FoMoCo announced today that it can make it through 2009 without any government aid. The Dearborn automaker said that even if U.S. sales drop to an annual pace of 9 million light vehicles and stay there for the year, the company has enough money to make it through this year.
Auditors signed off on the company’s annual report to U.S. regulators without issuing a “going concern” statement. However, Ford cited two scenarios that could change its opinion. The two scenarios include sales falling below the current assumption of between 10.5 million and 12.5 million and if Ford has to spend more money to bail out suppliers and ensure part deliveries the wont interrupt production.
According to Automotive News, Ford wrapped up 2008 with total cash and securities of $15.7 billion – down from $33 billion at the end of 2007.