Evolution fo the U.S. Auto Industry
1900 to Present
1900 — At the turn of the century, only one in 9,500 Americans owns a car. Twenty-two percent of these cars run on an internal combustion engine; the remaining vehicles run on steam or electricity. A new car costs approximately $2,000. U.S. auto sales total 4,100. 1901 — Ransom Olds designs the Oldsmobile, the first mass-produced, low-priced American motor vehicle. Four hundred twenty-five are sold in 1901, 5,000 in 1904. 1903 — Henry Ford founds The Ford Motor Company, which produces 1,700 cars in its first year. 1904 — The U.S. surpasses France as the world’s number one automobile manufacturer….
