THE MOTOR MAGNATE

Otago Daily Times, Issue 19010, 5 November 1923, Page 8

THE MOTOR MAGNATE

HENRY FORD’S VAST PRODUCTION. OUTPUT LARGELY INCREASED. Press Association —By TV.sgraph—Oopyrijfitt NEW YORK, November 3. (Received Nov. 4, at 11.35 p.rn.) The monumental position of Mr Henry Ford as an automobile manufacturer was again demonstrated when it became known that ho had given orders to various manufacturers from whom he buys tyres, eta, to speed up production in order to enable him to produce 10,000 cars daily by Fob ruary, 1924. The Ford factories are now producing 7500 automobiles daily, and it is estimated that the 1923 production will be 2,000,000. Mr Ford recently launched a scheme in conjunction with the banks by which on payment of five dollars a purchaser will receive a car, the luturo payments to be deposited weekly with tlie banks. It is considered likely that this has caused a tremendous domestic increase in the demand making necessary augmented production. It has been estimated that Mr Fbrd’s profit is 80 dollars on each automobile. No announcements have been made concerning a lowering of the price.—A. and N.Z. Cable.