Visit our inventory and Take a look at what drives Our Cars, Passion or Speed?
The Ford Motor Company (commonly referred to simply as "Ford") is an American multinational automaker headquartered in Dearborn, Michigan, a suburb of Detroit. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand and most luxury cars under the Lincoln brand. Ford also owns Brazilian SUV manufacturer, Troller, and Australian performance car manufacturer FPV. In the past, it has also produced tractors and automotive components. Ford owns an 8% stake in Aston Martin of the United Kingdom, and a 49% stake in Jiangling of China. It also has a number of joint-ventures, one in China (Changan Ford), one in Taiwan (Ford Lio Ho), one in Thailand (AutoAlliance Thailand), one in Turkey (Ford Otosan), and one in Russia (Ford Sollers). It is listed on the New York Stock Exchange and is controlled by the Ford family, although they have minority ownership (but majority of the voting power).
Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences typified by moving assembly lines; by 1914, these methods were known around the world as Fordism. Ford's former UK subsidiaries Jaguar and Land Rover, acquired in 1989 and 2000 respectively, were sold to Tata Motors in March 2008. Ford owned the Swedish automaker Volvo from 1999 to 2010. In 2011, Ford discontinued the Mercury brand, under which it had marketed entry-level luxury cars in the United States, Canada, Mexico, and the Middle East since 1938.
During the financial crisis at the beginning of the 21st century, it was close to bankruptcy, but it has since returned to profitability.
Ford is the second-largest U.S.-based automaker (preceded by General Motors) and the fifth-largest in the world (behind Toyota, VW, Hyundai-Kia and General Motors) based on 2015 vehicle production. At the end of 2010, Ford was the fifth largest automaker in Europe. Ford is the eighth-ranked overall American-based company in the 2010 Fortune 500 list, based on global revenues in 2009 of $118.3 billion. In 2008, Ford produced 5.532 million automobiles and employed about 213,000 employees at around 90 plants and facilities worldwide.
While paying a lower purchase price for the same car model used rather than new is the obvious reason to buy a used car, there are others as well.
Reed says new cars typically depreciate about 20 percent when they are driven off the lot. Most cars will lose another 10 percent in value during the first year.
Because a used car has less value than a newer version, the cost of insurance should be less. Reed says even more money can be saved because some elements of car insurance can be dropped.
As with car insurance, the fee that states charge to register a car is often based on the car’s transaction price, Reed says.
You may not be able to afford that new luxury car you’ve lusted for, but one that’s two or three years old may fit your budget.
“Buying someone else’s problems” was how some have described buying a used car. Today’s consumer can minimize the risk and save money while avoiding hidden problems.