Ford Motor Co
11 January 2001
NEWS
Contact:
Media Enquiries
Todd Nissen
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Media Information Center
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FORD SETS 2001 FINANCIAL MILESTONES
DEARBORN, Mich., Jan. 11, 2001 - Ford Motor Company NYSE:
F, after finishing 2000 with record sales, goes into 2001 with its
strongest brand and product-line up ever. In keeping with Ford's
shareholder and consumer focus, the company today released its
financial milestones for 2001.
'The year 2000 was a tremendous year. The Ford Motor Company
rewarded shareholders by distributing S 12 billion in cash and
securities,' said President and CEO Jacques Nasser. 'The Ford Focus
became the best-selling car in the world, the F-Series was the world's
top-selling truck, and the Ford Explorer finished as America's most popular SUV
for the 10th year in a row.
'Putting customers first and leveraging our competitive advantages are
the basic building blocks of our strategy,' Nasser said. 'One of those
advantages is open communication and that tradition continues today
with our 2001 financial goals. Even though we face a more
challenging industry environment in the U.S., these milestones
demonstrate that Ford, aided by e-commerce initiatives, intends to
deliver another year of growth and strong financial results that support
our consumer-focused, shareholder driven strategy.
The 2001 milestones are:
Total Company Milestone
* Revenue Grow by $5 billion
Automotive Milestone
* North America Achieve 4 percent-plus return on sales
* Europe Achieve 1 percent-plus return on sales
* South America Improve results
* Asia-Pacific Achieve profitability
* Total costs Down $1 billion (at constant volume and
mix)
* Capital spending Contain at $8 billion or less
Automotive Related Milestone
* Ford Credit Improve returns and grow earnings by 10
percent
The 2000 milestones will be updated when Ford releases its fourth quarter
and full-year 2000 earnings on Jan. 18.
Ford Motor Company is the world's second largest automaker, with
approximately 335,000 employees in 200 markets on six continents. Its
automotive brands include Aston Martin, Ford, Jaguar, Land Rover, Lincoln,
Mazda, Mercury and Volvo. Its automotive-related services include Ford
Credit, Quality Care and Hertz.
Statements included herein may constitute 'forward looking statements' within
the meaning of the Private Securities Litigation Reform Act of 1995.
These statements 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 in the
U.S. and Europe 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; currency or commodity price fluctuations; economic difficulties
in South America or Asia; higher fuel prices; a market shift from truck
sales in the U.S.; lower-than-anticipated residual values for leased
vehicles; labor or other constraints on our ability to restructure our
business; increased safety or emissions regulation resulting in higher
costs and/or sales restrictions; work stoppages at key Ford or supplier
facilities; and the discovery of defects in vehicles resulting in recall
campaigns, increased warranty costs or litigation.
Go to http://media.ford.com for news releases and high-resolution photographs.
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