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Article: Ford Credit announces third-quarter earnings. (Ford Motor Credit Co.)
- Article from:
- PR Newswire
- Article date:
- October 30, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. 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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FORD CREDIT ANNOUNCES THIRD-QUARTER EARNINGS
DEARBORN, Mich., Oct. 30 /PRNewswire/ -- Ford Motor Credit Company's net income for the third quarter of 1990 was $159.3 million, up $37.1 million or 30 percent from the third quarter of 1989, Chairman William E. Odom announced today.
"We are encouraged with the progress in our automotive financing business," Odom said. "Hard work on the basics of underwriting and collection capability and operating efficiency is coming through in the results; we are particularly pleased by the improvements this year -- lower delinquencies, lower repossessions, and lower credit losses." Credit losses worldwide were 0.80 ...