2011 Press Releases

Silverstone Appointed Chief Operating Officer of Ford Motor Credit Company ^*
DEARBORN, Mich., Nov. 16, 2011 – Ford Motor Company and Ford Motor Credit Company today announced that Bernard Silverstone has been appointed chief operating officer, Ford Motor Credit Company, and has been elected a Ford corporate officer, effective Jan. 1, 2012. Currently, Silverstone is president of Marketing and Sales for Ford Credit. (continue...)

FORD CREDIT EARNS $350 MILLION NET INCOME IN THIRD QUARTER OF 2011^*
DEARBORN, Mich., October 26, 2011 – Ford Motor Credit Company reported net income of $350 million in the third quarter of 2011, a decrease of $147 million from a year earlier. On a pre-tax basis, Ford Credit earned $581 million in the third quarter and $1.9 billion in the first nine months of 2011, compared with $766 million and $2.5 billion in the third quarter and first nine months of 2010, respectively. (continue...)

As Customers Rebuild from Hurricane Irene, Ford Credit Offers Financial Relief^*
DEARBORN, Mich., Sept. 7, 2011 – Ford Motor Credit Company is offering customers affected by Hurricane Irene in the United States the option to delay some car and truck payments. Ford Credit's Disaster Relief Program allows qualified customers to delay one or two monthly payments, resuming their regular payment schedules when their situations improve. (continue...)

FORD CREDIT EARNS $383 MILLION IN THE SECOND QUARTER OF 2011^*
DEARBORN, Mich., July 26, 2011 – Ford Motor Credit Company reported net income of $383 million in the second quarter of 2011, a decrease of $173 million from a year earlier. On a pre-tax basis, Ford Credit earned $604 million in the second quarter, compared with $888 million in the previous year. On a pre-tax basis, Ford Credit earned $1.3 billion in the first half of 2011, compared with $1.7 billion in the first half of 2010. (continue...)

Ford Credit Launches Retail Notes Program^*
DEARBORN, Mich., May 13, 2011 – Ford Motor Credit Company today announced the launch of Ford Credit Notes, a program targeted to retail investors that is designed to offer senior unsecured Ford Credit notes through broker-dealers and registered investment advisers. The notes will be available on a recurring basis, potentially as soon as May 16, 2011. (continue...)

AS CUSTOMERS REBUILD FROM RECENT STORMS, FORD CREDIT OFFERS FINANCIAL RELIEF^*
DEARBORN, Mich., May 2, 2011 – Ford Motor Credit Company is offering customers affected by the recent storms and flooding in parts of the United States the option to delay some car and truck payments. Ford Credit's Disaster Relief Program allows qualified customers to delay one or two monthly payments, resuming their regular payment schedules when their situations improve. (continue...)

FORD CREDIT EARNS $451 MILLION IN THE FIRST QUARTER OF 2011^*
DEARBORN, Mich., April 26, 2011 – Ford Motor Credit Company reported net income of $451 million in the first quarter of 2011, a decrease of $77 million from a year earlier. On a pre-tax basis, Ford Credit earned $713 million in the first quarter, compared with $828 million in the previous year. The decrease in pre-tax earnings is more than explained by lower market valuation adjustments to derivatives and lower receivables volume. (continue...)

FORD CREDIT EARNS $2 BILLION IN 2010 ^*
DEARBORN, Mich., January 28, 2011 – Ford Motor Credit Company reported net income of $2 billion in 2010, an improvement of $0.7 billion from earnings of $1.3 billion a year earlier. On a pre-tax basis, Ford Credit earned $3.1 billion in 2010, compared with $2 billion in the previous year. The full year increase in pre-tax earnings is primarily explained by a lower provision for credit losses and lower depreciation expense for leased vehicles related to higher auction values, offset partially by lower volume and the non-recurrence of net gains related to unhedged currency exposure primarily from cross-border intercompany lending. (continue...)