Jon’s Newsletter • 119 implied HN points • 14 Jan 24
- Ford's assembly line made car production much faster, cutting down assembly time from 12 hours to just 90 minutes. This allowed Ford to produce cars more efficiently.
- By dropping the price of the Model T from $850 to under $300, Ford made cars affordable for many more people. This helped him sell over 15 million Model Ts by 1927.
- Henry Ford also raised workers' wages to $5 a day, which was double the average wage. This not only reduced turnover but also allowed workers to buy the cars they made.