2nd Quarter Results

Ford Motor Co
19 July 2005

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Ford Announces Second-Quarter 2005 Financial Results 

- Net income of 47 cents per share, or $946 million. 

- Earnings from continuing operations of 47 cents per share, or $936 million, 
  excluding special items.* 

- Worldwide automotive pre-tax loss of $245 million, excluding special items. 

- Financial Services sector pre-tax profit of $1.3 billion. 

- Full-year earnings guidance unchanged at $1.00 to $1.25 per share from 
  continuing operations, excluding special items. 

DEARBORN, Mich., July 19 /PRNewswire-FirstCall/ -- Ford Motor Company (NYSE: F)
today reported net income of 47 cents per share, or $946 million, for the second
quarter of 2005. This compares with net income of 57 cents per share, or $1.2
billion, in the second quarter of 2004.

Ford's second-quarter earnings from continuing operations, excluding special
items, were 47 cents per share, or $936 million, compared to 61 cents per share,
or $1.2 billion, in the same period last year.*

Ford's total sales and revenue in the second quarter was $44.5 billion, compared
to $42.9 billion in the year-ago period.

* Earnings per share from continuing operations is calculated on a basis that
includes pre-tax profit and provision for taxes, excluding special items, and
minority interest. See table following 'Safe Harbor/Risk Factors' for the nature
and amount of these special items and reconciliation to GAAP. 

'Despite profitability in most regions, our global automotive results were
disappointing, reflecting the fiercely competitive environment in which we
continue to operate, particularly in North America,' said Chairman and Chief
Executive Officer Bill Ford. 'We are responding to this tougher operating
environment through actions aimed at improving our cost structure, optimizing
our global footprint, strengthening our balance sheet and making essential
investments for the future. We'll continue to share our plans as the year
progresses.'

Actions in the second quarter included:

• Announced plans to further reduce salaried personnel and related costs in 
  North America.  Consolidation of U.K. manufacturing at Jaguar, including 
  personnel separations. Final assembly operations at the Browns Lane plant have 
  ceased and are transitioning to Castle Bromwich.  

• A Memorandum of Understanding with Visteon Corp., Ford's largest supplier. 
  Over time, the agreement will allow the Company to diversify its supply base 
  and enhance its access to parts, systems and technologies that are more 
  competitive. 

• Announced evaluation of strategic options for Hertz Corp., its rental car and
  equipment unit, including a potential partial initial public offering or a sale
  to a third party.

On the product front, Ford continues to deliver more new products with the
recent launch of the 2006 Mercury Mariner Hybrid, Range Rover Sport, and new
diesel-powered cars from Jaguar and Volvo in Europe. On schedule for fall
introductions in North America are the all-new Ford Fusion, Mercury Milan and
Lincoln Zephyr mid-size sedans, the redesigned Ford Explorer and Mercury
Mountaineer and the Mazda MX-5. In Europe, the high-performance Ford Focus ST
will go on sale later this year.

The following discussion of the results of our Automotive sector and Automotive
business units is on a basis that excludes special items. See table following
'Safe Harbor/Risk Factors' for the nature and amount of these special items and
reconciliation to GAAP.

AUTOMOTIVE SECTOR

On a pre-tax basis, worldwide automotive losses in the second quarter were $245
million, down $342 million from a $97 million profit during the same period a
year ago.

Worldwide automotive sales for the second quarter rose to $38.7 billion from
$36.7 billion in the same period last year. Worldwide vehicle-unit sales in the
quarter were 1,718,000, down from 1,751,000 a year ago.

Total cash, including automotive cash, marketable securities, loaned securities
and short-term Voluntary Employee Beneficiary Association (VEBA) assets on June
30, 2005, was $21.8 billion, down from $22.9 billion at the end of the first
quarter. The Company contributed $1.1 billion to its pension plans and long-term
VEBA in the second quarter.

THE AMERICAS

For the second quarter, the Americas reported a pre-tax loss of $819 million,
down $1.3 billion from a $476 million pre-tax profit in the same period a year
ago.

North America: In the second quarter, Ford's North American automotive
operations reported a pre-tax loss of $907 million, down $1.4 billion from a
$454 million pre-tax profit a year ago. Higher costs and lower volumes
contributed to the decline. Sales were $19.9 billion, down $568 million from the
same period a year ago.

South America: Ford's South American automotive operations reported a second-
quarter pre-tax profit of $88 million, an increase of $66 million from a $22
million pre-tax profit a year ago. The improvement primarily reflected higher
volumes and pricing, partially offset by higher commodity costs. Sales for the
second quarter improved to $1 billion from $665 million in 2004.

FORD EUROPE AND PREMIER AUTOMOTIVE GROUP (PAG)

The 2005 second-quarter combined pre-tax profit for Ford Europe and PAG
automotive operations was $83 million, compared with a loss of $136 million for
the year-ago period, an improvement of $219 million.

Ford Europe: Ford Europe's second-quarter pre-tax profit was $66 million,
compared with a pre-tax profit of $211 million during the 2004 period. The
deterioration of $145 million primarily reflected lower net pricing, lower
production volumes, higher material and pension costs and lower profits from
operations in Turkey. These were partially offset by internal cost reductions
and mix improvements. Ford Europe's sales in the second quarter were $7.9
billion, compared with $6.7 billion during the second quarter of 2004.

Premier Automotive Group: PAG reported a pre-tax profit of $17 million for the
second quarter, compared with a pre-tax loss of $347 million for the same period
in 2004. The improvement primarily reflected richer product mix and higher net
revenue, primarily at Land Rover, partially offset by unfavorable exchange.
Second-quarter sales for PAG were $7.9 billion, compared with $6.9 billion a
year ago.

FORD ASIA-PACIFIC and AFRICA/MAZDA

The 2005 second-quarter combined pre-tax profit for Ford Asia-Pacific and
Africa/Mazda was $93 million, compared with $55 million for the year-ago period,
an improvement of $38 million.

Ford Asia-Pacific and Africa: For the second quarter of 2005, Ford Asia- Pacific
and Africa reported a pre-tax profit of $36 million, an improvement of $41
million from a $5 million pre-tax loss a year ago. The results primarily
reflected favorable exchange, higher volumes and improved mix, partially offset
by higher developments costs for future products. Sales were $2 billion, an
improvement of $100 million from $1.9 billion during the second quarter of 2004.

Mazda: During the second quarter of 2005, Ford's share of Mazda profits and
associated operations was $57 million, down from $60 million during the same
period a year ago.

OTHER AUTOMOTIVE

Second-quarter earnings included a profit of $398 million in other automotive
financial results. This is an improvement of $696 million from the same period
last year, primarily reflecting interest income related to tax refunds.

FORD MOTOR CREDIT COMPANY

On a pre-tax basis, Ford Motor Credit earned $1.2 billion in the second quarter,
down $229 million from the previous year. The decline primarily reflected higher
borrowing costs and the impact of lower receivable levels, partially offset by
improved credit loss performance. Ford Motor Credit reported net income of $740
million in the second quarter of 2005, down from $897 million in the same period
a year ago.

HERTZ CORP.

Hertz reported a second-quarter pre-tax profit of $153 million, a $9 million
improvement from the $144 million pre-tax profit from the same period in 2004.
The improvement reflected higher car and equipment rental volumes and higher
proceeds from the disposal of used vehicles and equipment, partially offset by a
highly competitive pricing environment in car rental markets. Net income in the
second quarter for Hertz was $97 million, up from $94 million in the same period
last year.

SPECIAL ITEMS*

In total, special items had no impact on earnings per share in the second
quarter. Charges for Visteon-related actions and personnel reduction programs
reduced earnings per share by 18 cents. These charges were fully offset by non-
recurring adjustments that, in total, significantly reduced the Company's tax
accrual during the quarter. These adjustments primarily reflect prior year
federal and state tax settlements.

* See table following 'Safe Harbor/Risk Factors' for the nature and amount of 
these special items and reconciliation to GAAP.

OUTLOOK

Commenting on the Company's financial outlook, Executive Vice President and
Chief Financial Officer, Don Leclair, said 'We recognize we have more to do in
an environment that continues to be extremely challenging. We will continue to
focus on improving our operating efficiencies and margins.'

The Company's 2005 full-year earnings guidance is unchanged at $1.00 to $1.25
per share. Full-year earnings-per-share guidance excludes the effect of special
items and discontinued operations, which are presently estimated to include the
following items:

    TOTAL COMPANY 2005 FULL-YEAR SPECIAL ITEMS AND DISCONTINUED OPERATIONS

    Special Items                            Full Year EPS
      •  Visteon-Related Charges           $(0.21) - (0.30)
      •  Personnel Reduction Programs
         - North America                             (0.02)
         - PAG                                       (0.03)
         - Further Personnel Reduction Programs       (TBD)
      •  Fuel Cell Technology Charges                (0.05)
      •  Non-Core Businesses Held for Sale           (0.01)
      •  Tax Adjustments                              0.18
    Total Special Items                    $(0.14) -  (TBD)
    Discontinued Operations                           0.02
      Effect of Special Items and          $(0.12) -  (TBD)
      Discontinued Operations

    SECOND-QUARTER RESULTS CONFERENCE CALL - TUESDAY, JULY 19

Executive Vice President and Chief Financial Officer Don Leclair will host a
conference call beginning at 9:00 a.m. ET to discuss second-quarter financial
results.

Following the earnings call, at 11:00 a.m. ET, Ford Vice President and Treasurer
Ann Marie Petach, Ford Credit Vice Chairman and Chief Financial Officer David
Cosper, and Ford Vice President and Controller Jim Gouin will host a conference
call for fixed income analysts and investors.

The presentations (listen-only) and supporting materials also 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
Tuesday, July 19
www.shareholder.ford.com
Toll Free:               800-706-7741
International:           617-614-3471

Earnings:                 9:00 a.m. ET
Earnings Passcode:       'Ford Earnings Call'
Fixed Income:            11:00 a.m. ET
Fixed Income Passcode:   'Ford Fixed Income Call'

Replays
Available through Tuesday, July 26
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,
Michigan, manufactures and distributes automobiles in 200 markets across six
continents. With more than 324,000 employees worldwide, the Company's core and
affiliated automotive brands include Aston Martin, Ford, Jaguar, Land Rover,
Lincoln, Mazda, Mercury and Volvo. Its automotive-related services include Ford
Motor Credit Company and The Hertz Corporation.

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:

    •  greater price competition resulting from currency fluctuations,
       industry overcapacity or other factors;

    •  a significant decline in industry sales, particularly in the U.S. or
       Europe, resulting from slowing economic growth, geo-political events or
       other factors;

    •  lower-than-anticipated market acceptance of new or existing products;

    •  economic distress of suppliers that may require us to provide financial
       support or take other measures to ensure supplies of materials;

    •  work stoppages at Ford or supplier facilities or other interruptions of
       supplies;

    •  the 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 and/or sales restrictions;

    •  unusual or significant litigation or governmental investigations
       arising out of alleged defects in our products or otherwise;

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

    •  currency or commodity price fluctuations, including rising steel
       prices;

    •  changes in interest rates;

    •  an increase in or acceleration of the market shift from truck sales or
       from sales of other more profitable vehicles in the U.S.;

    •  economic difficulties in any significant market;

    •  higher prices for or reduced availability of fuel;

    •  labor or other constraints on our ability to restructure our business;

    •  a change in our requirements or obligations under long-term supply
       arrangements pursuant to which we are obligated to purchase minimum
       quantities or a fixed percentage of output or pay minimum amounts;

    •  additional credit rating downgrades;

    •  inability to access debt or securitization markets around the world at
       competitive rates or in sufficient amounts;

    •  higher-than-expected credit losses;

    •  lower-than-anticipated residual values for leased vehicles and higher-
       than-expected lease return rates; and

    •  increased price competition in the rental car industry and/or a general
       decline in business or leisure travel due to terrorist attacks, acts of
       war, epidemic disease or measures taken by governments in response
       thereto that negatively affect the travel industry.

We cannot assure that any expectations, forecasts or assumptions made by
management in preparing these forward-looking statements will prove accurate, or
that any projections 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 statements, whether
as a result of new information, future events or otherwise.


     TOTAL COMPANY 2005 SECOND QUARTER INCOME FROM CONTINUING OPERATIONS
     COMPARED WITH NET INCOME*

                                              Second Quarter
                                    Earnings                    Memo:
                                      Per          After-Tax   Pre-Tax
                                     Share**        Profit      Profit
                                                   (Mils.)     (Mils.)

    Income from Continuing Operations
     Excluding Special Items          $0.47         $936        $1,052

    Special Items
     -- Visteon-Related Charges     $(0.15)       $(313)        $(318)
     -- Personnel Reduction Programs
        • North America              (0.02)         (41)          (63)
        • PAG                        (0.01)         (21)          (33)

    Fuel Cell Technology Charges        ***         (11)          (11)
    Non-Core Businesses Held for Sale   ***            9            14
    Tax Adjustments****                0.18          384            85

        Total Special Items              $0           $7        $(326)

        Income from Continuing
         Operations                   $0.47         $943          $726

    Discontinued Operations             ***            3
    Net Income                        $0.47        $ 946

    *    Additional reconciling items are available in the materials
         supporting the July 19, 2005 conference calls at
         www.shareholder.ford.com

    **   Earnings per share from continuing operations is calculated on a
         basis that includes pre-tax profit, provision for taxes,
         and minority interest.

    ***  Less than $0.01/$1 million

    **** Primarily reflects prior year federal and state tax settlements



                     FORD MOTOR COMPANY AND SUBSIDIARIES
                       CONSOLIDATED STATEMENT OF INCOME
                 For the Periods Ended June 30, 2005 and 2004
                   (in millions, except per share amounts)

                             Second Quarter              First Half
                            2005         2004         2005         2004
                               (unaudited)               (unaudited)
    Sales and revenues
    Automotive sales       $38,685      $36,661      $78,017      $75,461
    Financial Services
     revenues                5,863        6,212       11,667       12,135
      Total sales and
       revenues             44,548       42,873       89,684       87,596

    Costs and expenses
    Cost of sales           36,713       33,624       72,271       67,678
    Selling, administrative
     and other expenses      6,127        5,920       12,217       11,739
    Interest expense         1,719        1,734        3,683        3,569
    Provision for credit
     and insurance losses     (17)          174          168          527
      Total costs and
       expenses             44,542       41,452       88,339       83,513
    Automotive interest
     income and other
     non-operating
     income/(expense), net     651         (20)          804          125
    Automotive equity in net
     income/(loss) of
     affiliated companies       69           84          126          140
    Income/(loss) before
     income taxes              726        1,485        2,275        4,348
    Provision for/(benefit
     from) income taxes      (301)          261           13        1,080
    Income/(loss) before
     minority interests      1,027        1,224        2,262        3,268
    Minority interests in
     net income/(loss) of
     subsidiaries               84           72          142          157
    Income/(loss) from
     continuing operations     943        1,152        2,120        3,111
    Income/(loss) from
     discontinued operations     3           13           38            6
    Net income/(loss)         $946       $1,165       $2,158       $3,117

    AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK
    Basic income/(loss)
     Income/(loss) from
      continuing operations  $0.51        $0.63        $1.16        $1.71
     Income/(loss) from
      discontinued operations    -         0.01         0.02            -
     Net income/(loss)       $0.51        $0.64        $1.18        $1.71
    Diluted income/(loss)
     Income/(loss) from
      continuing operations  $0.47        $0.57        $1.05        $1.51
     Income/(loss) from
      discontinued operations    -            -         0.01            -
     Net income/(loss)       $0.47        $0.57        $1.06        $1.51
     Cash dividends          $0.10        $0.10        $0.20        $0.20


Certain amounts in prior year's financial statements have been reclassified to 
conform with current year presentation.


                     FORD MOTOR COMPANY AND SUBSIDIARIES
                          SECTOR STATEMENT OF INCOME
                 For the Periods Ended June 30, 2005 and 2004
                   (in millions, except per share amounts)

                            Second Quarter             First Half
                             2005       2004         2005        2004
                               (unaudited)             (unaudited)
    AUTOMOTIVE
    Sales                  $38,685    $36,661      $78,017      $75,461
    Costs and expenses
    Cost of sales           36,713     33,624       72,271       67,678
    Selling, administrative
     and other expenses      3,076      2,832        6,185        5,574
      Total costs and
       expenses             39,789     36,456       78,456       73,252
    Operating
     income/(loss)         (1,104)        205        (439)        2,209

    Interest expense           187        312          589          697

    Interest income and other
     non-operating
     income/(expense), net     651       (20)          804          125
    Equity in net income/(loss)
     of affiliated companies    69         84          126          140
    Income/(loss) before
     income taxes
     - Automotive            (571)       (43)         (98)        1,777

    FINANCIAL SERVICES
    Revenues                 5,863      6,212       11,667       12,135
    Costs and expenses
    Interest expense         1,532      1,422        3,094        2,872
    Depreciation             1,540      1,659        3,054        3,388
    Operating and other
     expenses                1,511      1,429        2,978        2,777
    Provision for credit
     and insurance losses     (17)        174          168          527
      Total costs and
       expenses              4,566      4,684        9,294        9,564
    Income/(loss) before
     income taxes
     - Financial Services    1,297      1,528        2,373        2,571

    TOTAL COMPANY
    Income/(loss) before
     income taxes              726      1,485        2,275        4,348
    Provision for/(benefit
     from) income taxes      (301)        261           13        1,080
    Income/(loss) before
     minority interests      1,027      1,224        2,262        3,268
    Minority interests in
     net income/(loss) of
     subsidiaries               84         72          142          157
    Income/(loss) from
     continuing operations     943      1,152        2,120        3,111
    Income/(loss) from
     discontinued operations     3         13           38            6
    Net income/(loss)         $946     $1,165       $2,158       $3,117

    AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK
    Basic income/(loss)
     Income/(loss) from
      continuing operations  $0.51      $0.63        $1.16        $1.71
     Income/(loss) from
      discontinued operations    -       0.01         0.02            -
     Net income/(loss)       $0.51      $0.64        $1.18        $1.71
    Diluted income/(loss)
     Income/(loss) from
      continuing operations  $0.47      $0.57        $1.05        $1.51
     Income/(loss) from
      discontinued operations    -          -         0.01            -
     Net income/(loss)       $0.47      $0.57        $1.06        $1.51
    Cash dividends           $0.10      $0.10        $0.20        $0.20


Certain amounts in prior year's financial statements have been reclassified to 
conform with current year presentation.


                     FORD MOTOR COMPANY AND SUBSIDIARIES
                          CONSOLIDATED BALANCE SHEET
                                (in millions)

                                                    June 30,    December 31,
                                                      2005         2004
                                                   (unaudited)
    ASSETS
    Cash and cash equivalents                       $30,133       $23,510
    Marketable securities                             8,614         9,507
    Loaned securities                                   734         1,058
    Finance receivables, net                         97,565       110,749
    Other receivables, net                            6,523         5,969
    Net investment in operating leases               33,859        31,763
    Retained interest in sold receivables             5,287         9,166
    Inventories                                      11,550        10,766
    Equity in net assets of affiliated companies      2,861         2,835
    Net property                                     42,281        44,549
    Deferred income taxes                             4,567         4,830
    Goodwill and other intangible assets              6,679         7,271
    Assets of discontinued/held-for-sale operations      23         2,374
    Other assets                                     26,158        29,511
      Total assets                                 $276,834      $293,858

    LIABILITIES AND STOCKHOLDERS' EQUITY
    Payables                                        $23,853       $22,689
    Accrued and other liabilities                    73,911        74,964
    Debt                                            158,441       172,973
    Deferred income taxes                             5,605         6,171
    Liabilities of discontinued/held-for-sale
     operations                                          15           139
      Total liabilities                             261,825       276,936
    Minority interests                                  806           877
    Stockholders' equity
    Capital stock
      Common Stock, par value $0.01 per
       share (1,837 million shares issued)               18            18
      Class B Stock, par value $0.01 per
       share (71 million shares issued)                   1             1
    Capital in excess of par value of stock           5,110         5,321
    Accumulated other comprehensive income/(loss)   (2,611)         1,258
    Treasury stock                                  (1,281)       (1,728)
    Earnings retained for use in business            12,966        11,175
      Total stockholders' equity                     14,203        16,045
      Total liabilities and stockholders' equity   $276,834      $293,858

Certain amounts in prior year's financial statements have been reclassified to 
conform with current year presentation.


                     FORD MOTOR COMPANY AND SUBSIDIARIES
                              SECTOR BALANCE SHEET
                                (in millions)

                                                    June 30,     December 31,
                                                      2005           2004
                                                   (unaudited)
    ASSETS
    Automotive
    Cash and cash equivalents                        $10,812        $10,142
    Marketable securities                              7,607          8,291
    Loaned securities                                    734          1,058
      Total cash, marketable and loaned securities    19,153         19,491
    Receivables, net                                   2,832          2,894
    Inventories                                       11,550         10,766
    Deferred income taxes                              3,356          3,837
    Other current assets                               8,080          8,916
      Total current assets                            44,971         45,904
    Equity in net assets of affiliated companies       1,975          1,907
    Net property                                      40,675         42,904
    Deferred income taxes                              8,646         10,894
    Goodwill and other intangible assets               5,787          6,374
    Assets of discontinued/held-for-sale operations       23            188
    Other assets                                      10,366          9,455
      Total Automotive assets                        112,443        117,626
    Financial Services
    Cash and cash equivalents                         19,321         13,368
    Investments in securities                          1,007          1,216
    Finance receivables, net                         101,256        113,824
    Net investment in operating leases                33,859         31,763
    Retained interest in sold receivables              5,287          9,166
    Goodwill and other intangible assets                 892            897
    Assets of discontinued/held-for-sale operations        -          2,186
    Other assets                                      10,240         13,746
    Receivable from Automotive                         1,655          2,753
      Total Financial Services assets                173,517        188,919
      Intersector elimination                        (1,655)        (2,753)
      Total assets                                  $284,305       $303,792

    LIABILITIES AND STOCKHOLDERS' EQUITY
    Automotive
    Trade payables                                   $16,440        $16,026
    Other payables                                     4,679          4,269
    Accrued and other liabilities                     31,285         31,059
    Deferred income taxes                              2,490          2,514
    Debt payable within one year                       1,058            977
    Current payable to Financial Services              1,026          1,382
      Total current liabilities                       56,978         56,227
    Long-term debt                                    17,034         17,458
    Other liabilities                                 35,503         35,699
    Deferred income taxes                                  -          3,042
    Liabilities of discontinued/held-for-sale
     operations                                           15             46
    Payable to Financial Services                        629          1,371
      Total Automotive liabilities                   110,159        113,843
    Financial Services
    Payables                                           2,734          2,394
    Debt                                             140,349        154,538
    Deferred income taxes                             10,586         10,549
    Other liabilities and deferred income              7,123          8,206
    Liabilities of discontinued/held-for-sale
     operations                                            -             93
      Total Financial Services liabilities           160,792        175,780
    Minority interests                                   806            877
    Stockholders' equity
    Capital stock
     Common Stock, par value $0.01 per
      share (1,837 million shares issued)                 18             18
     Class B Stock, par value $0.01 per
      share (71 million shares issued)                     1              1
    Capital in excess of par value of stock            5,110          5,321
    Accumulated other comprehensive income/(loss)    (2,611)          1,258
    Treasury stock                                   (1,281)        (1,728)
    Earnings retained for use in business             12,966         11,175
      Total stockholders' equity                      14,203         16,045
      Intersector elimination                        (1,655)        (2,753)
      Total liabilities and stockholders' equity    $284,305       $303,792

Certain amounts in prior year's financial statements have been reclassified to 
conform with current year presentation.


                     FORD MOTOR COMPANY AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
                 For the Periods Ended June 30, 2005 and 2004
                                (in millions)

                                                          First Half
                                                      2005           2004
                                                          (unaudited)

    Cash and cash equivalents at January 1           $23,510        $23,208

    Cash flows from operating activities before
     securities trading                               18,275         13,235
    Net sales/(purchases) of trading securities       (3,679)          (723)
      Net cash flows from operating activities        14,596         12,512

    Cash flows from investing activities
     Capital expenditures                            (3,572)        (2,780)
     Acquisitions of retail and other finance
      receivables and operating leases              (28,951)       (31,727)
     Collections of retail and other finance
      receivables and operating leases                25,150         23,795
     Net acquisitions of daily rental vehicles        (2,997)        (2,902)
     Purchases of securities                          (2,451)        (6,026)
     Sales and maturities of securities                2,395          5,703
     Proceeds from sales of retail and other
      finance receivables and operating leases        12,506          3,760
     Proceeds from sale of businesses                  2,070            125
     Cash paid for acquisitions                       (1,296)           (30)
     Other                                                71            (48)
      Net cash (used in)/provided by investing
       activities                                      2,925       (10,130)

    Cash flows from financing activities
     Cash dividends                                    (367)          (366)
     Net sales/(purchases) of Common Stock               184          (101)
     Changes in short-term debt                          821         8,412
     Proceeds from issuance of other debt             14,765         7,831
     Principal payments on other debt               (25,769)       (24,401)
     Other                                               (6)           (35)
      Net cash (used in)/provided by financing
       activities                                   (10,372)        (8,660)

    Effect of exchange rate changes on cash            (526)          (145)

      Net increase/(decrease) in cash and cash
       equivalents                                     6,623        (6,423)

    Cash and cash equivalents at March 31            $30,133       $16,785

Certain amounts in prior year's financial statements have been reclassified to 
conform with current year presentation.


                     FORD MOTOR COMPANY AND SUBSIDIARIES
                   CONDENSED SECTOR STATEMENT OF CASH FLOWS
                 For the Periods Ended June 30, 2005 and 2004
                                (in millions)

                           First Half 2005            First Half 2004
                                     Financial                 Financial
                          Automotive  Services     Automotive   Services
                                (unaudited)              (unaudited)

    Cash and cash equivalents
     at January 1          $10,142    $13,368        $6,856      $16,352

    Cash flows from operating
     activities before
     securities trading      4,049     10,059         3,582        9,454
    Net sales/(purchases) of
     trading securities      1,058    (4,737)         (692)         (31)
      Net cash flows from
       operating activities  5,107      5,322         2,890        9,423

    Cash flows from investing
     activities
     Capital expenditures  (3,347)      (225)       (2,591)        (189)
     Acquisitions of retail
      and other finance
      receivables and
      operating leases           -   (28,951)             -     (31,727)
     Collections of retail
      and other finance
      receivables and
      operating leases           -     24,979             -       23,895
     Net (acquisitions)/
      collections of
      wholesale receivables      -        599             -        (865)
     Net acquisitions of
      daily rental vehicles      -    (2,997)             -      (2,902)
     Purchases of
      securities           (2,149)      (302)       (5,593)        (433)
     Sales and maturities
      of securities          1,883        512         5,312          391
     Proceeds from sales of
      retail and other
      finance receivables
      and operating leases       -     12,506             -        3,760
     Proceeds from sales
      of wholesale receivables   -      3,739             -          964
     Proceeds from sale of
      businesses                29      2,041           125            -
     Net investing activity
      with Financial
      Services               1,402          -         1,832            -
     Cash paid for
      acquisitions         (1,296)          -          (30)            -
     Other                    (11)         82            17         (65)
      Net cash (used in)/
       provided by investing
       activities          (3,489)     11,983         (928)      (7,171)

    Cash flows from financing
     activities
     Cash dividends          (367)          -         (366)            -
     Net sales/(purchases)
      of Common Stock          184          -         (101)            -
     Changes in short-term
      debt                     145        676         (267)        8,679
     Proceeds from issuance
      of other debt             84     14,681           289        7,542
     Principal payments on
      other debt             (595)   (25,174)       (1,729)     (22,672)
     Net financing activity
      with Automotive            -    (1,402)             -      (1,832)
     Other                     (4)        (2)          (15)         (20)


      Net cash (used in)/
       provided by financing
       activities            (553)   (11,221)       (2,189)      (8,303)

    Effect of exchange rate
     changes on cash          (39)      (487)          (37)        (108)
    Net transactions with
     Automotive/Financial
     Services                (356)        356           474        (474)

      Net increase/(decrease)
       in cash and cash
       equivalents             670      5,953           210      (6,633)

    Cash and cash equivalents
     at June 30            $10,812    $19,321        $7,066       $9,719

Certain amounts in prior year's financial statements have been reclassified to 
conform with current year presentation.

 


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