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
Ford Model Y and in Germany as the Ford Köln from 1933 to 1936. Smaller numbers were assembled in Australia (where a coupé version was also produced), Japan, Latvia (branded as the Ford Junior) and in Spain nicknamed as the Ford Forito. Plans to build it in the U.S. were scrubbed when a cost accounting showed that it would only be slightly cheaper to build than the Ford Model B. The car was powered by a 8 (RAC)hp Ford sidevalve engine. The little Ford was available in two- and four-door versions. In June 1935, a reduced specification two-door model was the only closed-body