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 K was offered, the Model K produced over eighty five percent of Ford Motor Company's new car profit (1906 Ford Motor Company internal audit records). In 1907, the second, and primary sales year of the Model K, almost five hundred Model K were sold, the best selling six cylinder model in the world. As period journals reported, Ford Motor Company went in another direction, moving to one chassis, a mid priced car, the Model T, leaving the multi-line business model used by most auto makers of the period. However, sales and profits from the Model K helped Ford Motor Company become