Ford Motor Credit Company reported net income of $401 million in the second quarter of 2003, up $71 million from earnings of $330 million in the same period a year earlier.

On a pre-tax basis, Ford Credit said it earned $661 million in the second quarter of 2003 compared with $519 million in the second quarter of 2002.

The increase in earnings primarily reflects higher income related to securitizations and a lower provision for credit losses, offset partially by the impact of lower receivables, according to Ford Credit.

0 Comments