FIVE DOLLAR FORD.

Star (Christchurch), Issue 17189, 5 November 1923, Page 11

FIVE DOLLAR FORD.

NEW SALES SCHEME. By Telegraph—Press Association—Copyright Australian and N.Z. Cable Association, NEW YORK, November 3. The remarkable position of Mr Henry Ford as an automobile manufacturer was again demonstrated when it became known that he had given orders to various manufacturers from whom he buys tyres and other things, to speed up production in order to enable him to produce 10,000 cars daily by February, 1924. Mr Ford's factories arc now producing 7500 automobiles daily, and it is estimated that the 1923 production will be 2,000,000 cars. Mr Ford recently launched a scheme, in conjunction with certain banks, by which, on payment of five dollars a purchaser will receive a car and future payments will be deposited weekly with the banks. H is considered likely that this has caused a tremendous increase in flio domestic demand making necessary the augmented production. It has been estimated that Mr Ford’s profit is 90 dollars on each automobile. No announcements' have been made concerning a lowering of price.