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Old 07-20-2008, 11:47 AM   #1
Hazdaz
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Default Ford's Financial Services Business to Enter the Red (i.e. Ford is about to get pwned)

Ford's Financial Services Business About to Enter the Red



http://seekingalpha.com/article/8585...d?source=yahoo

Quote:
Ford Motor Company (F) has lost $18 billion in income from 2001 through 2007. Ford just hasn't been able to turn a profit in selling cars.
There has, however, been one consistent earning division at Ford until recently: financial services.
Here Ford makes money financing vehicles for dealers, leasing companies and other customers. Ford's financial services section has helped to offset a lot of the Ford's losses.
A few years ago, this part of the business was quite a money maker. In 2005, Ford made $5 billion before taxes on $23 billion of revenue. However, its numbers are becoming weaker and weaker. Credit loss provisions keep mounting. In 2006, revenue had dropped to $17 billion with a decline in earnings to $2 billion. Revenue in 2007 was $18 billion with only $1.2 billion in net income. Last quarter, on revenue of only $4 billion, Ford made only $67 million!
This now tiny income is even more disturbing when you consider that the credit division by itself shouldered a debt of $114 billion (2007). With mounting credit loss provisions, I predict that next quarter, Ford Credit will go into the red. I cannot find any year that it has done so going back as far as 1999.
Does it matter? While Ford lost a total $18 billion from 2001 through 2007, its credit division made $21 billion in income before taxes. Without that, Ford's losses would have doubled. Unfortunately, with the difficulties in the credit markets, Ford's last safety net is about to go. Ford is quietly losing its one profitable area and no one is noticing.
This is bad news. Very, very, very bad news for Ford.

Good Job Ford management! You've done a hell of a job over the last couple of decades!
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Old 07-20-2008, 11:56 AM   #2
Godmal
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Wouldn't be a problem if they sold some decent cars. Unfortunately, their product (in the US) is crap.
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Old 07-20-2008, 12:18 PM   #3
Indocti Discant
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who said no one is noticing?
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Old 07-20-2008, 04:15 PM   #4
Hites
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so who else sees ford relocating to the uk due to new ownership?
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Old 07-20-2008, 04:27 PM   #5
tylerzero
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Originally Posted by Hites View Post
so who else sees ford relocating to the uk due to new ownership?
If the company were relocated elsewhere in Europe, they'd rename it "Fjord". *ba-da-bump*
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Old 07-21-2008, 01:51 AM   #6
Eyeflyistheeye
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Originally Posted by tylerzero View Post
If the company were relocated elsewhere in Europe, they'd rename it "Fjord". *ba-da-bump*

Hmmm... that would be a good nickname for Volvo.

Yuppie: I bought a Volvo
EFITE: That's really a Ford
Yuppie: Well, it's Swedish
EFITE: Alright, then it's a Fjord

Good one Tyler
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