Henry Ford, Assembly Lines, and the Model T
The Model T began selling in 1915 for 440$ (about 10,000 today) By 1925, a record 9109 cars are made in 1 day, the price is dropped to 290$ (about 6000 today)
15 million were made by 1927, and most of the manufacturing was done in Detroit. Introduction of the assembly line and factories increase output.
(high supply = low demand = low price)
(low supply = high demand = high price)
Would automobiles be different if somebody else created the first car?
15 million were made by 1927, and most of the manufacturing was done in Detroit. Introduction of the assembly line and factories increase output.
(high supply = low demand = low price)
(low supply = high demand = high price)
Would automobiles be different if somebody else created the first car?