Henry Ford family sole ownership of the company. By the mid-1920s, sales of the Model T began to decline due to rising competition. Other auto makers offered payment plans through which consumers could buy their cars, which usually included more modern mechanical features and styling not available with the Model T. Despite urgings from Edsel, Henry refused to incorporate new features into the Model T or to form a customer credit plan. By 1926, flagging sales of the Model T finally convinced Ford to make a new model. He pursued the project with a great deal of technical expertise in design of
Compact car not take easily to small cars." The U.S. market after World War II experienced growth in sales in standard-sized cars. By 1947, Chevrolet had prototypes of the Cadet, an economy car developed by Earle S. MacPherson. Ford also experimented with a "light car" and, unlike Chevrolet's Cadet, production ensued for the European market as a large car, the Ford Vedette. In 1950, Nash introduced a convertible Rambler model. It was built on a wheelbase to which a station wagon, hardtop, and sedan versions were added. Compared to European standards, they were large. Conceived by George W. Mason, the term "compact"