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
Henry Ford Company Mack Avenue Plant. In August 1902, Henry M. Leland was brought in by the investors to appraise the plant and equipment prior to selling them. Instead, Leland persuaded them to continue in the automobile business. The Henry Ford Company reorganized that year as Cadillac in honor of Antoine de la Mothe Cadillac, the founder of Detroit. Cadillac's first car was completed on October 17, 1902, the 10 horsepower (7 kW) Cadillac. Based on Henry Ford's design (except for the engine, designed by Leland & Faulconer), it was practically identical to the 1903 Ford Model A. Located in Detroit at 450