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Home » Ford Credit profitability declines amid high funding costs

Ford Credit profitability declines amid high funding costs

Captive reached two-thirds of full-year funding plan

Amanda HarrisbyAmanda Harris
August 3, 2023
in Earnings
Reading Time: 3 mins read
0
Vehicles for sale at a Ford dealership in Richmond, California, US, on Tuesday, Feb. 21, 2023. The average price for a new vehicle in the US has jumped to almost $50,000, up 30% since 2019, according to JPMorgan.

Photographer: David Paul Morris/Bloomberg

Ford Credit’s consumer portfolio grew in the second quarter while credit performance remained steady and lower financing margins drove down profits. U.S. consumer loan and lease outstandings clocked in at $79.3 billion in Q2, up 1.7% sequentially and 3.3% year over year, according to the captive’s earnings presentation Thursday. Leases made up 16% of total […]

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Tags: auto outstandingscredit performanceFord CreditPremium
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