Ford – Thursday, September 22, 2022.
Ford again affirmed its expectation for full-year 2022 adjusted earnings before interest and taxes of between $11.5 billion to $12.5 billion, despite limits on option of certain parts in addition to higher payments designed to suppliers to take into account the consequences of inflation.
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Ford Motor Company designs, develops, manufactures, and services vehicles worldwide. It operates in two sectors, Automotive and Financial Services. The Automotive sector sells vehicles under Ford, Mercury, Lincoln, and Volvo brands. This sector markets cars, trucks, and parts through retail dealers in THE UNITED STATES, and through distributors and dealers beyond North America. In addition, it sells vehicles to dealers on the market to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. Furthermore, this sector provides retail customers with a variety of after-the-sale vehicle products in areas, such as for example maintenance and light repair, heavy repair, collision, vehicle accessories, and extended service warranty under brands, including Genuine Ford, Lincoln-Mercury Parts and Service, Ford Custom Accessories, Ford Extended Service Plan, and Motorcraft. The Financial Services sector supplies a various automotive financing products to and through automotive dealers. It includes retail financing, which include purchasing retail installment sale contracts and retail lease contracts from dealers, and offering financing to commercial customers to get or lease vehicle fleets; wholesale financing that comprises making loans to dealers to finance the purchase of vehicle inventory; along with other financing, which includes making loans to dealers for working capital, improvements to dealership facilities, also to purchase or finance dealership property. This sector also services the finance receivables and leases that it originates and purchases, makes loans to its affiliates, purchases receivables, and insurance services linked to its financing programs. The business has joint ventures with Mazda; Getrag Deutsche Venture GmbH and Co. KG; Neumayer Tekfor GmbH; Song Cong Diesel; and Lio Ho Group. Ford Motor Company was founded in 1903 and is situated in Dearborn, Michigan.
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