Ford Posts First Quarter 2014 Pre-Tax Profit of $1.4 Billion, Net Income of $989 Million; Global New Product Launches on Track+

• First quarter pre-tax profit of $1.4 billion, a decrease of $765 million compared with a year ago; after-tax earnings per share of 25 cents, excluding special items; 19th consecutive profitable quarter
• First quarter net income of $989 million, or 24 cents per share, a decrease of $622 million compared with a year ago, including pre-tax special item charges of $122 million
• Solid results overall; quarter adversely impacted by several significant factors not representative of underlying business run rate
• Automotive operating-related cash flow of $1.2 billion. Ford ended first quarter with Automotive gross cash of $25.2 billion, exceeding debt by $9.5 billion, and a strong liquidity position of $36.6 billion
• Wholesale volume and revenue both increased from a year ago, with continued market share gains in Asia Pacific, driven by record market share in China
• Asia Pacific reported record profit for any quarter; North America and Middle East & Africa were profitable; Europe reduced its loss by more than half and South America incurred a larger loss compared with a year ago
• Ford Credit once again delivered solid results
• Ford affirms its full-year pre-tax profit guidance of $7 billion to $8 billion as it launches 23 new global vehicles, the most in a single year in its history; Automotive revenue to be about the same as last year; Automotive operating margin to be lower; and Automotive operating-related cash flow to be positive but substantially lower than 2013