Financial Reports and SEC Filings

Ford Motor Credit Company
In line with expectations, lower fourth quarter pre-tax results compared with a year ago reflected mainly lower credit loss reserve reductions and lower financing margin as higher-yielding assets originated in prior years run off.

The decline in full year pre-tax profit is more than explained by fewer lease terminations, resulting in fewer vehicles sold at a gain, and lower financing margin.

For 2013, Ford Credit projects full year pre-tax profit about equal to 2012; managed receivables at year end in the range of $95 billion to $105 billion; managed leverage to continue in the range of 8:1 to 9:1; and planned distributions of about $200 million.

Fourth Quarter, Full Year 2012 and First Quarter 2013 Production Volumes

In the fourth quarter, total company production was about 1.5 million units, 125,000 units higher than a year ago. This is 13,000 units higher than Ford's most recent guidance.

For the full year, Ford produced 5.7 million units, up 54,000 from a year ago.

The company expects first quarter production to be about 1.6 million units, up 160,000 units from a year ago, reflecting higher volume in all regions except Europe. Compared with the fourth quarter, first quarter production is up 72,000 units.

OUTLOOK

Ford's planning assumptions and key metrics include the following:

Ford remains focused on delivering the key aspects of the One Ford plan, which are unchanged:

1. Aggressively restructuring to operate profitably at the current demand and changing model mix
2. Accelerating the development of new products that customers want and value
3. Financing the plan and improving the balance sheet
4. Working together effectively as one team, leveraging Ford's global assets

“Our focus this year will be to continue our strong performance in North America and at Ford Credit,  while at the same time, addressing challenges and opportunities in other parts of our business,” said Bob Shanks, Ford chief financial officer. “In Europe this means executing our transformation plan, while in South America we will continue to refresh our entire product line-up, and in Asia Pacific we will continue to invest for even stronger, profitable growth in the future.”

Overall, the company expects 2013 to be another strong year, as it continues to work toward its mid-decade outlook.

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+        The financial results discussed herein are presented on a preliminary basis; final data will be included in Ford's Annual Report on Form 10-K for the year ended Dec. 31, 2012.  The following information applies to the information throughout this release:

1. Pre-tax operating results exclude special items unless otherwise noted.
2. See tables following the “Safe Harbor/Risk Factors” for the nature and amount of special items, and reconciliation of items designated as “excluding special items” to U.S. generally accepted accounting principles (“GAAP”).  Also see the tables for reconciliation to GAAP of Automotive gross cash, operating-related cash flow and net interest.
3. Discussion of overall Automotive cost changes is measured primarily at present-year exchange and excludes special items and discontinued operations; in addition, costs that vary directly with production volume, such as material, freight, and warranty costs, are measured at present-year volume and mix. 
4. Wholesale unit sales and production volumes include the sale or production of Ford-brand and JMC-brand vehicles by unconsolidated affiliates. JMC refers to our Chinese joint venture, Jiangling Motors Corporation. See materials supporting the Jan. 29, 2013 conference calls at www.shareholder.ford.com for further discussion of wholesale unit volumes.

++        Excludes special items.
+++     Excludes special items and “Income/(Loss) attributable to non-controlling interests.”  See tables following “Safe Harbor/Risk Factors” for the nature and amount of these special items and reconciliation to GAAP. 
 

Safe Harbor/Risk Factors

Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation:

1. Decline in industry sales volume, particularly in the United States or Europe, due to financial crisis, recession, geo-political events, or other factors; 
2. Decline in market share or failure to achieve growth;
3. Lower-than-anticipated market acceptance of new or existing products;
4. An increase in or acceleration of market shift beyond our current planning assumptions from sales of trucks, medium- and large-sized utilities, or other more profitable vehicles, particularly in the United States; 
5. An increase in fuel prices, continued volatility of fuel prices, or reduced availability of fuel;
6. Continued or increased price competition resulting from industry overcapacity, currency fluctuations, or other factors; 
7. Adverse effects from the bankruptcy, insolvency, or government-funded restructuring of, change in ownership or control of, or alliances entered into by a major competitor;
8. Fluctuations in foreign currency exchange rates, commodity prices, and interest rates;
9. Economic distress of suppliers that may require us to provide substantial financial support or take other measures to ensure supplies of components and could increase our costs, affect our liquidity, or cause production constraints or disruptions;
10. Single-source supply of components or materials;
11. Labor or other constraints on our ability to maintain competitive cost structure;
12. Work stoppages at Ford or supplier facilities or other interruptions of production;
13. Substantial pension and postretirement health care and life insurance liabilities impairing our liquidity or financial condition;
14. Worse-than-assumed economic and demographic experience for our postretirement benefit plans (e.g., discount rates or investment returns);
15. Restriction on use of tax attributes from tax law "ownership change;" 
16. The discovery of defects in vehicles resulting in delays in new model launches, recall campaigns, reputational damage, or increased warranty costs;
17. Increased safety, emissions, fuel economy, or other regulation resulting in higher costs, cash expenditures, and/or sales restrictions;
18. Unusual or significant litigation, governmental investigations or adverse publicity arising out of alleged defects in our products, perceived environmental impacts, or otherwise;
19. A change in our requirements for parts where we have long-term supply arrangements committing us to purchase minimum or fixed quantities of certain parts, or to pay a minimum amount to the seller ("take-or-pay" contracts);
20. Adverse effects on our results from a decrease in or cessation or clawback of government incentives related to investments;
21. Adverse effects on our operations resulting from certain geo-political or other events;
22. Inherent limitations of internal controls impacting financial statements and safeguarding of assets;
23. Substantial levels of Automotive indebtedness adversely affecting our financial condition or preventing us from fulfilling our debt obligations;
24. Failure of financial institutions to fulfill commitments under committed credit facilities;
25. Inability of Ford Credit to access debt, securitization, or derivative markets around the world at competitive rates or in sufficient amounts due to credit rating downgrades, market volatility, market disruption, regulatory requirements, or other factors;
26. Higher-than-expected credit losses;
27. Increased competition from banks or other financial institutions seeking to increase their share of financing Ford vehicles;
28. Collection and servicing problems related to finance receivables and net investment in operating leases;
29. Lower-than-anticipated residual values or higher-than-expected return volumes for leased vehicles;
30. Imposition of additional costs or restrictions due to the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Act") and its implementing rules and regulations;
31. New or increased credit, consumer, or data protection or other regulations resulting in higher costs and/or additional financing restrictions; and
32. Inability of Ford Credit to obtain competitive funding.  

Ford cannot be certain that any expectation, forecast, or assumption made in preparing forward-looking statements will prove accurate, or that any projection will be realized.  It is to be expected that there may be differences between projected and actual results.  Ford's forward-looking statements speak only as of the date of initial issuance, and Ford does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.  For additional discussion of these risks, see "Item 1A . Risk Factors" of Ford's Annual Report on Form 10-K for the year ended December 31, 2011.

CONFERENCE CALL DETAILS

Ford Motor Company [NYSE:F] releases its preliminary fourth quarter 2012 financial results at 7 a.m. EST today.  The following briefings will be held after the announcement:

• At 9 a.m. EST, Alan Mulally, Ford president and CEO, and Bob Shanks, Ford executive vice president and chief financial officer, will host a conference call for the investment community and news media to discuss the 2012 fourth quarter and full-year results.

• At 11 a.m. EST, Neil Schloss, Ford vice president and treasurer, Stuart Rowley, Ford vice president and controller, and Mike Seneski, chief financial officer, Ford Motor Credit Company, will host a conference call for fixed income analysts and investors.

Listen-only presentations and supporting materials will be available on the Internet at www.shareholder.ford.com.  Representatives of the news media and the investment community participating by teleconference will have the opportunity to ask questions following the presentations.

Access Information — Tuesday, Jan. 29, 2013
Earnings Call: 9 a.m. (EST)
Toll Free: 1.866.318.8613
International: 1.617.399.5132
Earnings Passcode: Ford Earnings

Fixed Income: 11 a.m. (EST)
Toll Free: 1.866.515.2907
International: 1.617.399.5121
Fixed Income Passcode: Ford Fixed Income

Replays — Available after 2 p.m. the day of the event through Tuesday, February 5, 2013.  
www.shareholder.ford.com
Toll Free: 1.888.286.8010
International: 1.617.801.6888

Replay Passcodes:
Earnings: 37382865
Fixed Income: 87513123

About Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 171,000 employees and 65 plants worldwide, the company's automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit www.ford.com.