Nicole Casperson, Bianca Chan & Joey Pizzolato | Auto Finance News | Auto Finance News

Nicole Casperson, Bianca Chan & Joey Pizzolato

Ford Credit increases cash distribution

Ford Motor Credit increased its cash distribution to Ford Motor Co., injecting $1.1 billion into the OEM, compared with $700 million in the prior-year period, according to the company's third-quarter earnings call. “Cash distributions tend to track with profitability for Ford Credit, and that's been consistent over time,” Ford Motor Co.’s Chief Financial Officer Tim […]

Fair, the high-flying industry startup, initiates substantial staff cuts

Fair, which offers an automotive subscription app, will reduce its staff by 40% in an effort to increase profitability, according to an internal company memo sourced by TechCrunch.  TechCrunch estimated that 215 employees would lose their jobs at Fair. Among the employees let go is Chief Financial Officer Tyler Painter, brother of Chief Executive Scott […]