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Tag Archives: ford credit
Ford Motor Q1 Sales, Profits, Cash Flow Up. But…
Late yesterday Ford Motor posted Q1 2023 revenue of $41.5 billion, up 20% from the same period a year ago on shipments ~1.1 million vehicles, a 9% increase with $1.5B in net income. A year ago Ford posted a net … Continue reading
Posted in economy, electric vehicles, financial results
Tagged auto industry commentary, autoinformed.com, Ford, ford credit, Jim Farley, Ken Zino
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Ford Motor Blues – Q1 Loss of $3.1 Billion
As with GM yesterday, Ford was battered by supply chain disruptions mostly beyond its control, as well as self-created costs from the valuation of its investment in Rivian with a mark-to-market loss of $5.4 billion on the company’s investment down from $10.6 billion at the end of 2021. Strong customer demand from the ongoing Biden Administration recovery wasn’t helped by Ford’s popular vehicles because of persistent supply chain issues that Ford was unable to adjust for. Continue reading
Posted in financial results
Tagged auto industry commentary, autoinformed.com, ford credit, Jim Farley, John Lawler, Ken Zino
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Ford Credit CEO Mike Bannister Retires. Bernard Silverstone Succeeds
Ford Motor Company today announced that Mike Bannister, executive vice president and chairman and CEO of Ford Motor Credit Company, has elected to retire effective 1 January 2013, after 39 years of service. Bannister, 62, will be succeeded by Bernard Silverstone, 56, who is being named group vice president and chairman and CEO of Ford Motor Credit Company. Continue reading
Posted in auto news, news, people
Tagged auto informed, autoinformed.com, automotive news, bernard silverstone, ford credit, Ken Zino, mike banister
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Ford Credit to Regroup Next March
Ford Motor (NYSE: F) said today that Marion Harris will retire 1 March 2024 as president and CEO of Ford Credit. Replacing him will be Cathy O’Callaghan, Ford’s vice president, controller, and chief accounting officer since June 2018. Mark Kosman will become chief accounting officer. The new jobs for O’Callaghan and Kosman are effective 12 February, after Ford has reported its Q4 and full-year 2023 financial results. O’Callaghan and Kosman will report to CFO John Lawler. Continue reading →