Ford Motor Co. hopes to eke out a gain in its U.S. sales this year by offering more loans to young car buyers, a senior company official said on Sunday.
Steve Lyons, head of the automaker’s core Ford Division, spoke of the change in policy toward young buyers — and an easing of some previous restrictions on loans — in remarks to reporters on the sidelines of the annual convention of the National Automobile Dealers Association.
“Ford Credit is doing some things for young buyers that we think will make a difference,” Lyons said, referring to Ford’s financial arm.
Among other moves to ease its lending policies, Lyons said Ford Credit was “changing the way they look at debt to income ratios for young buyers.”
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