Ford Motor Company manufactures or distributes automobiles worldwide. The company provides financial services through Ford Motor Credit Company. Segments The company presents its business results in two sectors, Automotive and Financial Services. Automotive Sector The company’s vehicle brands are Ford and Lincoln. In 2014, the company sold approximately 6,323,000 vehicles at wholesale throughout the world. Substantially all of the company’s vehicles, parts, and accessories are sold through distributors and dealers (collectively, ‘dealerships’), the substantial majority of which are independently owned. In addition to the products the company sells to its dealerships for retail sale, the company also sells vehicles to its dealerships for sale to fleet customers, including commercial fleet customers, daily rental car companies, and governments. It also sells parts and accessories, primarily to its dealerships (which in turn sells these products to retail customers) and to authorized parts distributors (which in turn primarily sell these products to retailers). The company also offers extended service contracts. Seasonality: Historically, the company has experienced some seasonal fluctuation in the business, with production in many markets tending to be higher in the first half of the year to meet demand in the spring and summer (typically the strongest sales months of the year). Intellectual Property: The company owns or holds licenses to use various patents, copyrights, and trademarks on a global basis. The company has approximately 30,400 active patents and pending patent applications. Competition: The company’s main competitors include Fiat Chrysler Automobiles; General Motors Company; Honda Motor Company; Hyundai-Kia Automotive Group; PSA Peugeot Citroen; Renault-Nissan B.V.; Suzuki Motor Corporation; Toyota Motor Corporation; and Volkswagen AG Group. Financial Services Sector Ford Motor Credit Company LLC: The company’s wholly-owned subsidiary Ford Motor Credit Company LLC offers automotive financing products to and through automotive dealers worldwide. The predominant share of Ford Motor Credit Company LLC’s business consists of financing its vehicles and supporting its dealers. As a result of these financing activities, Ford Motor Credit Company LLC has a portfolio of finance receivables and operating leases which it classifies into two portfolios— ‘consumer’ and ‘non-consumer’. Finance receivables and operating leases in the consumer portfolio include products offered to individuals and businesses that finance the acquisition of its vehicles from dealers for personal and commercial use. Retail financing includes retail installment sale contracts for new and used vehicles and direct financing leases for new vehicles to retail customers, government entities, daily rental car companies, and fleet customers. Finance receivables in the non-consumer portfolio include products offered to automotive dealers. Ford Credit makes wholesale loans to dealers to finance the purchase of vehicle inventory, as well as loans to dealers to finance working capital and improvements to dealership facilities, finance the purchase of dealership real estate, and finance other dealer vehicle programs. Ford Credit also purchases receivables generated by the company and its subsidiaries, primarily related to the sale of parts and accessories to dealers, receivables from Ford-related loans, and certain used vehicles from daily rental fleet companies. Ford Credit does business in the United States and Canada through business centers. Ford Credit’s European operation is managed through its United Kingdom-based subsidiary, FCE Bank plc (FCE). Research and Development The company engages in engineering, research, and development primarily to improve the performance (including fuel efficiency), safety, and customer satisfaction of its products, and to develop new products. Its engineering, research, and development expenses for 2014 included $6.9 billion. History Ford Motor Company was founded in 1903.
ford motor co (F:New York)
One American Road
Dearborn, MI 48126
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