Ford Motor Company lies in the top 10 automobile company all over the world. It is manufactured in USA but it has been distributed to major parts of the world. This company came into existence in the year 1903 and was founded by Henry Ford. Whole company is in the controlling hands of none other than Ford family. It is a very large automobile company, which has specialized in trucks and cars. Any person who is familiar with Ford brand surely prefers this to any other brand because of its durability and performance.
It has a very huge number of plants all over the world, which is around 70 plants, and it has employees of more than 150000 working in those plants. The major operations of Ford Motor Company lie in USA, Australia, Canada and other neighboring countries.
Ford Motor Company has different brands operating underneath in it, which includes Ford, Jaguar, Aston Martin and Land Rover etc. Although from different times, it has been selling and purchasing different brands just to improve their market share.
With these brands, Ford Motor Company has been specializing in number of products such as trucks, buses, vans and passenger cars etc. It has gained quite popularity in trucks which are one of the high number of selling products in Ford Motors. In addition, passenger cars have been opted by youth and old age people because of its durability.
It has also stepped into motor sports and has made its position quite strongly there. Only four brands represent NASCAR and Ford is one of it. NASCAR includes three types of racing such as Camping world truck series, Sprint Cup series and nationwide series. Ford has made its place all these three NASCAR racings. Ford has also represented Formula one from year 1967 to 2004.
Ford success strategy is nothing different from the others and for that, we should focus in detail on SWOT analysis of Ford Motor Company.
SWOT analysis is a very useful technique, which is opted by almost every organization nowadays. It gives the detail idea of where the company has competitive advantage and where it is lacking. SWOT analysis of Ford Motor Company also focuses on these factors, which are explained below:
• Ford is the first company, which has specialized in large-scale management in manufacturing of cars. In addition, the productions of Ford Cars have been done by highly engineered way, which is manufactured by moving assembly lines.
• Currently, Ford stands as the Second largest automaker in the United States and Fourth Largest in the world. This definition explains the market share of Ford all over the world.
• It has a very strong brand name and that is the reason that makes it the biggest manufacturer of automaker in Europe.
• It is present in six continents and this tells their strong presence in the global market.
• Research and development is a very essential part of any organization, which has played in the success for a company in the end. Ford Motors has invested a very huge amount of money in Research and development and it is now one of the highest investors in research and development.
• Most importantly, Ford has very high employee productivity.
• Ford market share has decreased in recent years and no further steps have been taken to improve it.
• With the emergence of Japanese and European manufacturers, the sales of Ford Motors has fell down and they have not been able to respond to the competition properly.
• Stock prices for Ford motors have also seen a huge drop in recent years.
• They can cater to a new market by producing fuel-efficient cars.
• Also with the increase in traffic, people are shifting towards small cars, so Ford Motors could consider this thing.
• Most of the manufacturing is nowadays done in China because of cheap labor and Chinese government has decreased automotive sales to increase automobiles sales.
• Use advance technology such as Hybrid Engines, which will result in fuel efficiency of the car. This is nowadays the increasing trend in market due to increase in petrol prices.
• All the manufacturing should be done in India and China for cheap labor and cheap material cost. Both these countries are encouraging products from other countries to make production in their country.
• Many other brands from all over the world i.e. Asia and North America etc. has focused on their marketing strategies and it has become the attention for majority of people.
• Toyota is the biggest manufacturer of automobile all over the world and they have stayed at top by providing extra facilities such as discount on their free lineups, whereas Ford has not been focusing on these petty issues.
• Many consumers from all over the world, especially North Americans have shifted to more fuel efficient cars.
• Rise in the prices of raw material will make the price of the product high and people might shift to other brands.
• US have been facing economic slowdown and Ford Motors main manufacturing plant exists in United States.
SWOT analysis of Ford Motor Company clearly defines that in which market they are doing better and which might just not be right for them. This makes the work a lot easier for any company to operate and design their future strategies according to that.
Overall Ford Motors is a well renowned brand and people who have durability as their first priority, always go for Ford. Also in rural areas, Ford tractors have gained the highest market share. They might even lack in some of their strategies but it is something, which their senior management might consider and will be working on that also. It started from America but nowadays it has gained quite a popularity in India and all that is because of the SWOT analysis of Ford Motors.