NEWS Contact: Media: Equity Investment Fixed Income Shareholder Inquiries: Bill Collins Community: Investment Community: 1.800.555.5259 or 1.313.390.4866 Larry Heck Dave Dickenson 1.313.845.8540
[email protected] 1.313.594.0613 1.313.621.0881
[email protected] [email protected] [email protected] FOR IMMEDIATE RELEASE FORD REPORTS 4TH QUARTER 2008 NET LOSS OF $5.9 BILLION; GAINED MARKET SHARE IN U.S., EUROPE, ACHIEVED COST TARGET + • 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.