FORD MOTOR COMPANY

a large US company that makes cars. It was established in Detroit in 1903 by Henry Ford and had a major influence on the way cars were made. It introduced the world’s first moving production line and started using standard types of parts. This reduced production times and costs, allowing Ford to sell cars to more people at lower prices. By the end of 1913, 50% of cars in the US were Fords. The first Model T was sold in 1908. The company has produced the Lincoln since 1922 and the Mercury since 1938. It became the owner of Aston Martin in 1993 and has bought Jaguar , Land Rover , Volvo Cars, and a share of Mazda. It also owns the Hertz Corporation, the world’s largest company that rents cars. The Ford Motor Company had produced 300 million vehicles by 2003.