Financial Recovery Plan
We are continuing to accelerate our plan to return to financial profitability in North America and achieve sustainable profitable growth in all the markets we serve. We are achieving this goal by focusing on four key priorities: aggressively restructure to operate profitably at the current demand and changing model mix; accelerate development of new products our customers want and value; finance our plan and improve our balance sheet; and work together effectively as one team.
In November 2007, Ford workers represented by the UAW ratified a new contract with Ford. This contract will significantly improve Ford's competitiveness and allow the Company to continue to pursue its restructuring efforts. Key features include a new approach to employee and retiree health care and the ability to increase manufacturing flexibility and accelerate new product development through development of flexible body shops in the U.S.