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Management’s Discussion and Analysis of Financial Condition and Results of Operations
Ford Motor Company | 2008 Annual Report 39
7! R7$77"7!7! 7$! !. !7!7!  7,! 7( !.-7. !7!7 7$! !. !7!$ ;77
7! 77 7"7$7!7.--77! 7$! !. !7.27,! 7 71 !773.)97$! ;77
777! R7!87! 772-7-7.7$! 7!  7!7! 7"77!(7.7! 77
!! 72. !727 7";77&7"77 7,77! R7.77.77.77! 7.!-!. ;777
'77 737-!!3-77!-$!7!7.7$! !. !7 .. !87.7. 72$ 7. !7 .!7-!!3!-! 7! !.7
!77 7!!7 .. !;7771.2-877$! !. !77 .!-7! .--2 7.-7 . 87 7- !7
! !.72.7373.77. 7$7.7-. !77 73-!87 . 7 287.2 7$-87!  7. 87!.!7
.287 7 77!.7(!-87.7, 7 7 . 7.7. !(7.7!77 .!7E;;87,7 73-!7!7
 727 .7D>9.7-!$ 773.)$ 5;77.--877! 7- 7 7. 7 737!-$7!7.7. !$-.7
$! !. !7.2-727! 7 !7 -!77. 7 . 7. !7 7.-!.3-7-!!3!-! 7! !.;77"!!7. 7.7
$$.--7 7! !!7$ !-7 72 7!7,!7 7$! !. !7$;777
7
7! 7(!7(.!$7277! 7.2 7 7$7 7!)77-77$! !. !7!( ;77! 7
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.2$ 77-. 7. 93.)7$! !587. 7.7(7$87$3!. 7$! !87.717.7
E,7!  7-- !77 7$! !7. 717 7-. 77.7187!-$!7!  7.2 77
7-. 7. 93.)7$! !5;777! 72.7.-7(!7.2 7.2 7 . 7!.7 7-!)-!77
7 !2-7.2 77!  7.7 7.2 77!!.-7. 72. $! ;77.2 7.2 7!-$7!-7$-2 7
..2 87!  7. 7,.87-!$!! 7.!-! !87.7 .!7.7! ;777! 7.77! 71$7 7
2-!7!$.72.!7E!$.72.!7 . 7. 7!7.7!-7!$ 7.7$.. 7 7 !2-7
.2 7737!!.-7.7!  7,7.7!$7.$- 5;7
7
7! 7 .!7!  7!7! 7$! !. !7 .. !87!-$!7!7.7$3!. 7$! !7!$737
7"87! 7 7.7-77 73! 77 7$! !. !7!( 7E71.2-87.7(7$57.7!$.-7
!  ;77!$.-7!  7 7 7! 7 7!(7-- !77 7$! !7. 7!7177.2$ 7
7 7.7$! !. !7!( 7.7 7.7 7 .. !7. !!. 7.71;777! 7 .!7! 7
!)7!7$! !. !73.$7! 7 .!7!  7!-$7 72 7$3!. 7!  7!7 7$! !7. 87.7
.7 $ $7 7.3371 7! 7-77 7$! !7. 737.7-7,$-7371!737
!( ;77.77. 71!877! 71 7 . 7.7-7!7 7-77$! !7. 7,$-7-!)-737
-!2! 7 7! 7 .!7!  ;7
7
7! 7!7.7.7(!7 7-- 7.7(!7 7$! !7. ;77' 7(!!7$ !7!-$7-- !7
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