Success and Economic Recession
Despite several early design flaws and reliability issues such as engine failure and unbearable heat, the Fordson established a firm foothold on U.S. farms, with more than seventy percent market share in earlier years. By mid-1918, more than 6,000 Fordson tractors were in use in Britain, Canada, and the United States. Annual production reached 36,781 in 1921 and 99,101 in 1926. By 1925, Ford had built its 500,000th Fordson tractor. Ford was the only automotive firm to sell cars, trucks, and tractors simultaneously from 1917 to 1928, during which time 552,799 Fordson tractors were built at the Dearborn, Michigan factory. An economic recession and plummeting farm income depressed the market in 1925.
Read more about this topic: Fordson Tractor
Famous quotes containing the words success and, success and/or economic:
“Success and failure in our own national economy will hang upon the degree to which we are able to work with races and nations whose social order and whose behavior and attitudes are strange to us.”
—Ruth Benedict (1887–1948)
“The common idea that success spoils people by making them vain, egotistic, and self- complacent is erroneous; on the contrary, it makes them, for the most part, humble, tolerant, and kind. Failure makes people cruel and bitter.”
—W. Somerset Maugham (1874–1966)
“A society in which everyone works is not necessarily a free society and may indeed be a slave society; on the other hand, a society in which there is widespread economic insecurity can turn freedom into a barren and vapid right for the millions of people.”
—Eleanor Roosevelt (1884–1962)