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Ford could emerge as the last domestic automaker standing

The pioneer of assembly line mass production and once the darling of the auto industry, Ford fell into a deep malaise several decades ago that it has only recently begun to wake up from. Storied models like the Mustang, Thunderbird and Continental used to roll out of Dearborn like newly minted debutantes and there were no shortage of eager suitors lined up to take them to the dance. In the 70’s and 80's, these models were succeeded by rolling time bombs like the Granada, Fairmont, Mystique and the Pinto which cemented Ford's reputation as a manufacturer of unreliable, unattractive, dangerous automobiles that eventually were Found On Rubbish Dumps.

Despite inferior products, Ford continued to ride high off profits from global sales and the success of models like the F-150 truck and Ford Taurus, both at one time domestic best-sellers.  But even these models often Failed On Rainy Days.  In 2003, the company was on the brink of bankruptcy, its market capitalization only one-tenth of the $161 billion in debt it held. Then Uncle Sam threw them a lifeline and Ford began the slow, painstaking process of turning around a 10,000 ton ship that had been cruise-controlling itself straight into a glacier. Even as it sopped up profits from the exploding SUV market with models like the Explorer and Expedition, it jettisoned cash-draining foreign brands like Aston Martin, Jaguar and Land Rover and began to focus on smaller, more fuel-efficient automobiles. 

Soon the Ford product line, once a bloated cumbersome example of all that went wrong in the domestic auto industry, began resembling a streamlined, focused selection of automotive offerings more in tune with the needs and wants of today’s consumer.  Todays Ford lineup includes several strong sellers, many of which are at the top of their class for reliability, quality and customer satisfaction. The Ford Focus, Fusion and Edge are solid, well-built vehicles that fill pressing needs in the small car, mid-size sedan and mid-size crossover segments. The Ford Flex, while quirky in appearance, is a ground-breaking, new-age 7-passenger people mover that belies Ford’s reputation as a boring brand. And the entire Lincoln lineup, from the MKX sedan and MKZ crossover to the flagship MKS sedan place Ford squarely in the near luxury market with products that are still accessible to the masses and Finally worthy Of Real Driving.

Most importantly, Ford got out of the gate early and began cutting production, reducing its workforce where necessary and shuttering factories – a restructuring process that is now incumbent upon GM and Chrysler if they are to continue to receive federal funds and ultimately survive.  When GM and Chrysler recently accepted hundreds of billions of dollars in federal bailout funds Ford, buoyed by a $23 billion dollar credit line it established in 2006, declined. 

Although the company is not out of the woods yet, with a strong, reliable product line and enough cash to stay afloat for the short-term, the once-maligned Ford may be best positioned to once again emerge as the leader of the domestic auto industry.