Ford auto finance unit cleared to operate in China

Newswire

NEW YORK, May 26 (Reuters) - Ford Motor Credit, part of Ford Motor Co , on Thursday said it received final approval to provide auto financing in China and expects to commence operations at the beginning of the third quarter. Its Chinese venture, Ford Automotive Finance China (FAFC), will support the sale of vehicles manufactured in the country as well as imported cars. FAFC will initially offer loans for Ford brand dealers but plans to expand financing to dealers of other company brands ...

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