Ford cuts 2008 profit outlook for finance arm

Newswire

DETROIT, Feb 27 (Reuters) - Ford Motor Co on Wednesday cut its outlook for Ford Motor Credit, saying its finance arm would be hurt by higher credit losses, steeper depreciation on leased vehicles and lower loan volumes. In its annual filing with securities regulators, the No. 2 U.S. automaker said it expected Ford Motor Credit would be less profitable in 2008 than it had been in 2007 when it posted net income of $775 million. Ford did not offer a more specific forecast, but its outlook ...

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