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
Economy car stripped down version of the Series-H, to compete with Henry Ford's Model T, and went into production in June. To aim directly at Ford, Durant said the new car would be priced at (the source of its name), the same as the Model T touring. Its introductory price was , however, although it was reduced to later when the electric starter and lights were made a option. Henry Ford responded by reducing the Model T to . In 1916 Edward G. Budd's first big order for the Budd Company was from the Dodge brothers, who purchased 70,000 bodies, mounting the