Ford Credit Co., Ford Motor Co.’s consumer credit arm, has hiked the amount it has reserved for losses stemming from defaulted loans, according to a filing with the U.S. Securities and Exchange Commission. The unit placed $912 million aside for fourth quarter 2001, an increase of $360 million over like-2000. In December, Ford Chief Financial Officer Martin Inglis said the auto maker would raise the amount it reserves to cover loan losses, however he didn’t specify the amount. Inglis said a ...
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