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Ford’s reassuring statement on Chrysler filing for Chapter 11…

May 5, 2009

Today’s (1.5.09 – May 1st) announcement that Chrysler is filing for Chapter 11 bankruptcy is an important development during this unprecedented period for the auto industry and the global economy.

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Our teams are monitoring the situation and have been working hard for months to ensure that the external environment and industry restructuring do not slow progress on our Ford transformation plan, which remains solid and unchanged.

Importantly, we share President Obama’s hope that Chrysler’s bankruptcy will be controlled and quick, while we continue planning for all contingencies as a prudent business measure. Our industry is highly interdependent, and the health of the supply base and dealer network is critical for all automakers. Ford appreciates that the U.S. Automotive Task Force is focused on the stability of the supply chain and is committed to ensuring that a healthy U.S. auto industry emerges from this difficult economic period

At this time, we do not expect any disruptions to our operations as a result of today’s news.

All of us at Ford remain absolutely committed to continuing to make progress on our transformation plan. Our greatest opportunity is to create ONE Ford, leveraging our global assets and delivering more high-quality, fuel efficient vehicles that customers want and value.

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