For example, by law in California, auto mechanics make double minimum wage if they don't own their tools (so they can go buy some). That works out to about $68k/yr these days.
$120k/yr is not suuuuuper crazy in some areas for some auto work (think restoration). But generally, yes, Ford is not adding up here
I think you have that backwards:
"Typically, in California, if your employer wants you to provide and maintain your own work tools, they must pay you at least double the minimum wage. This means that in 2025, with California’s minimum wage at $16.50 per hour, your employer must pay you at least $33.00 per hour before they can require you to supply your own tools."
Auto mechanics make double minimum wage if the do own their own tools.