1st Quarter Results

Ford Motor Co
24 April 2008


FORD MAKES SOLID PROGRESS ON PLAN -- $100 MILLION NET INCOME IN FIRST QUARTER
2008 PRELIMINARY RESULTS+

•   Significant progress made on our plan to aggressively restructure to operate 
    profitably, accelerate the development of new products our customers want 
    and value, finance our plan and improve the balance sheet, and work together 
    effectively as one team, leveraging our global assets. 

•  First quarter 2008 net income of $100 million, an improvement of $382 million 
   from a year ago. 

•  Excluding special items++, first quarter pre-tax profit from continuing 
   operations was $736 million, up $669 million from a year ago.   

•  First quarter cost reductions totaled $1.7 billion, including $1.2 billion in 
   North America (at constant volume, mix and exchange; excluding special 
   items).    

•  Strong profitability from Ford Europe and Ford South America; Ford North 
   America improved by nearly $600 million from year-ago levels. ++ 

•  Automotive gross cash of $28.7 billion at March 31, 2008. +++ 

Financial Results Summary                            First Quarter 
 
                                              2008                O/(U) 2007
 
Wholesales (000)++                           1,531                     (119) 
 
Revenue (Bils.)++                           $ 39.4                   $ (3.6)
 
Continuing Operations++
 
Automotive Profits (Mils.)                  $  669                    $  895
 
Financial Services (Mils.)                      67                      (26)
 
  Pre-Tax Profits (Mils.)                   $  736                    $  669
 
After-Tax Profits (Mils.)                      525                       697
 
Earnings Per Share++++                        0.20                      0.29
 
Special Items Pre-Tax (Mils.)               $(416)                    $(303)
 
Net Income
 
After-Tax Profits (Mils.)                    $ 100                     $ 382
 
Earnings Per Share++++                        0.05                      0.20
 
Automotive Gross Cash (Bils.)+++             $28.7                    $(6.5)
 
See end notes on page 7.
 
 
DEARBORN, Mich., April 24, 2008 - Ford Motor Company (NYSE: F) today reported
net income of $100 million, or 5 cents per share, for the first quarter of 2008.
 This compares with a net loss of $282 million, or 15 cents per share, in the
first quarter of 2007.     

The 2008 operating data discussed herein exclude Jaguar Land Rover because it is
held for sale. Jaguar Land Rover and Aston Martin data are, however, included in
the 2007 data, except where otherwise noted. See tables following 'Safe
Harbor/Risk Factors' for the amounts attributable to Jaguar Land Rover and any
necessary reconciliations to U.S. GAAP. 

Ford's first quarter pre-tax operating profit from continuing operations,
excluding special items, was $736 million, up $669 million from a year ago.  On
an after-tax basis, Ford's first quarter operating profit from continuing
operations, excluding special items, was $525 million, or 20 cents per share,
compared with a loss of $172 million, or 9 cents per share, in the same period a
year ago.  

Ford's first quarter revenue, excluding special items, was $39.4 billion, down
from $43 billion a year ago.  Adjusted to exclude Jaguar Land Rover and Aston
Martin from 2007 results, revenue would have been up slightly, with favorable
exchange about offset by lower volume and net pricing. 

Special items reduced pre-tax results by $416 million, or 15 cents per share, in
the first quarter. These primarily reflected charges associated with personnel
actions, dealer reduction actions and the restructuring of our investment in
Ballard.  

Automotive gross cash, which includes cash and cash equivalents, net marketable
securities and loaned securities, was $28.7 billion at March 31, 2008, a
decrease of $5.9 billion from 2007 year-end levels.  The decrease was consistent
with our plan and primarily reflects implementation of the initial part of our
VEBA agreement with the UAW.     

 'The results of this quarter are encouraging, particularly our outstanding
performance in Europe and South America,' said Ford President and CEO Alan
Mulally. 'In the past several years, we have substantially restructured these
businesses.  We believe this is an indication that our efforts to leverage
Ford's global assets across the world will bear fruit.  Going forward, we remain
committed to our key business objectives, including our goal of reaching North
America and overall Automotive profitability in 2009 despite the challenging
economic conditions.'   

The following discussion of first quarter highlights and the results in our
Automotive sector and Automotive segments/business units is on a basis that
excludes special items.  See tables following 'Safe Harbor/Risk Factors' for the
nature and amount of these special items and any necessary reconciliations to
U.S. GAAP.



FIRST QUARTER HIGHLIGHTS:

-   Posted strong profits of $739 million in Ford Europe and $257 million in 
    Ford South America.   

-   Improved Ford North America results by nearly $600 million compared with the 
    first quarter of 2007. 

-   Achieved $1.7 billion in cost savings, including $1.2 billion in Ford North 
    America (at constant volume, mix and exchange; excluding special items). 

-   Improved productivity in North America; achieved agreement to reduce U.S. 
    hourly personnel by an additional 4,200 through our recent enterprise-wide 
    buyout program. 

-   Agreed to sell Jaguar Land Rover to Tata Motors with expected closure in the 
    second quarter. 

-   Further integrated our global Product Development and Purchasing functions.  
    These actions will accelerate new vehicle development, improve quality and 
    reduce costs. 

-   Introduced the Ford Fiesta, our all-new global small car, at the Geneva 
    Motor Show.  Fiesta will be sold in virtually all of our major worldwide 
    markets by 2010. 

-   Improved initial quality in North America by 8 percent in our most recent 
    survey, putting Ford at parity with Honda and Toyota as the best in the 
    industry.  

AUTOMOTIVE SECTOR 


Automotive Sector*                                     First Quarter 
 
 
                                                  2008             O/(U) 2007
 
Wholesales (000)                                 1,531                  (119) 

Revenue (Bils.)                             $     35.0            $     (3.6)
 
Pre-Tax Profits (Mils.)                            669                    895
 
*excludes special items 
 
For the first quarter of 2008, Ford's worldwide Automotive sector reported a
pre-tax profit of $669 million, compared with a pre-tax loss of $226 million
during the same period a year ago.  The improvement was more than explained by
favorable cost performance of $1.7 billion in the quarter, partially offset by
unfavorable changes in volume and mix ($700 million), and currency exchange
($200 million).  The cost performance included favorable net product costs,
manufacturing costs, spending-related costs and expenses for warranty and
retiree health care. 

Worldwide Automotive revenue for the first quarter of 2008 was $35 billion, down
from $38.6 billion a year ago.  Total company vehicle wholesales in the first
quarter were 1,531,000, compared with 1,650,000 units a year ago, down because
of the exclusion of Jaguar Land Rover and Aston Martin volume in 2008 and lower
wholesales in other regions.    

North America: For the first quarter, North America Automotive operations
reported a pre-tax loss of $45 million, compared with a loss of $613 million a
year ago.  The improvement reflected cost reductions of $1.2 billion, including
lower structural and product costs.  These improvements were partly offset by
unfavorable volume and mix, and net pricing.  First quarter revenue was $17.1
billion, down from $18.5 billion a year ago.

South America: For the first quarter, Ford's South America operations posted a
pre-tax profit of $257 million, up from $113 million a year ago.  The
improvement reflected higher net pricing and volume and mix, partially offset by
increased costs, which included higher commodity costs.  First quarter revenue
increased to $1.8 billion, up from $1.3 billion a year ago.   

Ford Europe: For the first quarter, Ford Europe pre-tax profits were $739
million, up from $219 million a year ago.  The improvement was primarily
explained by favorable cost performance and net pricing, partially offset by
unfavorable changes in currency.  First quarter revenue was $10.2 billion, an
improvement from $8.6 billion a year ago.  

Volvo: For the first quarter, Volvo reported a pre-tax loss of $151 million,
compared with a profit of $94 million a year ago.  The decline was mainly due to
unfavorable volume and mix, and changes in currency exchange rates, partially
offset by cost reductions.  First quarter revenue was $4.2 billion, compared
with $4.6 billion a year ago. 

Asia Pacific Africa: For the first quarter, Asia Pacific Africa reported a pre-
tax profit of $1 million, compared with a pre-tax loss of $26 million a year
ago.  The improvement primarily reflected favorable cost performance and higher
profits in China, partially offset by unfavorable exchange and product mix,
primarily in Australia.  First quarter revenue was $1.7 billion, compared with
$1.8 billion in 2006.

Mazda: Ford earned $49 million from its investment in Mazda and associated
operations in the first quarter, compared with $21 million a year ago.  

Other Automotive: Other Automotive, which consists of interest and financing-
related costs, accounted for a first quarter pre-tax loss of $181 million. This
included net interest expense of $472 million and favorable fair market value
adjustments of $291 million, primarily related to the impact of changes in
exchange rates on intercompany loans.  


FINANCIAL SERVICES SECTOR

Financial Services Sector                            First Quarter
 
                                                 2008              O/(U) 2007

Pre-Tax Profits (Mils.)                   $        67           $       (226)
 
Ford Credit
 
     Pre-Tax Profits (Mils.)              $        36           $       (257)
 
     Net Income (Mils.)                            24                   (169)
 
For the first quarter, the Financial Services sector earned a pre-tax profit of
$67 million, compared with a pre-tax profit of $293 million a year ago. 

Ford Motor Credit Company: Ford Motor Credit Company reported net income of $24
million in the first quarter of 2008, down $169 million from earnings of $193
million a year earlier.  On a pre-tax basis, Ford Motor Credit earned $36
million in the first quarter, compared with $293 million a year ago. The
decrease in earnings primarily reflected higher provision for credit losses,
higher depreciation expense for leased vehicles, and higher net losses related
to market valuation adjustments from derivatives.  These were offset partially
by lower expenses primarily related to the non-recurrence of costs associated
with Ford Motor Credit's North American business restructuring initiative and
higher financing margin.  

2008 OUTLOOK

'The remainder of 2008 will be a challenge but we are cautiously optimistic
despite the external challenges,' Mulally said.  'Our plan is working. Our
initial quality is now among the best in the business, the restructuring in
North America is taking hold and we will continue to take actions to stay on our
plan.  Our product pipeline is full.  We look forward to launching the new Ford
Flex, Ford F-150 and the Lincoln MKS in North America, and the new Ford Kuga and
Ford Fiesta in Europe, with the Fiesta coming soon thereafter to China and other
markets around the world.' 

Total Company 2008 Outlook                   Outlook         Comparison to 2007* 
 
Automotive**                                   Loss           Equal to or Better
 
Financial Services                             Profit         Worse
 
    Pre-Tax Operating Results**                Loss           Worse
 
Special Items                                  Loss           Better
 
Pre-Tax Results                                Loss           Better
 
* Adjusted to exclude Jaguar Land Rover and Aston Martin

**Excludes special items. 
 

Ford's 2008 planning assumptions regarding the industry, operating metrics and
profit outlook are as follows: 

2008 Planning Assumptions and Operational Metrics

Planning Assumptions                                Full-Year Plan         Q1 2008           Full-Year Plan 
 
Industry Volumes (SAAR)  - U.S. (Mils.)                       16.0            15.6              15.3 - 15.6 
 
                         - Europe (Mils.)*                    17.6            18.0              17.6 - 18.0
 
Operational Metrics
  
Compared with 2007
  
- Quality                                                  Improve        Improved                  On track
 
- Automotive Costs**                   Improve by about $3 Billion     Improved by $1.7 Billion     On track
 
 
Absolute Amount
  
-  U.S. Market Share (Ford, Lincoln Mercury)    Low end of 14-15% range         15%                 On track
 
-  Operating-Related Cash Flow                                 Negative    $(1.5) Billion           On track
 
-  Capital Spending                                   Around $6 Billion     $ 1.4 Billion           On track
 
*  European 19 markets

** At constant volume, mix and exchange; excludes special items

CONFERENCE CALL DETAILS

Ford Motor Company (NYSE:F) will release first quarter 2008 financial results at
7 a.m. EDT, Thursday, April 24. The following briefings will be held after the
announcement:

At 9 a.m. EDT, Alan Mulally, president and chief executive officer, and Don
Leclair, executive vice president and chief financial officer, will host a
conference call for news media and the investment community to discuss first
quarter results.  

At 11 a.m. EDT, Peter Daniel, Ford senior 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 www.shareholder.ford.com.  Representatives of the news media and
the investment community participating by teleconference will have the
opportunity to ask questions following the presentations.


Access Information - Thursday, April 24

Toll Free: 800-573-4754
International: 617-224-4325 

Earnings: 9:00 a.m. EDT
Earnings Passcode: 'Ford Earnings'  

Fixed Income: 11:00 a.m. EDT
Fixed Income Passcode: 'Ford Fixed Income'

Replays - Available after 2 p.m. the day of the event through Thursday, May 1

www.shareholder.ford.com 

Toll Free: 888-286-8010 
International: 617-801-6888  

Passcodes:

Earnings: 29481628
Fixed Income: 55865600 

Ford Motor Company, a global automotive industry leader based in Dearborn,
Mich., manufactures or distributes automobiles in 200 markets across six
continents.  With about 244,000 employees and about 90 plants worldwide, the
company's core and affiliated automotive brands include Ford, Lincoln, Mercury,
Volvo and Mazda, and until completion of their sale, Jaguar Land Rover.  The
company provides financial services through Ford Motor Credit Company.  For more
information regarding Ford's products, please visit www.ford.com.

                                       # # # 

+      The financial results discussed herein are presented on a preliminary
basis; final data will be included in our Quarterly Report on Form 10-Q for the
quarter ended Mar. 31, 2008.

++     Excluding special items. See tables following 'Safe Harbor/Risk Factors'
for the nature and amount of these special items and reconciliation to U.S.
Generally Accepted Accounting Principles ('GAAP').

+++    See third table following 'Safe Harbor/Risk Factors' for a reconciliation
of Automotive gross cash to GAAP. 

++++   Earnings per share from continuing operations, excluding special items,
is calculated on a basis that includes pre-tax profit and provision for taxes
and minority interest.  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 or incorporated by reference 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 decline in market share; 

-Continued or increased price competition resulting from industry overcapacity,
currency fluctuations or other factors; 

-An increase in or acceleration of market shift away from sales of trucks, sport
utility vehicles, or other more profitable vehicles, particularly in the United
States; 

-A significant decline in industry sales, particularly in the United States or
Europe, resulting from slowing economic growth, geo-political events or other
factors; 

-Lower-than-anticipated market acceptance of new or existing products; 

-Continued or increased high prices for or reduced availability of fuel; 

-Currency or commodity price fluctuations; 

-Adverse effects from the bankruptcy or insolvency of, change in ownership or
control of, or alliances entered into by a major competitor; 

-Economic distress of suppliers that has in the past and may in the future
require us to provide financial support or take other measures to ensure
supplies 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
supplies; 

-Single-source supply of components or materials; 

-Substantial pension and postretirement health care and life insurance
liabilities impairing our liquidity or financial condition; 

-Inability to implement Memorandum of Understanding with UAW to fund and
discharge retiree health care obligations because of failure to obtain court
approval or otherwise; 

-Worse-than-assumed economic and demographic experience for our postretirement
benefit plans (e.g., discount rates, investment returns, and health care cost
trends); 

-The discovery of defects in vehicles resulting in delays in new model launches,
recall campaigns or increased warranty costs; 

-Increased safety, emissions (e.g., CO2), fuel economy, or other regulation
resulting in higher costs, cash expenditures, and/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 where we have entered into
long-term supply arrangements that commit us to purchase minimum or fixed
quantities of certain 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 additional
secured debt); 

-Inability of Ford Credit to access debt or securitization markets around the
world at competitive rates or in sufficient amounts due to additional credit
rating downgrades, market volatility, market disruption or otherwise; 

-Higher-than-expected credit losses;  

-Increased competition from banks or other financial institutions seeking to
increase their share of financing Ford vehicles; 

-Changes in interest rates; 

-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; and 

-New or increased credit, consumer or data protection or other regulations
resulting in higher costs and/or additional -financing restrictions. 


We cannot be certain that any expectation, forecast or assumption made by
management in preparing forward-looking statements will prove accurate, or that
any projection will be realized.  It is to be expected that there may be
differences between projected and actual results.  Our forward-looking
statements speak only as of the date of their initial issuance, and we do not
undertake any obligation to update or revise publicly any forward-looking
statement, whether as a result of new information, future events, or otherwise. 
For additional discussion of these risks, see 'Item 1A. Risk Factors' in our
2007 Form 10-K Report. 

FIRST QUARTER 2008 INCOME / (LOSS) COMPARED WITH 2007

                                                 First Quarter
  
                                             2008            2007
  
Revenue (Bils.)  

Revenue (Excluding Special Items)   $        39.4  $         43.0
 
Special Items*                                4.1               - 
 
  Revenue                           $        43.5  $         43.0
 
Income (Mils.) 
 
Pre-Tax Income/(Loss) from Continuing
  Operations (Excluding Special 
  Items)                            $         736  $           67
 
Special Items*                              (416)           (113) 
 
Pre-Tax Income/(Loss) from Continuing
  Operations                        $         320  $         (46) 
 
Provision for/(Benefit from) Income Taxes      97             181
 
Minority Interest in Net Income of 
   Subsidiaries                               122              58        
 
Income/(Loss) from Continuing Ops.  $         101  $        (285) 
 
Income/(Loss) from Discontinued Ops.          (1)               3 
 
   Net Income/(Loss)                $         100  $        (282) 
 
*        Special items detailed in following table.  

TOTAL COMPANY 
FIRST QUARTER 2008 SPECIAL ITEMS                          

                                              First Quarter 2008
 
                                 Wholesales         Revenue             Pre-Tax Profit / (Loss)
                                      (000)         (Bils.)                             (Mils.)
 
North America 
 
- Personnel Actions and
  Associated Curtailments                                                            $    (223) 
 
- U.S. Dealer Reductions (incl.  
   Investment Write-Off)                                                                  (108)

- Ballard Restructuring/Other                                                              (72) 
 
Total North America                                                                    $  (403)
 
Other Personnel  Actions                                                                   (13)

Jaguar Land Rover                       74          $   4.1                                  0*                         
                     
     Total Special Items                74          $   4.1                           $   (416)
 
 
Memo: Special Items Impact on
  Earnings Per Share**                                                                 $ (0.15)
 

*   Operating profit was essentially offset by an impairment charge.

** Earnings per share for special items is calculated on a basis that includes
pre-tax profit, provision for taxes, and minority interest; additional
information regarding the method of calculating earnings per share is available
in the materials supporting the Apr. 24, 2008 conference calls at

www.shareholder.ford.com.

AUTOMOTIVE GROSS CASH RECONCILIATION TO GAAP 

                                      Dec. 31, 2007           Mar. 31, 2008            Mar. 31, 2008 B/(W)
                                                                                       Dec. 31, 2007
                                            (Bils.)                 (Bils.)                  (Bils.)
 
Cash and Cash Equivalents           $          20.7      $             18.7     $              (2.0)
 
Marketable Securities                           2.0                     6.6                      4.6
 
Loaned Securities                              10.3                     6.7                    (3.6)
 
   Total Cash/Marketable and Loaned 
    Securities                      $          33.0      $             32.0     $              (1.0)
 
Securities-In-Transit                         (0.3)                   (0.7)                    (0.4)
 
Short-Term VEBA Assets*                         1.9                       -                    (1.9)

UAW-Ford Temporary Asset Account                  -                   (2.6)                    (2.6) 
 
Gross Cash                          $          34.6      $             28.7     $              (5.9)
 
*  Historically, amounts accessible within 18 months; short-term VEBA is no
longer reported within gross cash as of Jan. 1, 2008, consistent with our new
UAW VEBA agreement (which is subject to court approval).


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