Ford Q1 Sales are up 85%
Ford is motoring along. Their sales soared 85% in the first quarter in a country where they are still the biggest foreign automaker – Russia.
Their Focus compact sedan led the way complemented by an expanded credit program and new corporate customers.
Last quarter Ford sold about 8,600 cars compared almost 16,000 the first quarter of this year.
What Ford had better hope for is that none of that credit is from Russian banks.
I also read today that about three fourths of Russian banks have charter capital below $6 million. I am not very smart about these things, but that seems pretty low to me … for a bank.
What happens to Ford when enough people default on the loans and the banks can’t cover it either?
I am sure Ford doesn’t want to know.
What do you think?
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