Henry Ford
In 1908, Ford introduced to the market the Model T automobile. Through cost-cutting production methods, Ford was eventually able to reduce the price of the Model T to $260, making it affordable for the mass market. Establishing the continuously moving assembly line, Ford was able to produce 2,000 cars per day. Ford was the first auto manufacturer to focus on a single model with a standardized chassis made of interchangeable parts. Ford became a national celebrity when, in 1914, he announced a basic wage of $5 per day for an 8-hour shift for plant workers, more than double the industry average of $2.34 for a 9-hour shift.