Ford Drops $2.72b, Finance Unit Stumbles
After a $4.97b loss last year, Ford is reporting a slightly smaller shortfall this year. After releasing preliminary losses at $2.67b in January, Ford has revised the number slightly to $2.72b. As we reported below, Bill Ford is spinning this smaller loss as an indication of profits to come on the auto-making end of the business. If those profits are to be realized, FoMoCo will have to overcome the drag projected for Ford’s finance wing. Reuters reports Ford Motor Credit was down about 40 percen
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