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## Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued) 

## Financing Shares and Contract Placement Volume 

Our focus is on supporting Ford and Lincoln dealers and customers. This includes going to market with Ford and our dealers to support vehicle sales with financing products and marketing programs. Ford’s marketing programs may encourage or require Ford Credit financing and influence the financing choices customers make. As a result, our financing share, volume, and contract characteristics vary from period to period as Ford’s marketing programs change. 

The following table shows our retail financing and operating lease share of new Ford and Lincoln vehicle sales, wholesale financing share of new Ford and Lincoln vehicles acquired by dealers (in percent), and contract placement volume for new and used vehicles (in thousands) in several key markets: 

<img src='content_image/1043094.jpg'>

__________ (a) United States and Canada exclude Fleet sales, other markets include Fleet. 

In 2020, the United States and China contract placement volume were up compared with a year ago, primarily reflecting higher financing share. In 2020, Canada, the U.K., and Germany contract volume were down compared with a year ago, explained by lower Ford sales. 

