR).
Toyota has taken significant strides toward environmental change by adhering to its Production System philosophy and 3Rs policy, striving to lower emissions and risk factors associated with production processes and vehicle usage. Furthermore, hybrid cars, electric vehicles, and hydrogen-powered fuel cell vehicles designed by them are more environmentally friendly than their gasoline-powered counterparts.