Mazda and Ford Motor Credit Co. part ways
09-28-08, 10:28 AM
#1
Guest
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Mazda and Ford Motor Credit Co. part ways
Mazda has parted ways with Ford Motor Credit Co. and will use Chase Auto Finance as its main source of financial services to dealers and customers. Starting next month, Chase Auto Finance will take care of Mazda’s lease and finance programs on its vehicles.
“This action has mutual benefits in the tough business environment and tight credit markets that are challenging the entire industry,” said Jim O’Sullivan Mazda’s North American CEO.
O’Sullivan made it clear that the change does not affect Mazda’s relationship with FoMoCo and that the American automaker still owns 33.4 percent of Mazda Motor Corp.
Ford customers who are currently financed through Mazda American Credit, a division of Ford Motor Credit Co. will continue doing business as is.
“This action has mutual benefits in the tough business environment and tight credit markets that are challenging the entire industry,” said Jim O’Sullivan Mazda’s North American CEO.
O’Sullivan made it clear that the change does not affect Mazda’s relationship with FoMoCo and that the American automaker still owns 33.4 percent of Mazda Motor Corp.
Ford customers who are currently financed through Mazda American Credit, a division of Ford Motor Credit Co. will continue doing business as is.
09-28-08, 01:34 PM
#3
Lexus Fanatic
Ford (finally) is producing some of the best-built vehicles they have ever done. After decades of building sub-standard, unreliable products, a number of their vehicles today are average or above in quality and realibility. In fact, some new Ford products, IMO, outdo some recent Toyota products in overall quailty. The new Sequoia, especially, comes to mind....I was very disappointed with it after a review.
Ford is cash-strapped for two primary reasons. First, they concentrated on highly-profitable trucks and large SUV's for many years, then got caught flat-footed when gas prices ate heavily into their sales, and, second, like GM, Ford is saddled with high UAW labor and benefit costs.....not something easy to lower. And you can only cut into worker pay and benefits so much....it is not fair to company employees who have worked hard all their lives in auto plants to just yank the retirement rug out from under them. They deserve a little nest egg for their years of hard work.
Last edited by mmarshall; 09-28-08 at 01:39 PM.
09-29-08, 01:04 PM
#4
Why?
Ford (finally) is producing some of the best-built vehicles they have ever done. After decades of building sub-standard, unreliable products, a number of their vehicles today are average or above in quality and realibility. In fact, some new Ford products, IMO, outdo some recent Toyota products in overall quailty. The new Sequoia, especially, comes to mind....I was very disappointed with it after a review.
Ford is cash-strapped for two primary reasons. First, they concentrated on highly-profitable trucks and large SUV's for many years, then got caught flat-footed when gas prices ate heavily into their sales, and, second, like GM, Ford is saddled with high UAW labor and benefit costs.....not something easy to lower. And you can only cut into worker pay and benefits so much....it is not fair to company employees who have worked hard all their lives in auto plants to just yank the retirement rug out from under them. They deserve a little nest egg for their years of hard work.
Ford (finally) is producing some of the best-built vehicles they have ever done. After decades of building sub-standard, unreliable products, a number of their vehicles today are average or above in quality and realibility. In fact, some new Ford products, IMO, outdo some recent Toyota products in overall quailty. The new Sequoia, especially, comes to mind....I was very disappointed with it after a review.
Ford is cash-strapped for two primary reasons. First, they concentrated on highly-profitable trucks and large SUV's for many years, then got caught flat-footed when gas prices ate heavily into their sales, and, second, like GM, Ford is saddled with high UAW labor and benefit costs.....not something easy to lower. And you can only cut into worker pay and benefits so much....it is not fair to company employees who have worked hard all their lives in auto plants to just yank the retirement rug out from under them. They deserve a little nest egg for their years of hard work.
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