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• Net loss of $5.9 billion, or $2.46 per share, for the fourth quarter of 2008 amid a sharp global decline in vehicle demand; pre-tax loss of $3.7 billion from continuing operations, excluding special items. ++
• Reduced Automotive costs by $1.4 billion in fourth quarter and $4.4 billion in 2008 versus year-ago levels.  Achieved $5.1 billion in North America cost reductions at year-end 2008 compared with 2005, excluding favorable impact of depreciation and amortization from asset impairment at the end of the second quarter.  
• Decisively reduced global dealer stocks by more than 50,000 vehicles compared with the third quarter.  Ford now has among the lowest days’ supply in the industry.    
• Product transformation continues to gain strength, helping the company to gain market share in Europe for fourth quarter and full year, and in the U.S. in the fourth quarter.
• Total liquidity of $24 billion, including Automotive gross cash of $13.4 billion, at Dec. 31, 2008. +++
• Ford is drawing its available credit lines due to concerns about the instability of the capital markets with the uncertain state of the economy.  The $10.1 billion will be added to company cash for the first quarter 2009.
• The United Auto Workers union has agreed to end the “jobs bank” at Ford.  The company and the union are presently working out the details of implementation.
• Based on current planning assumptions, Ford has sufficient Automotive liquidity to fund its business plan and product investments and does not need a bridge loan from the U.S. government.
• Ford remains on track for both its overall and its North American Automotive pre-tax results to be at or above breakeven in 2011, excluding special items. 

See end notes on page 11.

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