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Management’s Discussion and Analysis of Financial Condition and Results of Operations
52 Ford Motor Company | 2008 Annual Report
7!2+6227! R7 !2. !77 7!$ 7. 87- !7  !.-72.) 7.$2 !7.!7
3,!7. 87! 7-7. 87.7!$.-7(.-$7!);777
7
"7 7B7.7@D77 7 7 7 7!.!.-7" . 2 7727!2. !7.!7!2.!2 77-9-!(7
. ;777
2
%2+*;77#!7$-7!7.7 7,.)72!7-!2. 7!7 7*! 7" . 7.7...7$!7 7
7$. 77B>>K7.$7.727$7.7.-. 7! 7!7$277.,.727$--9!7
$)7.7 .! !.-7"*/7 72.--8727$-9!! 7(!-;77&!7! 7!7$278723!7,! 7 7
,.)72!7-!2. 87.$7.7!!!. 7$ !7!7.$ !7(.-$77$7$--9!7 $)7.7 .! !.-7"*/7E.7
!$7!7 7@D77 7 7 7 7!.!.-7" . 2 5;77!!7 7.!-9.!72.) 7! !87
7! 7  7! 7*;";7.7..!.7!( 2 7!7. !7-.77(.3!-! ;777.7$- 77 !7  !877
! 7-$7 . 7 7. !7-.7 -!7,.7!2.!7.7,7.77! 77.79 .17.77
=B;@73!--!7!77$. 7B>>K7!.!.-7 . 2 ;77&!7.7 7 7.2$ 737,!7 7.!7(.-$77
 .!7(!-7-!7!77! R7-.7 -!87!2.!-7$--9!7 $)7.7 .! !.-7"*/8717 !7.!7(.-$;77
"7:!$.-7!):7!$!7.3(77.! !.-7!2. !7.!7 7!!!. 7.7!7.$ !7(.-$;777
7
 7 7 !277 7!2.!2 877! 7 !2. 7 . 7.77 7.7!7 7.$ !7(.-$77 7!2.!7
(!-7.$27!7 7!2.!2 7  !7,$-7.(7.7 7.!7(.-$7 !2. 737.3$ 7=G>72!--!;7777
 .7! 7!.7!7 7 $7. 77 7!2.!7(!-7.$27!7 7!2.!2 7  !7,$-7.(7
.7 7.!7(.-$7 !2. 737.3$ 7=D>72!--!;7777 .7! 7!.7!7 7!$ 7. 7.$27!7
7!2.!2 7  !7,$-7.(7.7 7.!7(.-$7 !2. 737.3$ 7=@>>72!--!;777
7
$-7!7-!7!7 77.-77B>>KP7,(87,73-!(7 . 7 7$7! 7!7$277
27$--9!7 $)7.7 7$ !-! 7(!-7 72.--8727$-9!! 7(!-7!72. ;77&72!7-!2. 7
,.)7$ 7!7 77.-77B>>K7.7.$ !7(.-$7.(7.-7-!7!2.!-7. !3$ .3-7 7.7.7
(7(!-;77471 7.$ !7(.-$772.--8727$-9!! 7(!-7 7!2(7!7 7$ $P7,(87!7
..7,! 7$72.-787,7(!,7 7.$.77$7.$2$-. 7!. !7.87$!7 77
.-77B>>K87!.7$7!. !7. 77 .!7(!-7,! !7$7. !7-.7 -!7.7.!. ;777
.! !.-7!2. !77!$.-7!)77. !7-.877 7:! !.-7$ !7 !2. 7L7$2$-. 7
!. !77/!-7"$3% 7 7. !7.;:7
7
- $7. 7 !7 !27,77 7. !!. 7.! !.-7!2.!2 7.87.7 !. !77 73$!7-!2. 7,$-7
!2. 7 7.$2 !7,7$7!7$ $7!2.!2 7  !7.7$-7$- 7!7.! !.-7!2.!2 ;7
6
.-,#- 666%-0662
2
+!22.+2!6777 .17. 7.7-!.3!-! !7.7!73.77 7$ $7 .17$7
. !3$ .3-7 7 2.7!7 . 71! 73 ,7 7!.!.-7 . 2 7.!7(.-$77. 7.7-!.3!-! !7.7
!7 !(7 .173.87.7. !7-7.7 .17! 7.,.77.7 .1!7%$!! !73.!;77472.$7
7 .17. 7.7-!.3!-! !7$!7. 7 .17. 7 . 7,!--7.-7!7 7.7!7,!7,71 7 7 2.7
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7
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