Saturday, November 19, 2016

Ford Discontinues the Edsel

November 19, 1959
Beginning in 1958, Ford began production of the Edsel in hopes of making a huge dent in sales against GM and Chrysler. It was not to be. On this day in 1959, Ford announced that they would discontinue production of the car with the name that became synonymous with the word, “failure.” The next day, UPI wire service reported that book values for the car had declined by as much as $400 immediately following the press release. In turn, Ford offered rebates of up to $400 worth of new Ford products to leery buyers. In the end, only 118,287 Edsels were built and total sales of the car were about 116,000 which was less than the projected break-even point!