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Industry Analysis The automobile industry began with Henry Ford’s production of the Model T in the early 1900’s. ... Currently, the major competitors within the industry are Ford, DaimlerChrylser, General Motors (GM), Honda, Toyota, and Volkswagen. ... Some of the other major examples of consolidation are Nissan selling off a controlling 37% interest to Renault; General Motor’s 49% ownership of Isuzu; and Ford’s 33% majority of Mazda. ... Firm Analysis General History of Ford: Ford Motor Company’s first car was sold on July 23, 1903. ... Ford became the first international company when they started exporting cars to Europe. Within 10 years Ford had plants in 5 countries. In 1956, Ford went public with the largest stock issue of all time; 10. ... The Ford family still retains 34% of the firms voting stock. Ford’s finance subsidiary, Ford Motor Credit, was formed in 1959 and is the number one auto finance company worldwide. ... A revolution was started in 1964 when Ford unveiled the Ford Mustang. ... In 1980, Ford introduced the Escort, which was their first attempt at a car that could be globally marketed. ... Ford then developed the “global car” referred to as CDW27. ... In 1987, Ford earned record profits of $4. ... Ford makes vehicles under the following names: Volvo, which was bought in 1999; Aston Martin, acquired fully by 1994; Jaguar, which was bought in 1990; Mercury, production began in 1938; and Lincoln, which was purchased in 1922. In addition, Ford owns a controlling 33% stake in Mazda; 81% of Hertz, which is the number one rental car company in the US; and Ford Motor Company of Canada, Ltd. Currently, Ford is the #2 maker of cars and trucks worldwide. ... Ford’s three major subsidiaries are Hertz, Ford Credit, and Visteon. ... Ford Credit is the world’s largest automotive finance company. ... Future Plans: According to the company, Ford’s prime focus in the 21st Century will be on the consumer. Ford’s management stated, “Our vision is to be the world’s leading consumer company that provides automotive products and services.” In addition, Ford has made a deal with Microsoft in an effort to take advantage of the MSN CarPoint service. In addition, Ford recently announced an agreement with Yahoo! ... Ford is also trying to expand in the area of e-commerce. ... Ford is striving to make advances that will keep it competitive in a global market during the information revolution. Financial Analysis: General Ford has shown a steady pattern of sales growth from 1994 to 1997, growing at 5-7% each year. ... Cost of goods sold has remained around 72%, which shows consistency within Ford’s manufacturing plants. Ford’s borrowing can be explained by its leverage ratios. Ford’s debt ratio has remained relatively steady over the last 5 years. ... This is further evinced by Ford’s debt-to-equity ratio of 4. ... 97 industry average, Ford’s number appears quite high. Ford’s times-interest-earned for 1998 was 3. ... This could be due to the $15,955 million gain Ford recorded as a result of the spin-off of their interest in The Associates, Inc. The liquidity of Ford, indicated by its current ratio of . ... Ford’s quick ratio has trended upward over the last 4 years, with 1998 finishing at . ... With a company as large as Ford, having as many current liabilities as they do is not necessarily an indication of a problem.
Approximate Word count = 2761
Approximate Pages = 11
(250 words per page double spaced)
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