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Article: Ford Credit to shutter 7% of branch offices.(News)(Ford Motor Credit Co.)(Brief Article)
- Article from:
- Automotive News
- Article date:
- September 8, 2003
- Author:
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mary Connelly
Within six months, Ford Motor Credit Co. will close about 7 percent of its 165 branch offices servicing dealers.
"It's right-sizing our business,'' says A. J. Wagner, executive vice president of Ford Credit North America. "We're going to close about a dozen branches. Some of the locations got to be so small in terms of the volume going through them you couldn't run a business effectively.''
Business at Ford brand, Lincoln and Mercury dealerships is dropping off after reaching historic highs because of 0 percent financing deals in 2001, Wagner says. And Ford Credit, a subsidiary of Ford Motor Co., is opting out of some ...