GM and Ford earned most profit from finance, not cars, by 2004

Evidence

In 2004, GM reported that 66% of its 1.3 billion quarterly profits came from GMAC, while a day earlier, Ford reported a loss in its automotive operation but 1.17 billion in net income, mostly from its financing operation ðHakim 2004Þ. — Ken-Hou Lin & Donald Tomaskovic-Devey, Financialization and U.S. Income…, 43