On July 23rd, 1903, Henry Ford sells his first Model A!
Henry Ford, seen here with his son Edsel, was the father of mass production. His idea of reducing the price of automobiles by manufacturing them on an assembly line revolutionized 20th century industry. The Ford Motor Company sold its first auto on July 23rd, 1903, a Model A that Ford himself designed. The company was at that time capitalized at $100,000. By 1927, when the last of 15 million model Ts had rolled of the assembly line, Ford Motor totaled $700 million. Henry Ford distrusted bankers and financed expansion through earnings instead of stock. He systematically bought out other shareholders until Ford Motor became the only individually owned company of its size.
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