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Previous: FORD MOTOR CREDIT CO, 8-K, 2001-01-19 |
Next: FORD MOTOR CREDIT CO, 8-K, EX-99.2, 2001-01-19 |
EXHIBIT 99.1
Contact: Daniel Jarvis
Ford Credit
313-594-2527
[email protected]
IMMEDIATE RELEASE
FORD CREDIT EARNS $1,536 MILLION IN 2000 AND $410 MILLION IN THE FOURTH
QUARTER
DEARBORN, Mich., January 18, 2001 - Ford Credit earned $1,536 million in
2000, Chairman and Chief Executive Officer Donald A. Winkler announced
today. Compared with 1999, earnings increased 22 percent, reflecting
primarily higher contract volume and an improved net financing margin,
offset partially by higher credit losses and operating costs associated
with the restructuring of North American operations. After-tax return on
average equity improved to 13.1 percent in 2000, compared with 11.5
percent a year earlier.
Ford Credit earned $410 million in the fourth quarter of 2000, up $101
million, or 33 percent, from the same period a year earlier.
"We have had an outstanding year," Winkler said. " We surpassed our
milestone of 10 percent earnings growth while achieving record contract
volume and market share in North America."
Ford Credit's total net finance receivables increased to $161 billion as
of December 31, 2000, compared with $142 billion at the end of 1999,
reflecting the growth in contract volume.
Ford Credit is a wholly owned subsidiary of Ford Motor Company and is
the world's largest automotive finance company. Now in its 42nd year,
Ford Credit provides vehicle financing in 40 countries to more than 10
million customers and 12,000 automotive dealers. More information about
Ford Credit can be found on the World Wide Web at www.fordcredit.com.
# # #
-------------------------------------------------------------------------------
Communications, Ford Motor Credit Company, The American Road, P.O. Box 1732,
Dearborn, Michigan 48121 Telephone: 313/594-1096; Fax: 313/390-2453
Internet: http://www.fordcredit.com
<PAGE>
<TABLE>
<CAPTION>
Ford Motor Credit Company and Consolidated Subsidiaries
OPERATING HIGHLIGHTS
Full Year
----------------------------
2000 1999
---------- --------
<S> <C> <C>
Income (in Millions)
------
Income Before Income Taxes $ 2,495.0 $ 2,103.8
Net Income 1,536.5 1,261.1
Memo: Depreciation Expense $ 7,845.7 $ 7,564.5
Market Share
------------
Ford Retail & Lease United States 50.9 % 47.2 %
Europe 31.7 32.8
Ford Wholesale United States 83.5 % 83.5 %
Europe 95.9 96.4
Contract Volume - New and Used Retail/Lease (in Thousands)
---------------
United States 3,525 3,139
Europe 795 829
Other International 686 525
--- ---
Total Contract Volume 5,005 4,493
===== =====
Assets (in Millions)
------
Net Finance Receivables $ 122,738.4 $ 108,753.8
Net Investment in Operating Leases 38,457.0 32,838.2
------------- -------------
Total Net Finance Receivables $ 161,195.4 $ 141,592.0
Other Assets 13,062.4 15,038.7
------------- -------------
Total Assets $ 174,257.8 $ 156,630.7
============ =============
Liabilities and Stockholder's Equity (in Millions)
------------------------------------
Liabilities
Debt - Payable within one year $ 62,986.5 $ 69,741.1
Debt - Payable after one year 83,308.2 63,332.6
------------- -------------
Total Debt $ 146,294.7 $ 133,073.7
Other Liabilities 15,759.2 12,218.5
------------- -------------
Total Liabilities $ 162,053.9 $ 145,292.2
Minority Interests in Net Assets of Subsidiaries 17.3 414.4
Stockholder's Equity 12,186.6 10,924.1
------------- -------------
Total Liabilities and Stockholder's Equity $ 174,257.8 $ 156,630.7
=========== ===========
</TABLE>
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