DETROIT -- Ford Motor Co. won't follow General Motors' lead by putting its finance business on the sales block. Ford Motor Co. COO Jim Padilla said the automaker intends to keep its Ford Credit arm.
"The automotive group and the credit company operate as a single unit when we go to the marketplace," Padilla said. "Yes, we make money on financing cars That's an integral part of Ford Motor Co."
GM is pursuing the sale of a majority stake in its GMAC finance operation. GMAC, which has a home-mortgage business, has a broader product range than Ford Credit.