DEARBORN, Mich. -- Ford Motor Co.'s financial services group earned $289.3 million in the second quarter, a record for any quarter and 58% of Ford Motor's total income of $502.4 million.
The financial services group earned $243.4 million in the second quarter of last year, which partly offset the auto operations' $566.9 million loss.
Included in the latest profit was $230 million from Ford Motor Credit Co., the company's main auto financing arm. The unit's net income was up 23% from the second quarter last year. Also in the financial group are Associates Corp., U.S. Leasing International, and First Nationwide Financial Corp., which lost $16 million in the second quarter compared with a $7 million loss a year earlier.