Ford Posts Third Quarter 2009 Net Income of $1 Billion; Cash Flow Turns Positive; North America Profitable


Ford Motor Company [NYSE: F] releases its preliminary third quarter 2009 financial results at 7 a.m. EST today. The following briefings will be conducted after the announcement:

At 9 a.m. EST, Alan Mulally, Ford president and chief executive officer, and Lewis Booth, Ford executive vice president and chief financial officer, will host a call for the investment community and news media to discuss third quarter results.

At 11 a.m. EST, Bob Shanks, Ford vice president and controller, Neil Schloss, Ford vice president and treasurer, and K.R. Kent, Ford Motor Credit Company vice chairman and chief financial officer, will host a conference call for fixed income analysts and investors.

The presentations (listen-only) and supporting materials will be available on the Internet at Representatives of the news media and the investment community participating by teleconference will have the opportunity to ask questions following the presentations.

Access Information - November 2, 2009

Earnings Call: 9 a.m. EST

Toll Free: 866-356-4123

International: 617-597-5393

Earnings Passcode: "Ford Earnings"

Fixed Income: 11 a.m. EST

Toll Free: 866-730-5766

International: 857-350-1590

Fixed Income Passcode: 70059906 (Please note the new password)

Replays - Available after 2 p.m. the day of the event through Nov. 9

Toll Free: 888-286-8010

International: 617-801-6888


Earnings: 29481628

Fixed Income: 55865600

Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 200,000 employees and about 90 plants worldwide, the company's brands include Ford, Lincoln, Mercury and Volvo. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit

# # #

+ The financial results discussed herein are presented on a preliminary basis; final data will be included in Ford's Quarterly Report on Form 10-Q for the quarter ended September 30, 2009. "Net income" and "Net loss" herein refer to "Net income/(loss) attributable to Ford" on our Statement of Operations, reflecting new presentation required by new accounting standards. 2008 results have been adjusted for the effect of new accounting standards, and for the reclassification of certain Financial Services sector revenue items. Discussion of overall Automotive cost changes, including structural cost changes (e.g., manufacturing and engineering, pension/OPEB, overhead, etc.), is at constant 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 constant volume and mix. 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").

++ See the tables following "Safe Harbor/Risk Factors" for reconciliation of Automotive gross cash and operating-related cash flow to GAAP.

+++ Excluding 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:

    --  Continued or worsening financial crisis;
    --  Further declines in industry sales volume, particularly in the United
        States or Europe, due to financial crisis, deepening recessions,
        geo-political events, or other factors;
    --  Decline in market share;
    --  Continued or increased price competition resulting from industry
        overcapacity, currency fluctuations, or other factors;
    --  A further increase in or acceleration of market shift away from sales of
        trucks, SUVs, or other more profitable vehicles, particularly in the
        United States;
    --  A return to elevated gasoline prices, as well as the potential for
        volatile prices or reduced availability;
    --  Lower-than-anticipated market acceptance of new or existing products;
    --  Fluctuations in foreign currency exchange rates, commodity prices, and
        interest rates;
    --  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;
    --  Restriction on use of tax attributes from tax law "ownership change";
    --  Economic distress of suppliers that may require us to provide financial
        support or take other measures to ensure supplies of components or
        materials and could increase our costs, affect our liquidity, or cause
        production disruptions;
    --  Single-source supply of components or materials;
    --  Labor or other constraints on our ability to restructure our business;
    --  Work stoppages at Ford or supplier facilities or other interruptions of
    --  Pension and postretirement health care and life insurance liabilities
        impairing our liquidity or financial condition;
    --  Inability to implement the Retiree Health Care Settlement Agreement
        regarding UAW hourly retiree health care;
    --  Worse-than-assumed economic and demographic experience for our
        postretirement benefit plans (e.g., discount rates or investment
    --  Discovery of defects in vehicles resulting in delays in new model
        launches, recall campaigns or increased warranty costs;
    --  Increased safety, emissions, fuel economy, or other regulation resulting
        in higher costs, cash expenditures, or sales restrictions;
    --  Unusual or significant litigation or governmental investigations arising
        out of alleged defects in our products or otherwise;
    --  A change in our requirements for parts or materials subject to long-term
        supply arrangements that commit us to purchase minimum or fixed
        quantities of parts or materials, or to pay a minimum amount to the
        seller ("take-or-pay" contracts);
    --  Adverse effects on our results from a decrease in or cessation of
        government incentives;
    --  Adverse effects on our operations resulting from certain geo-political
        or other events;
    --  Substantial negative Automotive operating-related cash flows for the
        near- to medium-term affecting our ability to meet our obligations,
        invest in our business, or refinance our debt;
    --  Substantial levels of Automotive indebtedness adversely affecting our
        financial condition or preventing us from fulfilling our debt
        obligations (which may grow because we are able  to  incur  substantially
                more  debt,  including  secured  debt);
        --    Failure  of  financial  institutions  to  fulfill  commitments  under  committed
                credit  facilities;
        --    Ford  Credit's  need  for  substantial  liquidity  to  finance  its  business;
        --    Inability  of  Ford  Credit  to  obtain  competitive  funding;
        --    Inability  of  Ford  Credit  to  access  debt,  securitization,  or  derivative
                markets  around  the  world  at  competitive  rates  or  in  sufficient  amounts
                due  to  additional  credit  rating  downgrades,  market  volatility,  market
                disruption,  or  other  factors;
        --    A  prolonged  disruption  of  the  debt  and  securitization  markets;
        --    Higher-than-expected  credit  losses;
        --    Increased  competition  from  banks  or  other  financial  institutions  seeking
                to  increase  their  share  of  financing  Ford  vehicles;
        --    Collection  and  servicing  problems  related  to  finance  receivables  and  net
                investment  in  operating  leases;
        --    Lower-than-anticipated  residual  values  or  higher-than-expected  return
                volumes  for  leased  vehicles;
        --    New  or  increased  credit,  consumer,  data  protection,  or  other  regulation
                resulting  in  greater  costs  or  financing  restrictions;
        --    Inability  to  implement  our  plans  to  further  reduce  structural  costs  and
                increase  liquidity.

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