FORD CREDIT TOPS SATISFACTION STUDY, SEES GROWTH IN VEHICLE FINANCING (DUH)

TORONTO, November 19, 2001 – With today’s low interest rates, an increasing number of Canadians are choosing to buy their next vehicle, rather than lease, said the president of Ford Credit Canada. “Vehicle purchase financing is growing and Ford Credit is the industry leader when it comes to customer satisfaction with initial consumer loans and leases,” said Peter Sinuita, citing a recent J.D. Power and Associates study that found 33 percent more Canadians chose to purchase their new vehicles in 2001, compared to last year.

Sinuita told the Canadian Auto Dealership Conference today that 32 percent of Ford customers are financing their purchases through Ford Credit, compared to 26 percent in 2000. While still popular, retail leasing has leveled off to 37 percent, down from 41 percent in 2000.

“Our current Ford Drives Canada campaign offers interest-free purchase financing across a range of new vehicles, including Ford Focus, Taurus, Windstar, Explorer and most F-Series models. This should continue to stimulate growth in retail financing,” he added.

Whether it’s buying or leasing, Ford Credit Canada has a strong, competitive presence in the marketplace. In fact the same J.D. Power and Associates study ranked Ford Credit Canada as the leader in customer satisfaction.

The 2001 Canadian Consumer Financing Satisfaction Stud noted: “For the third consecutive year, Ford Credit ranks highest in initial vehicle loan satisfaction (and) also ranks highest in initial auto lease satisfaction for the second year in a row.”

J.D. Power and Associates said the strong satisfaction scores are attributable to Ford Credit’s “ability to meet customer financing needs through competitive loan and lease rates…and efficiently guide its customers through the completion of their loan or lease applications.”

Ford Credit Canada’s bilingual customer service and business operations headquarters is located in Edmonton where director Evelyn Sanders attributed the strong survey results to her team’s focus on responding to the needs of customers and dealerships alike.

Sanders said the Edmonton Service Centre resolves approximately 70 percent of all customer and dealership inquiries – ranging from account status questions to setting-up electronic funds transfers – on the first call. She added the Centre responds to 80 percent of telephone calls within 20 seconds.

“The 225 employees of the Ford Credit Edmonton Service Centre have the latest communications and information technology which they utilize 14 hours a day, six days a week,” she said.

For its study, J.D. Power and Associates surveyed more than 6,000 Canadians who purchased or leased new or used 1998 to 2001 model-year vehicles from many automakers. Sinuita and Sanders praised the entire Ford Credit Canada team – particularly financial services personnel among Ford of Canada’s 532 dealerships – for the positive survey results.