Like I said in the prev post...by 1929 a worker would have spent less than 1/5 of his/her salary to purchase a (cheap) car. In today's $, a base model ford focus  is 18k. The average assy line pay in Louisville is 22$/h - a lot less than 5X the car price.

Also...financing is not new. Installments buying was available by 1910.By 1925 there were a lot of companies in the car financing business. GMAC was founded in 1919.

As for the layoffs after the raise...you are correct. Ford laid off many workers since he didn't have to worry about the 370% turnover anymore.