Ford 2008 Annual Report Download - page 6

FUEL
EFFICIENCY
CO2
LOWER
EMISSIONS
ENGINE
PERFORMANCE
TORQUE
UP TO
2
0 PERCENT FUEL
IMPROVEMENT
UP TO 15 PERCENT
REDUCTION IN
CO2EMISSIONS
IMPROVED
ENGINE
PERFORMANCE
4Ford Motor Company | 2008 Annual Report
ONE Ford has transformed us into a
different auto company: different than others
today and from ourselves a few years ago.
However, the worldwide economic slowdown –
driven by tight credit markets and weak
consumer confidence – has shaken
the foundation of even the strongest
companies, in the automotive sector
and in every other industry.
Certainly, the severe economic
challenges of 2008 had a significant
impact on our results for the year, both in terms
of our operating losses and cash flow. After
earning a profit in the first quarter of 2008,
we had an overall net loss of $14.7 billion for
the year, with $6 billion of that coming in the
fourth quarter. That compares with an overall
net loss of $2.7 billion in 2007. Our worldwide
Automotive revenue was $129.2 billion in 2008,
compared with $154.4 billion in 2007. At year-
end 2008, our total Automotive liquidity was
$24 billion, including gross cash of $13.4 billion.
Fortunately, we began aggressive
restructuring efforts under ONE Ford before
the current crisis began. We eliminated excess
manufacturing capacity, closing plants and
reducing our work force. We negotiated a
new contract with the UAW to improve our
competitiveness. We shifted to a balanced
product lineup offering high quality, proven
safety, excellent fuel economy and good value.
Ford EcoBoost™ Engine
Technology Debuts
One of Ford Motor Company’s key
initiatives to deliver fuel economy
leadership makes its debut this year.
It’s Ford’s clever EcoBoost engine
technology, which delivers significant
gains in fuel economy along with a great
performance drive feel. EcoBoost gives
the Lincoln MKS the power and torque of
a V-8 engine with the fuel economy of a
V-6 engine, thanks to the combination of
turbocharging and direct fuel injection.
The new 3.5-liter V-6 is the first in a wave
of EcoBoost engines coming from Ford.
By 2013, more than 90 percent of Ford’s
North American lineup will be available
with EcoBoost technology.
Ford’s senior management team is focused on continuing to implement the company’s global ONE Ford plan, left to right: Sue Cischke, Ray Day, Nick Smither,
Jim Farley, Lewis Booth, Bennie Fowler, Mike Bannister, Alan Mulally, Mark Fields, John Fleming, John Parker, Derrick Kuzak, Felicia Fields, Joe Hinrichs, Ziad Ojakli,
Tony Brown and David Leitch.
ONE FORD
ONE Ford expands on the company’s four-point
business plan for achieving success globally.
It encourages focus, teamwork and a single
global approach, aligning employee efforts
toward a common definition of success and
optimizing their collective strengths worldwide.
The elements of ONE Ford are:
ONE TEAM: ONE Ford emphasizes the
importance of working together as one team
to achieve automotive leadership, which is
measured by the satisfaction of our customers,
employees and other essential business
partners, such as our dealers, investors,
suppliers, unions/councils and communities.
ONE PLAN: The company’s four-point plan
consists of: balancing our cost structure with
our revenue and market share; accelerating
development of new vehicles that customers
want and value; financing our plan and
rebuilding our balance sheet; and working
together to leverage our resources around
the world.
ONE GOAL: The goal of ONE Ford is to create
an exciting and viable company with profitable
growth for all.