Not long ago the American automobile industry was in a rapid free fall. The Germans and Japanese were spanking Detroit with cars that were leaner, even greener, and quite frankly were just better. The controversial 2008-2009 bailout was supposed to be the automakers’ death knell.
But now the Big 3, including Ford Motor, is charging back and has proven that the predictions of the industry’s demise were greatly exaggerated. And Ford, the one American automaker that turned down the U.S. government’s offer of assistance, is undergoing a transformation that will be typical of even more companies in the next several years. Ford has become much more than an automobile manufacturing giant: it is a design firm, a technology company and a lifestyle brand.
Like Nike, Ford can no longer be labeled as a certain type of company because of what it makes; it is now so much more than a firm that churns out cars and trucks. And with sustainability and innovation now at the company’s core, this is an exciting time for the 109 year old company and its stakeholders.
Originally published on Triple Pundit, republished with kind permission.