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.
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Famous quotes containing the words success and/or economic:
“The white man regards the universe as a gigantic machine hurtling through time and space to its final destruction: individuals in it are but tiny organisms with private lives that lead to private deaths: personal power, success and fame are the absolute measures of values, the things to live for. This outlook on life divides the universe into a host of individual little entities which cannot help being in constant conflict thereby hastening the approach of the hour of their final destruction.”
—Policy statement, 1944, of the Youth League of the African National Congress. pt. 2, ch. 4, Fatima Meer, Higher than Hope (1988)
“But I would emphasize again that social and economic solutions, as such, will not avail to satisfy the aspirations of the people unless they conform with the traditions of our race, deeply grooved in their sentiments through a century and a half of struggle for ideals of life that are rooted in religion and fed from purely spiritual springs.”
—Herbert Hoover (1874–1964)