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This Day In Market History: The First Ford Model T Leaves Detroit Plant

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This Day In Market History: The First Ford Model T Leaves Detroit Plant

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened

On Sept. 27, 1908, Henry Ford’s first Model T left the Piquette Plant in Detroit. The original production card lists it as the Model 2090 No. 1. This model featured four cylinders, two levers and two foot pedals, according to the Henry Ford website.

Where The Market Was

The S&P 500 traded around $8.27, and the Dow Jones Industrial Average was trading around $86.15.

What Else Was Going On In The World

Another pioneer of this time, aviator Orville Wright, broke world flight records. On Sept. 3, 1908, Wright completed the first one-hour airplane flight in front of a 500-person crowd in Fort Myers, Virginia.

Ford Makes History

More than a century later, Ford Motor Company (NYSE: F) is one of the most valuable and innovative car manufacturers in the world. With a market cap of $44.6 billion, the Dearborn-based company has remained an integral pillar of the Motor City auto industry. 

Ford has come a long way since the Model T. From sports cars and SUVs to hybrids and commercial vehicles, the company has models competing in nearly every market segment. The manufacturer has since developed driver assist technologies, increased safety features and even announced a coming Mustang-inspired electric SUV.

Recent tariff threats have taken a toll on the company: CEO Jim Hackett said Wednesday that tariffs have cost Ford $1 billion in profit. 

Ford shares were trading up slightly at $9.28 at the time of publication Thursday.

Related Links

This Day In Market History: Ford Brings Eight-Hour Workday Into The Mainstream

Ford CEO: 'We Now Have Solutions For Cities'

Photo by Jackdude101/Wikimedia. 

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