Ford celebrated building its claimed 300 millionth vehicle with a ceremony in Detroit.

In a ceremony at the Dearborn Assembly Plant, employees and guests cheered as chairman and CEO Bill Ford drove the so-called 300 millionth vehicle - a crimson red 2004 Ford Mustang GT convertible - off the line.

"When the company built its one millionth car, my great-grandfather Henry Ford said, 'A million of anything is a great many,'" Bill Ford said. "He would be very proud that his company produced 300 million vehicles.

Other vehicle production milestones in Ford history were the 20 millionth in 1931, the 50 millionth in 1959, the 100 millionth in 1977 and the 250 millionth in 1996.