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This Day In Market History: Ford Produces 1 Millionth Model T

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This Day In Market History: Ford Produces 1 Millionth Model T

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

What Happened: On this day in 1915, the Ford Motor Company (NYSE: F) manufactured its 1 millionth automobile at the River Rouge plant in Detroit.

Where The Market Was: The Dow closed around 99.15 and the S&P 500 traded around 9.14.

What Else Was Going On In The World: On Oct. 23, 1915, the Women’s Suffrage March occurred on Fifth Avenue In New York City. Roughly 25,000 supporters were involved, led by the founder of the League of Women Voters, Carrie Chapman Catt and Dr. Anna Shaw.

Four years later in June 1919, the 19th Amendment was passed by Congress, granting all American women the right to vote.

Ford’s Model T: Launched in 1908, the Ford Motor Co. produced 1 million automobiles in just a few years, revolutionizing the early stages of the auto industry. At this time, General Motors Co's (NYSE: GM) Chevrolet was Ford's biggest competitor. 

The Model T became the first mass-produced automobile of its time and sold for nearly 20 years before being replaced with the Model A, which became the first car to feature safety glass in the windshield.

Ford now generates $38.92 billion in total revenue 110 years later and produced more than 2.97 billion automobiles in 2017 alone. 

Library of Congress photo the River Rouge plant via Wikimedia.

 

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