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Ford Will Not Sell Ford Credit

January 13, 2006

DETROIT -- Jim Padilla, COO for Ford Motor Co., said the company intends to keep its Ford Credit arm and will not follow General Motors’ lead by putting its finance business on the sales block, according to an Automotive News report.

“The Automotive group and the credit company operate as a single unit when we go to the marketplace,” said Padilla in the report.

GM is pursuing the sale of a majority stake in its GMAC finance operation, which has a broader product range than Ford Credit.

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