Tag Archives: ford credit

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

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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

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