What was the price of a Ford Model T in 1909 and by 1924 it was about _________?
The Ford Model T, one of the most iconic automobiles in history, saw a significant price drop over the course of its production run. In 1909, the initial price of a Ford Model T was $825, but by 1924, it had decreased to around $260.
The Ford Model T's Humble Beginnings
The Ford Model T, often referred to as the "Tin Lizzie," was first introduced in 1908 and quickly became a symbol of the automotive revolution. When it was first released, the base price of the Model T was $825, which was a significant sum at the time. However, Henry Ford's commitment to mass production and continuous improvements in manufacturing processes allowed the company to steadily reduce the price of the vehicle over the years.
The Price Drop: 1909 to 1924
By 1924, the price of the Ford Model T had dropped to around $260, a remarkable decrease of over 60% from its initial price. This was achieved through several factors:
- Increased efficiency in the assembly line process, allowing for faster and more cost-effective production
- Economies of scale as the company ramped up production to meet growing demand
- Continuous refinements and improvements to the Model T's design, reducing manufacturing costs
- Henry Ford's commitment to making the automobile accessible to the masses, rather than targeting the wealthy
The dramatic price drop of the Ford Model T played a significant role in the democratization of personal transportation, making it possible for more Americans to own a car and experience the freedom and convenience it provided.
What happened to the cost of the Model T between 1908 and 1925?
In 1909, the cost of the Runabout started at $825 (equivalent to $28,870 in 2024). By 1925 it had been lowered to $260 (equivalent to $4,660 in 2024). The figures below are US production numbers compiled by R. E. Houston, Ford Production Department, August 3, 1927.
How much did a Model T cost in 1909?
The Model T was the first mass-produced car that was affordable enough for a wide audience. In 1909 a new Model T cost $850, but by 1924 the price had gone down to only $260.
What was the price of a Ford Model T in the 1920s?
By the 1920s the price had fallen to $300 as the assembly line technique became more efficient and produced a greater volume of cars. The engine was simple and efficient, with all four cylinders cast in a single block and the cylinder head detachable for easy access and repair.
How much did a Ford Model T cost in 1924?
$290
In December of 1924 the Model T reached a low price of $290 in an effort to be affordable for the average factory worker or school teacher who earned about $400 a year. By 1925, one half of all the cars in the world were Model T's. The later Model T's were sold as a very basic car available only in black.
