Final answer:
The truck that was named after Ransom Eli Olds was a critical step in automotive history, laying the groundwork for the effective use of assembly lines in car manufacturing, a concept that was expanded upon by Henry Ford.
Step-by-step explanation:
The early 20th-century truck named after its designer, Ransom Eli Olds, who later founded Oldsmobile, was a pivotal innovation in automotive history. Ransom E. Olds was an early automotive pioneer who, before the Oldsmobile, made his mark with the Olds Motor Vehicle Company. This company produced the Olds Motor Works, which used the concept of an assembly line for production. Although this factory eventually burned down, it inspired Henry Ford to create and invest in a factory that significantly advanced the efficiency of the assembly line system – leading to the mass production of affordable cars. Importantly, the Olds truck became the ancestor of modern-day automotive production, paving the way for widespread automobile ownership and the subsequent social and economic transformations witnessed throughout the 20th century.